Colorado sportsbooks witnessed a decline in monthly handle in July, but did note a year-on-year increase as players become more accustomed to legal sports betting in the state.
According to data released by the Colorado Division of Gaming, the total handle for Colorado sportsbooks was $258.4m, down 17.5% from June’s figure of $313.2m.
However, this was an increase of 42.5% on July 2021’s total figure of $181.3m.
Despite the drop off in wagers and total handle, tax collected from the state during July was up a staggering 307.1% on June, with $1.09m collected by the state in taxes compared to just $268,280 during June.
This figure is also 9.3% up YoY, with July 2021 seeing the state collect $999,111 in taxes from sports betting activity.
Per sport, baseball was the most popular sport to wager on during July with $110.6m in total wagers, followed by tennis, which garnered $24.4m in wagers. Making up the top three sports was basketball, which saw $23.4m in total wagers, followed by soccer ($12.0m) and golf ($8.0m).