The Colorado Department of Revenue reported $28.2 million in gross sports betting revenue for June on Monday as operators posted huge year-over-year gains.

The haul was more than triple last year’s $9.2 million, when the house got pounded paying out winning futures tickets after the Denver Nuggets claimed their first NBA title. Operators also got an unexpected revenue boost from the College World Series, where they collected nearly $1.2 million from college baseball wagers thanks to a whopping 80% hold.

Handle ticked 12.8% higher from last year to $350.4 million, which was also down 21.7% from May. All but $1.5 million of those wagers came via sports betting apps. The hold on gross revenue was 8.1%, more than five percentage points higher from last June and two points lower than May.

The state was eligible to levy taxes on $19.2 million in adjusted gross revenue, which directed $1.8 million into state coffers. The $15.2 million in taxes collected during the first six months of the year is more than $3 million ahead of last year’s pace.

1 New York $1.48B
2 New Jersey $748.4M
3 Mass. $509.4M
4 Penn. $464.5M
5 N.C. $398.3M
6 Maryland $384.7M
7 COLORADO $350.4M
8 Tenn. $342.2M
9 Indiana $298.2M
10 Michigan $285.2M#SportsBettingX #GamblingX

— Chris Altruda (@AlTruda73) July 29, 2024

Overall, NBA revenue swung more than $14.7 million to the house’s favor compared to last June, when they paid out $10.8 million above the $57.9 million in accepted wagers. Operators won $3.9 million this time around, crafting a 6.6% hold against $59.2 million in handle.

The College World Series generated nearly eight times as much revenue for sportsbooks as it did in 2023, when they still posted a robust 11.8% hold in collecting $150,200. Handle increased 16.1% to $1.5 million, and it was the third straight year wagering on college baseball cleared $1 million in June.

The European Championship also treated Colorado sportsbooks well as they posted an 11.3% win rate by claiming $3.1 million in revenue from $27.7 million wagered. It was the third-highest monthly revenue total from betting on soccer, trailing the $4 million-plus accrued in March 2023 and the $3.3 million primarily from the World Cup in November 2022.

Revenue from table tennis, long a popular niche sport for betting in the Centennial State, reached seven figures for the third time in four months at $1.1 million. A record $15.1 million was wagered, and the $80.2 million handle through the first six months of the year is 72% of the $111 million full-year handle of 2023.

Year-over-year baseball handle was nearly flat at $104.5 million despite the Colorado Rockies having the worst record in the National League. Revenue was up 23.9% to $5.6 million as the 5.3% win rate was a full percentage point higher.

Colorado bettors got back to the norm for parlays and same game parlays, limiting the house to a 12.1% hold from $73.1 million in handle. That was 10.4 percentage points lower than May as revenue plunged 57.8% to $8.8 million. The year-to-date statewide hold on the multi-leg bets is 15.7%, notably lower compared to Oregon (23.1%), Illinois (20%) and New Jersey (19.2%).

They also dealt operators their second-biggest monthly loss in golf, coming out $555,000 ahead on $8.5 million in handle. That trailed only the $713,700 paid out above $8 million worth of bets placed last July.

Colorado became the ninth state to surpass $3 billion handle this year, with wagering up 17.6% compared to the first half of 2023. The $229.5 million in gross revenue is up 27.6% as the 7.6% hold is nearly six-tenths of a percentage point higher.

Adjusted revenue is up 28.4% to $153.8 million, boosted by the state collecting $17.2 million above last June’s total of nearly $2 million. That accounts for more than half the $34 million more in AGR reported for the first six months of 2024.

Retail sportsbooks topped the 7% industry hold for the first time since last September as they collected $111,200 in gross revenue from $1.5 million in handle. The brick-and-mortar locations at Black Hawk, Cripple Creek, and Central City have combined for a paltry $182,600 in winnings and 1.1% hold this year after absorbing six-figure losses in both February and April.