LAKEWOOD, Monday, March 29, 2021 (Corrected 3/30/2021)– With a month falling between the end of the professional football season and the beginning of March Madness, February’s monthly sports betting figures dropped slightly from the month prior with an 18.5% decrease from January 2021. Even with this decrease, February’s total wagers were the third-highest for the state of Colorado, behind January 2021 ($326 million) and December 2020 ($284 million).
The total wagers placed in February from both retail and online operators came in at $266,549,206. Taxes collected by the state in February 2021 from sports betting wagers totaled $332,227. Mobile betting continues to account for a majority share of the total betting handle, with 97% of wagers made online and 3% of wagers placed in a retail location.
Professional Basketball took the top spot for February, with $95 million in wagers placed with retail and online operators. NCAA Basketball followed in second with $39 million, and in third was American Pro Football with $24 million. Ice Hockey was in the fourth spot with $13 million in total bets, and Tennis was fifth with $9 million.
"One year ago, we were talking about the casinos in Colorado shutting down due to the pandemic. This March, in comparison, we’re looking forward to a new outlook for the gaming industry, given the open sportsbook retail locations and multiple online options. Add in the March Madness championships, and we believe all of these factors will continue the growth trajectory that we see with sports betting in Colorado,” said Dan Hartman, director of the Colorado Division of Gaming.
View the February 2021 Sports Betting Monthly Proceeds report on the Division of Gaming's website at https://sbg.colorado.gov/sites/sbg/files/documents/Corrected%20Colorado%20Sports%20Betting%20Proceeds%20Report%20February%202021.pdf.
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.