Colorado ranks among top 6 states for sports betting

Colorado is one of the top six sports betting states in the U.S. since local voters first legalized sports gambling in 2020 — and this month may prove the most profitable yet.

Why it matters: The state collects tax revenue from sports betting and funnels it directly into gambling addiction services, including crisis hotlines and counseling, as well as infrastructure investments like water conservation and storage projects.

Driving the news: Colorado generated nearly $37 million in sports betting revenue in November, the latest data available, according to the Colorado Department of Revenue.

• Since May 2020, about $4.6 billion has been wagered on sports statewide.

Of note: Colorado is one of 15 states along with the District of Columbia that allow mobile betting, in addition to gambling in-person.

What's next: January will almost certainly break the record for money wagered on sports nationwide with NFL playoffs and a college-football championship, Axios' Jeff Tracey writes.

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