The Denver Gazette sports business insider is a reader’s guide to understanding the influence of money, politics and power behind their favorite leagues, teams and players:
Sports business insider: The total handle for August sports gambling wagers placed in Colorado exceeded $372 million.
Short version: The Colorado Division of Gaming released sports-betting figures on Tuesday for August. Sports gamblers in the state wagered a total of $372,378,663. That represented an uptick of 21% compared to the same month last year ($306,065,790).
Long version: Here is a breakdown of the top five sports ranked by total wagers placed in Colorado for August 2024, according to the state’s division of gaming:
1. Baseball — $103.2 million
2. Tennis — $39.2 million
3. Basketball — $33.5 million
4. Football (Pro American) — $29.6 million
5. Soccer — $23.3 million
Colorado imposes a 10% tax on the sports betting proceeds of retail and online casinos. In August, that figure reached $2,375,442. Voters in 2019 approved Proposition DD, which directs the state to spend nearly all tax revenue from sports betting on the Colorado Water Plan.
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Key context: Booming popularity of the WNBA and star players like Caitlin Clark is reflected in sports gambling wagers placed in Colorado. The state division of gaming does not provide figures for specific leagues. However, the NBA and NCAA did not play basketball games in August, and the sport outpaced preseason NFL, soccer and early-season NCAA football games.
Looking ahead: Colorado sports gamblers will shift their attention to the NFL as regular season play continues. Last year, per the state division of gaming, football (Pro American) was the most wagered on sport in Colorado between September and December. Will the Broncos end up hitting the over on total wins (5.5) this season? The Denver Gazette sports business insider will keep you in the loop.