The Colorado Division of Gaming reported $593 million in sports betting handle for March on Tuesday, continuing the Centennial State’s strong year-over-year growth for the first quarter of 2024.
It was the fourth-highest total in 47 months of wagering and 20% higher than March 2023. Colorado has surpassed one-half billion dollars in handle in seven consecutive months, the longest such streak in state history.
Operators had a solid month, posting a 7.6% hold to claim $45 million in gross sports betting revenue. That ranked sixth in state history and was the eighth occasion winnings cleared $40 million. The state was able to levy taxes on $31.6 million in adjusted gross revenue, resulting in an inflow of $2.9 million into state tax coffers.
Revenue was down 1.9% compared to March 2023 as last year’s hold was 1.7 percentage points higher. Winnings for the first three months, however, were up 19.5% to $124.3 million, and the $1.73 billion handle represented a 17.7% increase year-over-year.