Colorado Records $231 Million Sports Betting Handle in November

The sports betting handle for the state of Colorado touched $231 million in November, creating better month-on-month results. A majority of the sports bets placed in rhea state were done online.

Record-breaking month for Colorado

Colorado became one of the six states to have crossed the $225 million mark in sports betting handle during a single month. The record-breaking month saw $231 million in the total betting handle, with massive enthusiasm for NFL, NCAAB tournaments. The state is also eyeing a similar sentiment with the upcoming NHL and NBA tournaments. The NBA men’s tournament began on December 23 and the state is expecting an even bigger figure as more people wager during the holiday season.

Local sports franchises helped in improving the sports betting handle results. The Denver Broncos has five NFL games in November, because of which punters improved their interest in local sportsbooks. Colorado also gained some fame for making South Park characters watch the Broncos games live when they played against Tampa Bay Buccaneers in September.

Increasing numbers for Colorado

The state saw a 9.7% month-on-month increase in handle. In October, it collected $210 million in sports wagers according to a statement from the Colorado Department of Revenue. The state’s tax didn’t increase in equivalent measures as high win percentages lowered the taxes earned. The NFL and Denver Broncos games brought in $88.4 million in total. Broncos has a bigger impact on the sports betting ecosystem as it sparked punter’s interest.

Other popular sports during the month were basketball, table tennis, NCAAB and NCAAF. These sports collected a combined $52.6 million. The most preferred types of wagers were parlays which brought in $40.3 million. NCAAF brought in $22.2 million in table tennis, which added another $12.4 million. The state’s love for table tennis is unprecedented. The state first started showing interest in the sport when the pandemic first hit this year, and popular sports were absent.

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