The Colorado Division of Gaming have released the May 2022 monthly sports betting figures, which saw betting volumes dip from month to month but soar compared to last year’s figures.
The total handle for May 2022 was $360,325,438, an 8.2 per cent decrease from the total handle of the prior month, April 2022, of $392,311,737. A year-to-year comparison shows a 44.6 per cent increase from the total handle of May 2021, $249,110,761. The total wagers for the current fiscal year, July 2021-May 2022, total $4,502,380,838, a 79.4 per cent increase in the total wagers made in the same period 2020-2021.
Taxes collected by the state in May 2022 from sports betting wagers totaled $1,659,189, representing a 34.7 per cent increase over the prior month, April 2022. Fiscal year taxes to date (FYTD) for May 2022 are $12,176,182, which is a 75.8 per cent increase from the FYTD taxes for the same period in 2020-21 of $6,290,486.
In May, professional basketball again placed in the top spot for the month with just under $102m in total wagers, followed by Baseball with just under $91m in wagers. The beginning of the NHL playoffs in May, resulted in Ice Hockey wagers placing in third with $35.7m. The fourth spot went to Tennis with $20.3m, and Soccer stayed in the fifth slot with $12.2m.