Colorado announces sports betting proceeds for April 2023, gross gaming revenue falling 27%

Updated:2024-03-30 09:22    Views:121

The Colorado Department of Revenue has released its report on the total sports betting proceeds for April 2023.

Total retail wagers accounted for $3.4m and online for $414.4m, for a total wager intake of $417.8m.

Although this is a 16% decrease from March handle, it does mark a 7% increase from the total handle for the same period year-on-year.

This resulted in payments to players in a retail capacity reaching $3.2m while online players received $379.5m. A total of $382.7m was returned to players in April.

In a 27% decrease from March’s amount, total gross gaming revenue for retail was $225,884.19 and online was $34.9m, for a total of $35.1m.

The amount of taxes collected from sports betting in Colorado reached a total of $2.6m, which was a 17% decrease from March, but a 109.7% increase year-on-year.

Total win percentage leaned more towards online bettors,alaska online sports betting with a statistic of 8% when compared to the retail win percentage of 7%.

Similar to previous reports, Basketball once again proved to be the most successful sport out of the full list of wagered options.

Resulting in $136.6m and 33% of all sports wagers in April, this is still a fall from the $287.3m and 58% stats from the month previous.

Interestingly, tennis fell in March too, decreasing from $25m and 5% of the total wagers, to $20m and 5% respectively.

In a Gambling Insider exclusive, we recently talked to the UFC about how it believes events are perfectly timed for operators.

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