The December handle in sports betting surpassed the previous record of $608.5m in November 2023 by 17.7%. It was also 38.3% higher than the $518.1m bet in Colorado in December of the previous year. The majority of wagers, amounting to $712.0m, were placed online, while retail venues only took $4.5m in bets.
Gross gaming revenue for December reached $40.5m, showing a 41.6% increase compared to November’s $28.6m. However, despite the significant rise in bets compared to December 2022, the year-on-year revenue comparison showed a 0.1% decrease from the previous year’s revenue of $40.9m. Online wagering contributed almost all of the monthly revenue, with retail’s contribution at just $63,546.
American football remained the most popular sport to bet on, with players betting $193.1m during the month. Basketball drew $171.4m in bets, college football received $45.8m, and parlay and combinations totaled $204.2m. In terms of taxes, $3.7m was collected in December, while players won $675.9m, including $671.5m online.
In December, Fanatics launched in Colorado after taking over from PointsBet. As for future launches, Betr secured market access deals in Colorado, Pennsylvania, and Kentucky, with an online sportsbook agreement in Colorado through Boulter Developments, pending license approval from the Colorado Division of Gaming. Boulter Developments also took an equity interest in Betr.
