olorado sports wagering set a new record for the sixth consecutive month in October, the Colorado Department of Revenue reported Monday.
Betting on pro football, baseball and college football added up to more than $100 million, more than half of the $210.7 million overall total. That was up 2% from $207.7 million in September, generating a record $17.4 million in gross gaming revenue, up 317.7% from $4.2 million in September.
Online betting produced 98%, or $206.4 million, of October’s wagers. That was up from $203.9 million, or 98.2%, of September’s handle. The sportsbooks and the state of Colorado netted more money from gamblers than they had in the previous five months combined, as reported by Colorado Springs Gazette. The amount casinos kept after paying winners more than tripled to $9.64 million and state taxes on betting grew nearly 12 times from September’s total to $824,700.
Estimates obtained by PlayColorado from Eilers and Krejcik, a California-based gaming industry research firm, show DraftKings and FanDuel are dominating the Colorado betting market, generating 84% of Colorado’s sports wagering revenue since betting was legalized May 1. DraftKings has 46% of the market, while FanDuel has 38%. Fourteen other online operators and 11 other retail sportsbooks are licensed in the state.