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Colorado Sports Betting Numbers Receive an Assist from March Madness

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For Immediate Release

Contact: Suzanne Karrer 
Communications Supervisor 
303-621-4063 (c)
suzanne.karrer@state.co.us

LAKEWOOD, Wednesday, April 27, 2022- Wagers on basketball reigned supreme in March helping total wagers in Colorado increase by 14.8% over February’s wagers. The Colorado Division of Gaming released the March 2022 monthly sports betting figures today, and March Madness wagers on Professional Basketball and NCAA Basketball took the two top spots for the month. 

The total handle for March 2022 was $505,611,080.13. A year-to-year comparison shows a 67.98% increase from the total handle of March 2021 of $300,990,842.15. Fiscal year total wagers for the current period, July 2021-March 2022, are $3,749,743,663, an 85.96% increase in the total wagers made in the same period 2020-2021.

Taxes collected by the state in March 2022 from sports betting wagers totaled $1,313,075.73, representing a 317.21% increase over the prior month, February 2022. Fiscal year taxes to date for March 2022 are $9,285,250.51, which is a 78.3% increase from the FYTD Taxes for the same period in 2020-21 of $5,206,673.74.

In March, professional basketball placed in the top spot for the month with $218.4 million in total wagers, followed by NCAA Basketball with $96.9 million in wagers. Ice Hockey came in third with just over $26 million. The fourth spot went to Tennis with $23.4 million, and Soccer stayed in the fifth slot with a little over $18 million. 

View the March 2022 Sports Betting Monthly Proceeds report on the Division of Gaming's website at sbg.colorado.gov/sports-betting-monthly-proceeds-reports.

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On November 6, 2019, Colorado voters passed Proposition DD, establishing Colorado as one of many states across the country to allow people to place legal bets on sporting events since the Supreme Court ruling struck down a law that banned sports betting in most U.S. states. With the passage of Proposition DD and the Colorado General Assembly's legislative bill in May 2019, the Colorado Limited Gaming Control Commission and the Colorado Division of Gaming became the statutory authority over the legalized sports betting regulation in Colorado. Legalized, regulated sports betting began in Colorado on May 1, 2020.

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.