Football Season Prompts a 55% Increase in Sports Wagers for September
LAKEWOOD, Tuesday, November 1, 2022- Following year-to-year trends, the return of the professional and college football season once again resulted in big results for sports betting wagers and taxes in Colorado. The Colorado Division of Gaming released the September 2022 monthly sports betting figures today, which show a 518.9% increase in taxes collected in the same period last year, September 2021.
The total handle for September 2022 was $450,232,597, a 55.2% increase from the total handle of the prior month, August 2022, of $290,107,970. A year-to-year comparison shows a 10.27% increase from the total handle in September 2021, $408,314,625.
Taxes collected by the state broke a new record of the highest amount collected in one month. In September 2022, taxes from sports betting wagers totaled $2,989,342, representing a 64.04% increase over the prior month, August 2022, of $1,822,272. The monthly September 2022 tax total represents a 518.9% increase from the taxes collected in the same month of September 2021, $483,048. The total win percentage for September was 11.40%, another record-setting figure for the highest monthly win.
In September, Professional Football placed in the top spot for the month with $145,707,490 in total wagers, followed by Baseball with $83,248,832 in bets. Wagers on NCAA Football placed third with $52,658,673. The fourth spot went to Tennis with $33,070,571, and Basketball finished in the fifth slot with $21,600,442 in total wagers.
View the September 2022 Sports Betting Monthly Proceeds report on the Division of Gaming's website at sbg.colorado.gov/sports-betting-monthly-proceeds-reports.
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.