Colorado Sports Betting Revenue Soars In February – iGaming Post

In February 2025, Colorado’s sports betting market showcased a strong recovery with a Gross Gaming Revenue (GGR) of $46.4 million, marking a significant increase from the $25.8 million reported in February 2024. This growth exemplifies the ongoing expansion of the state’s sports betting sector, although it should be noted that this month’s GGR reflects a 23.9% decline from January 2025’s peak of $60.9 million.

Factors Driving Revenue Growth

Several key elements contributed to this substantial uptick in GGR:

1. Increased Participation: The uptick in the number of bettors is predominantly attributed to the proliferation of online platforms and the rapid adoption of mobile betting apps. This transition has made sports betting more accessible than ever, inviting a diverse range of participants to engage in the market.

2. Promotional Offers: Sportsbooks have responded to the competitive landscape by offering enticing promotions and bonuses. These initiatives not only attract new users but also incentivize existing bettors to increase their wagering amounts.

3. Major Sporting Events: February hosted several significant sporting events, especially in basketball, which significantly boosted betting engagement. The excitement surrounding these events directly correlated with increased betting activity.

Betting Volume Insights

During February 2025, the total amount wagered in Colorado amounted to $496.6 million. This figure represents a 7.5% decrease from the $536.99 million wagered in February 2024 and is notably lower than January 2025’s staggering $657.2 million.

Online vs. Retail Betting Trends

A critical observation arises from the distribution of wagers between online and retail platforms. In February, $493.6 million was wagered online, contrasting sharply with the $2.99 million placed in retail establishments. This stark difference emphasizes the growing preference for online betting options.

Basketball’s Dominance

Basketball emerged as the leading sport for wagers, drawing $163.99 million in online bets and $1.1 million in retail bets, accounting for 33% of the total sports betting handle. This substantial share reflects both the sport’s popularity and the significant impact of concurrent basketball events throughout the month.

While basketball led the charge, other sports such as football and hockey also visible levels of engagement, contributing to the overall betting landscape.

Online sports betting was particularly robust, generating $46.2 million of February’s total GGR, underscoring the pivotal role digital platforms play in the state’s betting ecosystem. In stark contrast, retail betting accounted for a mere $152,547 in GGR, highlighting the shifting dynamics of consumer preferences toward online wagering.

In conclusion, the current trends in Colorado’s sports betting landscape highlight a transformative period marked by technological advancements and strategic market adaptations. As the sector continues to evolve, operators and bettors alike should stay attuned to emerging opportunities and changing regulations that shape the gambling industry.