On Thursday, Colorado’s Department of Revenue reported that the Centennial State’s online sports betting sites and retail locations accepted $547.1 million in bets to start 2023 — a 5.6% increase from December’s $518 million.

Despite the bump in handle, Colorado saw their tax bill unchanged. January was just 0.1% higher than December’s $2.58 million, marking a bleak $2,700 gain. Year-over-year state taxes saw a 78.6% jump.

Sportsbooks saw their hold percentage fall from 7.9% to 6.4%. Brick-and-mortar operators struggled, only seeing 2.1% of their handle stay as profit. This won’t affect many sportsbooks since over 99% of Colorado’s legal sports betting wagers are made online versus in person.

In January of 2022, sports betting in Colorado had its best month, boasting a handle of $573.7 million. One year later, the state has yet to surpass that number.