The summer slump for legal sports betting is over. Thanks to September baseball and football season, legal betting states are seeing an uptick in action.
Colorado’s Department of Revenue announced that the state’s online sports betting sites accepted $306 million in wagers in August, an 8.8% monthly increase. And, after paying out winning tickets, the sportsbooks kept $25.8 million, an 8.4% hold. An 8.8% hold was reported in July.
The drop in hold hurt Colorado sports betting operators more than the state’s coffers. Sportsbooks reported $18.6 million in net receipts, slightly less than July’s $19 million. But, the state’s tax bill hit $1.8 million, slightly higher than July’s $1.7 million.
