Colorado sees $553M in sports betting handle during November, 16% more than in 2021

The Colorado Division of Gaming released Wednesday the November 2022 monthly sports betting figures, showing a total handle of $552.6 million. The figure implies a 4.9% increase from the prior month, and a 16.2% jump in a year-over-year comparison.

The state collected almost $2.6 million in taxes from the November wagers, as reported by the Division, which was up 10.8% from October tax revenue. The monthly November 2022 tax total represents a 30.2% yearly increase from the taxes collected in the same month in 2021, of $1.9 million. 

Fiscal year taxes to date for November are $10.8 million, a 98.95% increase from the fiscal year taxes to date for November 2021 of $5.4 million. 

In November, basketball was the top spot for the month with $142.1 million in total wagers, followed by pro American football with $135 million. Wagers on NCAA Football placed third with $48 million. Fourth came in NCAA Basketball with $38.9 million, with soccer falling behind with $27 million. 

Sports betting became legal in the Centennial State in 2020. Most of the revenue goes toward state water projects. The Hold Harmless Fund and Office of Behavioral Health also get a portion of the revenue. The Hold Harmless Fund and Office of Behavioral Health also get a portion of the revenue.