Revenue from sports betting in Colorado amounted to $15.2m in May, while consumers in the US state spent a total of $249.0m wagering on sports during the month.
Sport betting revenue rocketed 1,500.7% year-on-year from $946,641 record during the first month of legal wagering in May of last year. However, this figure was 13.6% lower than the $17.6m in revenue generated in April of this year.
Of the $15.2m generated in revenue in May, $14.9m was attributed to online betting, while the remaining $210,494 came from retail activities.
Turning to player spending and the $249.0m wagered on sports in May was up 872.7% year-on-year from $25.6m in May 2020 and also 1.2% higher than the $244.4m spent by players in April this year.
Consumers bet a total of $246.5m online during May, compared to $16.8m at retail sites across the state.
Basketball was by far the most popular sport to bet on in Colorado during May, accounting for 34.9% of all wagers placed in the month.
Baseball followed with 19.7% of all bets, then 6.2% on ice hockey. Parlays and combination bets also accounted for 17.5% of total wagers during May.
Colorado generated $635,641 in tax from sports betting in the month, while players won a total of $233.8m.