The Colorado Department of Revenue reported an all-time monthly high of $53.5 million in sports betting gross revenue for January on Tuesday, furthering a strong nationwide start for sportsbooks in 2024.
The revenue total eclipsed the previous record of $51.3 million established in September 2022; the only other occasion operators cleared $50 million. Most of the $596.7 million handle was wagered via sports betting apps, with mobile books posting a 9% hold while claiming $53.3 million in gross winnings from $592.2 million worth of wagers.
Retail betting dragged the hold slightly under 9% as Colorado’s three locations where retail betting is available — Cripple Creek, Black Hawk, and Central City — combined for a 4.2% win rate and $190,400 in revenue from $4.5 million handle.
Gross revenue was up 50.8% compared to the first month of 2023, while the $38.5 million in adjusted gross revenue eligible for taxation — also an all-time monthly best — was an increase of 71.4%. The January AGR represented 72.1% of gross revenue, the highest percentage since last August.