Colorado sports betting slows in February, despite strong Super Bowl bets

The Colorado Division of Gaming recently announced that retail and online sports betting in the state totaled $440.5 million for the second month of the year, down 23.2% compared to January’s handful of $574 million.

Last Updated: April 5, 2022 12:05 PM ET
Reading time: 2 mins

After a record January, sports betting in Colorado experienced a bit of a hangover in February.

The Colorado Division of Gaming recently announced that retail and online sportsbooks in the state registered a total of $440.5 million for the second month of the year. That was a 23.2% decrease from January’s handful of $574 million, which was the highest in state history.

Voters approved legal sports betting in Colorado in November 2019, and sportsbooks began accepting bets on May 1, 2020.

State taxes collected in February from betting totaled $314,731, a Division of Gaming press release noted. This is a decrease of 78.26% from the previous month, when Colorado collected $1.5 million in taxes.

The decline was not unexpected. There was only one pro football game in February, although it was the Super Bowl, and March Madness had yet to begin.

Improvement year after year

Despite sporting the lowest handful since September 2021 at $408.3 million, February’s numbers were much better than a year earlier.

In February 2021, Colorado sportsbooks handled $266.5 million in bets, meaning February’s take was 65.3% Year after year to augment.

Betting was also up year over year for all sports except golf.

Professional basketball led both periods. In February 2022, the handle was $155.6 million, up from $95 million a year earlier.

Parlays/combinations were in second place with $78.5 million for February 2022. They were $39.9 million in February 2021.

NCAA basketball was the third most wagered sport in February, with $68.2 million in bets from Colorado players. As of February 2021, $39.5 million has been wagered.

Football costs sports betting

The fourth sport in terms of management for bookmakers in Colorado ended up costing the state dearly. There was $31.3 million wagered on professional football in February, but about $33.4 million was paid out to NFL bettors, resulting in a loss of about $2 million.

Super Bowl betting, however, did well. Total betting on the championship game between the Los Angeles Rams and Cincinnati Bengals was $41 million, a 31% increase from $31.2 million in February 2021.

The popularity of table tennis continues

For some reason, table tennis continues to be a popular bet for Coloradans. The sport drew $7.2 million in wagers for February, slightly more than NCAA football, and well above golf ($3.89 million) and mixed martial arts ($3.2 million). of dollars). In January, table tennis brought in $7.6 million from bets.

Hockey, football and tennis were still the source of more bets than table tennis in February. Hockey had a handful of $24.1 million, soccer was $18.9 million, and tennis was $15.8 million.

Previous The best multiplayer VR games for kids of all ages
Next Join the England table tennis team