Colorado became one of the states that allowed sports betting on May 1, 2020, but clearing the legislature was only the beginning. The path to legalization came less than six months after Colorado voters approved a ballot measure, by a slim margin, that would cover the regulation of sports betting through licensed casinos.
Both mobile and retail sports betting are permitted under Colorado law. The state will leverage tax revenue from sports betting to help fund various state water projects.
Colorado sports betting revenue
Colorado sports betting began on May 1, 2020, and features online sports betting and retail betting for users. The Centennial State generated $6.1 billion in total sports betting handle in 2024.
Below is an outline of Colorado's sports betting figures over the years:
Colorado annual data
| Year 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| 2025 | $5,195,186,000 | $470,093,000 | 9.2% |
| 2024 | $6,187,564,045 | $475,176,732.20 | 7.7% |
| 2023 | $5,560,232,285 | $391,773,823.59 | 7.0% |
| 2022 | $5,181,758,901 | $351,950,256.52 | 6.80% |
Colorado 2025 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $657,182,798 | $60,909,818.74 | 9.3% |
| Feb | $496,628,781 | $46,377,521.20 | 9.3% |
| Mar | $618,044,246 | $36,247,840.67 | 5.9% |
| Apr | $507,860,831 | $47,275,156.18 | 9.3% |
| May | $495,332,856 | $49,043,012.64 | 9.9% |
| June | $372,493,465 | $39,848,629.80 | 10.7% |
| July | $352,309,840 | $35,533,248.47 | 10.1% |
| Aug | $414,703,000 | $47,099,000 | 11.3% |
| Sept | $604,217,000 | $45,712,000 | 7.6% |
| Oct | $676,414,000 | $62,047,000 | 9.1% |
Colorado 2024 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $596,685,967.76 | $53,490,322.54 | 9.0% |
| Feb | $536,988,261.40 | $25,762,378.24 | 4.8% |
| Mar | $593,094,977.24 | $45,041,776.29 | 7.6% |
| Apr | $509,508,228.35 | $32,028,036.33 | 6.3% |
| May | $447,561,934.48 | $44,991,355.21 | 10.1% |
| June | $350,425,610.39 | $28,196,297.25 | 8.0% |
| July | $320,396,840.88 | $32,548,659.03 | 10.2% |
| Aug | $372,378,663.79 | $33,202,184.07 | 8.9% |
| Sept | $562,923,089.75 | $55,092,144 | 9.8% |
| Oct | $601,222,030.73 | $39,328,305.38 | 6.5% |
| Nov | $647,951,807.02 | $55,666,474.79 | 8.6% |
| Dec | $648,426,633.70 | $29,828,799.10 | 4.6% |
Colorado 2023 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $547,189,024.98 | $35,482,561.83 | 6.50% |
| Feb | $425,142,876.63 | $22,599,602.21 | 5.30% |
| Mar | $494,440,209.59 | $45,763,226.09 | 9.29% |
| Apr | $417,814,147 | $35,148,592 | 8.4% |
| May | $385,242,135.59 | $31,406,903.03 | 8.2% |
| June | $310,656,478.39 | $9,223,661.30 | 3.0% |
| July | $281,110,490.36 | $24,962,106 | 8.9% |
| Aug | $306,065,790.69 | $25,873,057.73 | 8.5% |
| Sept | $512,792,794.07 | $45,276,516.95 | 8.8% |
| Oct | $554,859,801.15 | $46,914,491.62 | 8.5% |
| Nov | $608,488,266.48 | $28,585,605.69 | 4.7% |
| Dec | $716,430,270.22 | $40,537,499.14 | 5.7% |
Colorado 2022 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $573,720,213.20 | $34,640,219.20 | 6.00% |
| Feb | $440,508,420.81 | $19,604,490.20 | 4.50% |
| Mar | $505,611,080.13 | $28,238,194.15 | 5.60% |
| Apr | $392,311,737.41 | $22,571,887.23 | 5.80% |
| May | $360,325,437.74 | $27,119,329.32 | 7.50% |
| Jun | $313,215,080.54 | $6,781,091.85 | 2.20% |
| Jul | $258,414,807.73 | $20,802,880.86 | 8.10% |
| Aug | $290,107,969.56 | $25,859,270.20 | 8.90% |
| Sep | $450,232,596.97 | $51,339,659.25 | 11.40% |
| Oct | $526,619,776.98 | $36,514,974.08 | 6.90% |
| Nov | $552,603,012.51 | $37,569,022.31 | 6.80% |
| Dec | $518,088,768.08 | $40,909,237.87 | 7.90% |
Colorado sports betting at a glance
Launch date: May 2020
Regulator: Colorado Department of Revenue, Division of Gaming (Colorado Limited Gaming Control Commission)
Latest reported month: September 2025
Lifetime handle: $26,488,684,326
Lifetime revenue: $1,954,741,538
Last updated: December 24, 2025
Note: Colorado reports sports betting handle and revenue on a monthly basis via the Division of Gaming’s monthly proceeds reports. Figures reflect combined online and retail wagering; annual totals can be constructed from individual monthly reports but the state does not currently publish a single lifetime handle/revenue figure.
About sports betting revenue in Colorado
Colorado legalized sports betting in May 2020, with wagering officially launching that month under a regulatory framework that allows both online and retail sportsbook operations through licensed operators and casinos.
The state’s model integrates online/mobile platforms with in-person betting at licensed casino partners across the state, with tax revenues earmarked for public benefit programs including water conservation initiatives.
Each month, the Colorado Department of Revenue’s Division of Gaming publishes official sports betting proceeds reports detailing statewide handle and revenue (often including gross gaming revenue and tax collections). These combined online and retail figures form the basis of the statistics tracked for the Colorado market.
Because reporting practices and tax structures vary by state, Colorado’s numbers are best evaluated in the context of its own regulatory framework rather than through direct comparison alone.
How to read revenue numbers
- Handle represents the total amount wagered by bettors during the month.
- Revenue reflects sportsbook winnings after payouts, before expenses.
- Hold is calculated as revenue divided by handle, expressed as a percentage.
Monthly revenue can fluctuate significantly due to seasonality, betting mix, and the outcomes of major sporting events.
Colorado sports teams to bet on
It's a great time to be a Colorado sports fan. Between the Denver Nuggets winning their first NBA Championship in 2023 and the Colorado Avalanche lifting the Stanley Cup in 2022, the hometown teams have given their fans plenty to cheer about lately.
But even with the recent success, Coloradans must put their local biases aside and conduct research before placing any wager. Be sure to review our how to bet guides before blindly betting on any of your favorite teams.
Although no scheduled fights or Formula One races are coming to the Centennial State anytime soon, the best UFC betting sites, boxing betting sites, and F1 betting sites easily allow you to back fighters and drivers you can cheer on as passionately as your hometown teams.
Colorado sports betting law
Legal Colorado sports betting arrived courtesy of House Bill 1327, which authorized the state’s 33 licensed casinos to obtain a primary license to offer sports betting at their respective casinos via an online website or mobile application.
We've highlighted pertinent Colorado sports betting milestones:
- The Colorado Limited Gaming Control Commission and Colorado Division of Gaming regulate online and retail sportsbooks.
- Commercial and tribal casinos can legally operate sportsbooks within their casinos.
- Only individuals 21 or older can bet on sports in Colorado.
- 14 online sportsbooks operate in Colorado.
- Colorado allows for college sports betting, including wagering on in-state teams.
- esports regulations permit wagering on competitions sanctioned by a sports governing body or equivalent.
- Gambling winnings are treated as taxable income at a rate of 4.6% for Colorado residents.
Covers and credibility
We have had our finger on the pulse of the sports betting industry for more than 25 years. The sports betting revenue figures and statistics found here have been personally reviewed, verified, and fact-checked to ensure their validity.
News outlets turn to Covers for our earned reputation as a trusted and authoritative source of sports betting information. These are among the notable publications and media outlets that have referenced Covers.com and our industry experts.
More industry resources
As states continue to authorize legal sports betting — now 38 states plus DC, consult these informational websites for additional information on the sports betting industry:
- American Gaming Association (AGA): Organization dedicated to advancing the gambling industry's interests by promoting, educating, and advocating for responsible gambling.
- Professional and Amateur Sports Protection Act (PASPA): Supreme Court of the United States ruling.
- National Council on Problem Gambling: Those seeking help for a gambling problem can call 1-800-GAMBLER toll-free, 24/7.
Related sports betting revenue coverage
U.S. Sports Betting Revenue Tracker
Monthly Sports Betting Revenue by State: Arizona | Arkansas | Colorado | Connecticut | DC | Illinois | Indiana | Iowa | Kansas | Kentucky | Louisiana | Maine | Maryland | Massachusetts | Michigan | Missouri | Nevada | New Hampshire | New Jersey | New York | North Carolina | Ohio | Oregon | Pennsylvania | Rhode Island | Tennessee | Vermont | Virginia | West Virginia | Wyoming
Sports betting revenue tracker FAQ
The sports that generate the most sports betting revenue can vary depending on factors such as the sport's popularity, the betting market's size, and the timing and frequency of significant events. Football stands as the most popular sport for betting in the United States, with the NFL generating the highest revenue. The Super Bowl alone is one of the world's most-watched and bet-on sporting events. Basketball is also a popular sport for betting, particularly in the United States where the NBA lays claim to the top basketball league in the world.
Sports betting revenue varies greatly depending on the region, market, and size of the industry. However, in many jurisdictions, sports betting can generate significant revenue and contribute to the overall economy. Compared to other industries, sports betting revenue may not be as significant. For example, in 2020, the global video game industry was estimated to generate over $159 billion in revenue. Meanwhile, the global film industry was estimated to generate over $100 billion in revenue in 2020.
The popularity of select sports events cannot be overlooked, with the Super Bowl and World Cup among the largest betting events in the globe. Betting odds and lines also greatly impact the amount of revenue generated by sports betting. Other factors include technological advancements, including the live streaming of events.
The future of sports betting revenue hinges on additional markets legalizing sports betting, via mobile betting, land-based, or a combination of both. An uptick in legal U.S. markets will trigger increased revenues, while new bet trends including same game parlays and in-game wagering, unlocks more opportunities for customers.
Online sports betting has significantly impacted sports betting revenue, notably in states where it is legal and regulated. The rise of online sports betting has facilitated the customer experience, allowing people to place bets remotely or in-person from the event itself, leading to increased revenue for sportsbooks. Betting site operators can also reach a much larger audience and customer-base. Overall customer convenience plays a large part in driving up sports betting revenue.
Gross revenue represents the total amount of money a sportsbook takes in from all customer bets, and it includes the total value of all bets placed, regardless of whether the bets won or lost. In other words, gross revenue is the total amount of money a sportsbook earns from its customers. Net revenue, conversely, is the amount of money a sportsbook earns after deducting all its operating expenses. This includes things like salaries, rent, marketing expenses, and other costs associated with running the sportsbook. Net revenue is the profit a sportsbook makes from its operations.
Major sports events including the Super Bowl and World Cup have a significant impact on sports betting revenue. These events garner a lot of attention from fans, which leads to increased betting activity and higher revenue for sportsbooks. The Super Bowl alone is the largest single-day betting event on the sporting calendar, which generates millions of dollars in revenue for sportsbooks.
Pages related to this topic
