Breaking Records: Over $6B in sports betting raises about $37M in tax revenue, setting new fiscal year mark
June’s $372M in wagers nets over $3M in taxes
Lakewood - August 6, 2025 – Fiscal year 2024-25 set records for sports betting wagers and taxes in Colorado, according to the Colorado Division of Gaming’s latest monthly report.
Annual sports betting tax revenue is used for water conservation and protection projects, which provide a framework for helping Colorado meet its water challenges. These funds support the Water Plan Grant Program, administered by the Colorado Water Conservation Board, the state’s primary water policy agency.
Water Plan Grants support the implementation of the Colorado Water Plan and fund critical projects across Colorado. Projects are wide-ranging and impactful to the state, focusing on enhancing water infrastructure, restoring ecosystems, supporting education and community collaboration, boosting water conservation and efficiency, guiding resilient land use planning, and much more.
At the end of the fiscal year, the taxes are collected, then distributed in accordance with C.R.S 44-30-1509. Fund distributions will be approved at the Colorado Limited Gaming Control Commission meeting in September.
Total wagers in a year record
Coloradans wagered $6,300,842,045 in total wagers for the fiscal year — almost $287 million more than the previous record, which was set this past fiscal year. Additionally, this record amount is a 130% increase from the first full fiscal year of sports betting in Colorado.
Total taxes collected in a year record
Coloradans wagers’ raised a record $36,819,069.79 total taxes collected for the fiscal year, surpassing the previous high mark, set this past fiscal year, by almost $6.4 million more than the previous record. The new record also represents a 354% increase in total taxes compared to the first fiscal year of sports betting, FY 20-21.
"These record-breaking numbers are great for the industry and for the State of Colorado,” Division of Gaming Director Chris Schroder said. “Each dollar raised helps us protect Colorado’s vital water resources, both today and for future generations, while also reinforcing our commitment to responsible gaming practices that ensure a safe and enjoyable experience for all participants.”
Top betting sports
Below are the top 10 betting sports of the fiscal year. Please note that unless mentioned, sports listed include both American and international sports leagues. For a complete list of sports that can be bet on, visit SBG.Colorado.gov/Sports-Betting-Catalog.
- Basketball: $1,405,865,787.41
- Football pro American: $851,668,347.78
- Baseball: $599,803,125.86
- Tennis: $357,152,559.12
- NCAA basketball: $298,746,091.39
- Soccer: $291,955,982.16
- Table tennis: $279,839,049.14
- NCAA football: $210,599,956.37
- Ice hockey: $160,112,942.91
- Golf: $60,534,488.60
Monthly figures
Colorado’s sports betting industry saw an increase in total handle and total taxes collected for June. At $372,493,465.49, June’s total handle grew 6.3% over the previous year. Additionally, the Division collected $3,079,722.39, 69.51% more taxes collected than in June 2024.
Full figures are in the table below:
View the June 2025 Sports Betting Monthly Proceeds report on the Division of Gaming's website at SBG.Colorado.gov/sports-betting-monthly-proceeds-reports.
If you or someone you know is struggling with problem gambling, there are many resources available to help, please visit BetSmart.Colorado.gov. Gambling problem? Call or text 1-800-GAMBLER.
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The Colorado Department of Revenue’s Division of Gaming ensures honesty and integrity in the Colorado gaming industry. The Colorado Department of Revenue works to be a trusted partner to every Coloradan to help them navigate the complexities of government so they can thrive.