Colorado sports betting handle continues to decline in July
Consumer spending on sports betting in Colorado fell for the fourth consecutive month in July, though the US state did report an increase in revenue.
Handle in July amounted to $258.4m (£224.8m/€260.5m), the lowest monthly total of the calendar year so far, and also 17.5% lower than $313.2m in June. However, the July total was 42.5% higher than $181.3m in the same month last year.
Of this total, $256.4m was spent betting on sports online, while the remaining $2.0m was wagered at retail sportsbooks across the state.
In terms of gross gaming revenue, this reached $20.8m, which was 205.9% higher than the $6.8m reported in June this year and also 32.5% higher than $15.7m in July 2021.
Online betting accounted for $14.2m of all revenue during the month, with retail reaching just $35,781.
Baseball was the most popular sports to bet on, drawing $110.6m in total wagers, ahead of tennis in $24.4m and basketball with $23.4m.
The state collected $1.1m in sports betting taxes during the month, while win percentage for licensed operators in Colorado stood at 8.05%.