$4 Billion Betting Handle In Colorado For Fiscal Year 2021-2022

Written By Giovanni Shorter on September 21, 2022
Colorado Sports Betting

The state’s Department of Revenue has released Colorado sports betting revenue for fiscal year 2021-2022.

The year-end sports betting proceeds report shows $4,532,970,230.31 bet on sports across both retail and online sportsbooks. Local sportsbooks made $282,625,688.38 in total gross gaming revenue (GGR) off of a 5.87% hold rate. The state collected $12,442,188.01 in total taxes for the year.

The report also published which sports were bet on most during the fiscal year.

Online Sportsbooks Dominate

The report shows that more than 98.7% of the total wagers were placed at Colorado online sportsbooks. In total, $4,755,926,752.83 was bet at local betting apps as opposed to just $59,669,165.86 wagered in person.

Sports betting revenue reflects this as well, as $279,619,195.01 of the total GGR came from online operators compared to $3,006,493.37 from retail sportsbooks.

Mobile betting dominates on a monthly basis, with the most recent report for July’s sports betting numbers revealing $237,611,926.87 in total wagered, $235,688,919.78 from mobile sportsbooks (99.1%), and just $1,923,007.09 wagered from retail sportsbooks (0.008%).

Which Sports Dominated The Market?

Colorado locals wagered mostly on basketball events during the year. 24.6% of all wagers came from NBA sports betting. This was followed by NFL betting at 16.6% and MLB bets at 10.5%. Parlays were also the most popular wager with 18.1% of all wagers for the year coming from parlay tickets.

Colorado Percentage Of Wagers

Basketball: 24.9%
Parlays/Combinations: 18.1%
Football: Pro American: 16.6%
Baseball: 10.5%
NCAA Basketball: 6.2%
Other: 6.1%
Tennis: 4.1%
NCAA Football: 3.6%
Soccer: 3.5%
Table Tennis: 1.7%
Golf: 1%

With the NBA running for roughly nine months out of the year including the postseason, it is understandable why the most wagers would be placed there. Multiple games a week also allows for a lot of parlay options, making parlays popularity also unsurprising.

All in all, this was another successful fiscal year for Colorado sports betting in terms of both betting handle and sports betting revenue. The Centennial State continues to reign as a major U.S. betting market each year.

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Giovanni Shorter

Giovanni Shorter is a sports enthusiast and writer with a passion for the legal and industry side of the sports betting market. Giovanni got his education from Florida State University where he honed his writing style writing narratives and short stories. He has spent his professional career covering sports and entertainment through articles and blogs and continues to look at the industry from multiple angles.

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