Total handle in Colorado was 9.67% higher than in October and experienced a 10.11% increase from November 2022, accumulating $553m. The total wagers in Colorado for 2023 currently stand at $2.3bn, with December’s numbers still pending. As of November, the total wagers were 8.92% higher compared to the same point in 2022. However, the total taxes of $1.5m were 55.43% lower than October 2023 and 42.31% lower year-on-year.
November was a great month for sports bettors in Colorado, with the gross gaming revenue amounting to $28.6m. This indicates a decrease from October’s revenue of $46.9m, with the total win percentage dropping from 8.46% to 4.7%. Colorado’s gross gaming revenue for November experienced a 39% decrease compared to October.
American football continues to dominate the market in Colorado, with $151.1m of wagers placed on the professional game, while college football generated $52.1m in bets. However, this trend is expected to decline soon as the football season nears its end. Football accounted for 33.4% of Colorado’s total wagers in November. Additionally, basketball performed well, with $143.6m placed on the NBA in Colorado in November, and $37.8m wagered on college basketball.
The launch of Fanatics’ sportsbook in Colorado is expected to further boost the state’s record-breaking sports betting handle. Fanatics acquired PointsBet US in September and launched its sportsbook in Colorado in December. Existing PointsBet customers in Colorado can access the Fanatics Sportsbook using their current credentials, with their open bets, balances, and responsible gambling settings seamlessly transferred to the new platform. The Fanatics Sportsbook is now live in Kentucky, Maryland, Massachusetts, Ohio, Tennessee, West Virginia, Virginia, and Colorado, as well as its most recent launch in Connecticut.
