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Colorado bettors wagered a record $6.4 billion on sports in the last fiscal year, the highest total since the state legalized sports betting in 2020.
The new high, reported by the Colorado Department of Revenue’s Division of Gaming, was up 2.3% from the prior fiscal year. It also produced more than $47 million in sports betting tax revenue for state water projects, a 28% year-over-year increase.
The figures matter because they show Colorado’s legal gambling market continuing to grow even after the initial post-launch years, while also increasing the amount of money directed to public uses through betting taxes.
Basketball led betting, with table tennis ranking surprisingly high
Basketball drew the most betting money in Colorado over the last fiscal year at $1.3 billion. The NFL ranked next with $853.7 million in wagers, followed by baseball at $548.1 million.
One of the more notable figures in the state’s breakdown was table tennis, which attracted $346.4 million in wagers, the fourth-highest total among sports listed in the report. NCAA basketball brought in $173.6 million, ranking eighth.
Tax revenue goes to Colorado water projects
Colorado’s sports betting taxes are used for grants aimed at restoring and preserving rivers and streams. The money is intended to support water-related projects that help groups including ranchers and anglers that rely on the state’s water resources.
Christopher Schroder said, “Achieving over $47 million in tax revenue this fiscal year is a historic milestone for Colorado’s sports betting industry.” He added that the record performance was “not just an indicator of a thriving and engaged market, but a vital engine for our state’s future.”
Colorado voters approved legal sports betting in 2019, and the market launched in 2020. The latest fiscal-year total covers the period from July 1 through June 30.
For Colorado, the latest results show two things at once: steady wagering demand across major sports and a growing stream of tax revenue tied directly to environmental and water conservation funding.
