The Colorado Division of Gaming has published the monthly sports betting numbers for May 2022, which showed that betting volumes decreased from month to month but increased when compared to the previous year’s results.
May 2022’s total handle was $360,325,438; this was an 8.2% reduction from the previous month’s total handle of $392,311,737. A year-over-year comparison reveals a rise of 44.6% from the total handle of $249,110,761 in May 2021. The total wagers placed throughout the current fiscal year, which runs from July 2021 to May 2022, come to $4,502,380,838, an increase of 79.4% over the total wagers placed during the same time period in 2020-2021.
Sports betting wagers generated $1,659,189 in taxes for the state in May 2022, a rise of 34.7% from the previous month, April 2022. Taxes paid until May 2022’s fiscal year to date (FYTD) are $12,176,182, a 75.8% increase over the $6,290,486 in FYTD taxes paid for the same time period in 2020–21.
Professional basketball once again took first place for the month of May in terms of wagers with just under $102 million, followed by baseball with just under $91 million. Ice hockey wagers finished third with $35.7 million at the start of the NHL playoffs in May. Soccer remained in fifth place with $12.2 million, while Tennis took the fourth place with $20.3 million.