Colorado sports betting and revenue up YoY in April

The state’s handle was comfortably ahead of $244.4m in April last year, but 22.4% behind the $505.6m bet by consumers during March of this year.

Of this total, $389.1m was spent wagering online, while $3.2m was bet at retail sportsbooks across the state.

In terms of gross gaming revenue, this was up year-on-year from $17.6m in April 2021, but 19.9% lower than $28.2m in March this year.

Online betting was responsible for $22.2m of this total with the remaining $379,972 coming from retail sportsbooks.

Breaking down performance by sport, basketball drew the most wagers, with the $146.4m spent by players representing 37.3% of all wagers placed during the month.

Baseball ranked second with $69.9m in total bets, or 17.8% of all wagers in April, then ice hockey with $26.0m, corresponding to a 6.6% share. Some $73.4m was also wagered on parlay bets.

Players won a total of $369.7m from sports betting during the month, while the state was able to generate $1.2m in tax.