Gaming Commission Approves $33 Million to Colorado Water Conservation Efforts Following Record Year in Sports Betting
About $1.7 Million Also Approved for Hold Harmless Fund
Denver - September 23, 2025- A record year of sports betting in Colorado is translating into a major investment in the state’s most vital resource: water.
The Colorado Division of Gaming announced that more than $33 million in tax revenue has been approved for distribution to the Colorado Water Conservation Board to support the state’s water plan.
The historic funding was part of an over $35 million distribution certified by the Colorado Limited Gaming Control Commission at its September meeting.
In addition to the water funds, $1.74 million was directed to the Hold Harmless Fund. This fund fulfills a key promise of the original sports betting legislation by reimbursing existing casino operations and their local governments for financial impacts related to the statewide expansion of gaming.
"We are thrilled to announce this record-breaking year for sports betting distributions in Colorado," said Christopher Schroder, Director of the Division of Gaming. "These funds are crucial for supporting critical water initiatives across our state. As we celebrate this success, we also remain deeply committed to promoting responsible gaming and ensuring that all participants can enjoy a safe and secure environment. We encourage anyone who may be struggling with problem gambling to utilize the resources available at BetSmart.Colorado.gov or by calling 1-800-GAMBLER."
Of the total, $33,498,236.24 was distributed to the Colorado Water Conservation Board (CWCB). 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 CWCB, the state’s primary water policy agency. The Colorado General Assembly still needs to appropriate the funds in the upcoming legislative session and once appropriated, the fund would be available for grantmaking beginning July 2026.
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.
The CWCB recently awarded nearly $25 Million to 56 projects to secure Colorado’s water future.
A complete breakdown can be found on page 23 of the Colorado Limited Gaming Control Commission’s September meeting agenda.
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.
The FY 24-25 sports betting revenues distributed today demonstrate the strength of sports betting in Colorado. 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.
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.