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Colorado sports betting wagers sees major increase

23 September 2020

(PRESS RELEASE) -- The return to play for professional sports has resulted in a big win for Colorado with another month of legalization showing promising figures for the growth of sports betting in the state. The Colorado Department of Revenue’s Division of Gaming released the monthly figures for August’s sports betting wagering and taxes and is reporting a 117% increase in total handle over the month prior, July 2020.

The total handle for both retail and online sports betting wagers in Colorado in August totaled $128,646,209.09. The total taxes collected from the Net Sports Betting Proceeds were $189,461.84. The top three sports by total wagers were basketball with $38,040,027.19 in wagers placed in with both retail and online operators, followed by baseball with $22,789,309.27 and ice hockey with $13,594,062.38.

On 6 November 2019, Colorado voters passed Proposition DD, establishing Colorado as one of many states across the country to allow people to place legal bets on sporting events since the Supreme Court ruling struck down a law that banned sports betting in most U.S. states. With the passage of Proposition DD and the legislative bill passed by the Colorado General Assembly in May 2019, the Colorado Limited Gaming Control Commission and the Colorado Division of Gaming became the statutory authority over the regulation of the legalized sports betting in Colorado. Legalized, regulated sports betting began in Colorado on 1 May 2020.

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Colorado sports betting wagers sees major increase is republished from Online.CasinoCity.com.