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March Madness Boosts Colorado Numbers

May 2, 2023

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March Madness Boosts Colorado Numbers

According to figures from the Colorado Department of Revenue, more than 99% of all sports betting in Colorado was done online in March, with a total handle of $494.4 million. Mobile sports betting has dominated in Colorado for the first quarter of 2023, accounting for more than 99% of bets placed each month. Professional basketball has been the most popular sport in the state this year, with ice hockey, tennis, and soccer following closely behind. Colorado sportsbooks held 9.3% in March, leading to the second-highest month of recorded revenue in state history at $45.9 million, and revenue increased 63% compared to March 2022. The state collected $3.1 million in taxes last month. The Colorado sports betting market peaked in January 2022, and although total handle dropped slightly in the first quarter of 2023, projections suggest that the impact of Kansas sports betting on the state’s handle is expected to be minimal.

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