Colorado Breaks Betting Records with $716.4 Million Wagered in December

In a spectacular display of enthusiasm for sports betting, Colorado experienced an unprecedented surge in December 2023. Players in the state collectively wagered a jaw-dropping $716.4 million, shattering the previous monthly high by a staggering margin. This surge marked a 17.7% increase from the previous month's record of $608.5 million in November 2023 and an astonishing 38.3% growth compared to December the previous year, which saw $518.1 million in bets.

A significant portion of the bets, approximately $712.0 million, was placed through online platforms, while retail venues accounted for a mere $4.5 million. This digital dominance contributed to a robust gross gaming revenue of $40.5 million for December, a 41.6% increase from the $28.6 million generated in November. However, despite the surge in bets compared to December 2022, year-on-year revenue was marginally lower, showing a 0.1% decline from the previous year's $40.9 million.

As the National Football League season drew to a close, American football remained the top choice for bettors, with players wagering $193.1 million during the month. Basketball and college football also garnered significant attention, with bets totaling $171.4 million and $45.8 million, respectively. Parlay and combination bets in December reached an impressive $204.2 million.

December brought exciting developments to Colorado's sports betting landscape. Fanatics, a renowned sportsbook operator, made its debut in the state, replacing PointsBet following its acquisition of the latter's US business. Additionally, Betr, a microbetting operator, secured market access deals in Colorado, Pennsylvania, and Kentucky. However, Betr's presence in Colorado is contingent on license approval from the Colorado Division of Gaming, with Boulter Developments also taking an equity interest in the company. The betting scene in Colorado is undoubtedly thriving, with new opportunities and records continually emerging.