Colorado announces sports betting proceeds for April 2023, gross gaming revenue falling 27%
The report details not only the total amount of wagers and payments to players, but also which sports were the most popular. Revenue fell 27% month-on-month.
The Colorado Department of Revenue has released its report on the total sports betting proceeds for April 2023.
Total retail wagers accounted for $3.4m and online for $414.4m, for a total wager intake of $417.8m.
Although this is a 16% decrease from March handle, it does mark a 7% increase from the total handle for the same period year-on-year.
This resulted in payments to players in a retail capacity reaching $3.2m while online players received $379.5m. A total of $382.7m was returned to players in April.
In a 27% decrease from March’s amount, total gross gaming revenue for retail was $225,884.19 and online was $34.9m, for a total of $35.1m.
The amount of taxes collected from sports betting in Colorado reached a total of $2.6m, which was a 17% decrease from March, but a 109.7% increase year-on-year.
Total win percentage leaned more towards online bettors, with a statistic of 8% when compared to the retail win percentage of 7%.
Similar to previous reports, Basketball once again proved to be the most successful sport out of the full list of wagered options.
Resulting in $136.6m and 33% of all sports wagers in April, this is still a fall from the $287.3m and 58% stats from the month previous.
Interestingly, tennis fell in March too, decreasing from $25m and 5% of the total wagers, to $20m and 5% respectively.
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