Colorado wagered $2.3 billion on sports in first year of legal betting

In its first year, Colorado wagered $2.3 billion on sports — enough to rank sixth in the nation among states where it is legal.

• Colorado legalized sports gambling May 1, 2020, and the first year exceeded analysts' wildest expectations.
• An analysis from Legal Sports Report put Colorado's total at $2.1 billion — below what state officials reported — but enough to rank near the top.

By the numbers: In the first 11 months, the state collected $5.6 million in tax revenue.

• Sportsbooks netted $148 million in revenue after issuing money to winners, adding up to $67 million in profits, the Denver Gazette reported.

State of play: Starting this month, casinos in Black Hawk, Central City and Cripple Creek began allowing higher betting limits after voters legalized no-limit wagers in the 2020 election.

• The higher stakes are helping to increase interest in the casino towns and boosters hope it draws fans from Las Vegas.
• But 98% of sports betting wagers are made online.

Go deeper: The state of sports betting 3 years after the Supreme Court's landmark ruling