Colorado Losses Millions From Wagers In June 2022

Colorado has offered legal sports betting for 26 months. The state has reported two months of gross revenue loss in 2022 and three times in total. In June, the state reported a total handle of $300 million and gross revenues of 6.8 million.

Colorado Avalanche won seven of their nine games in June. They were the betting favorite in 19 of 20 games played. Sportsbook operators had to pay out over $31 million from online sports wagers. Colorado reported their smallest total handle in July since August 2021.

Colorado sportsbooks have to prepare for the start of the 2022-2023 NFL season. Online sports betting in Colorado recorded over $123 million in wagers and paid out $119 million on those wager. Football accounted for over 30.8% of bets placed. Colorado sportsbook operators lost $8.7 million from promotional play in June.