Colorado's April’s $507M Handle Wasn’t Luck, It Was Design

April Revenue Insights

DENVER — July 8, 2025
A single sportsbook bet in Colorado might last five seconds on someone’s screen. But it leaves a long trail behind: it’s recorded, audited, taxed, and, eventually, redirected into public funds. None of this makes headlines. But it’s the reason Colorado’s betting economy keeps working.

In April 2025, that system processed more than half a billion dollars in wagers. Not a record. Not a surprise. Just consistent, structured throughput.

Category	Value
Handle (Total Wagers)	$507,860,831.16
Gross Revenue (GGR)	$47,275,156.21
Hold Rate	9.31%
State Tax Collected	$3,402,121.75

By the end of the month, funds had moved from 14 online operators, through the Colorado Division of Gaming, and into a general fund pipeline built to do exactly this.

Colorado currently has 14 active sportsbooks, (Bally Bet, Bet365, BetMGM, BetMonarch, BetRivers, Caesars, Circa, DraftKings, ESPN Bet, Fanatics, FanDuel, SBK, SuperBook, andSporttrade), more than New Jersey, more than most states of its size. Each is independently licensed and responsible for tracking payouts, promotions, and tax obligations in real time.

The point here isn’t how many there are. It’s that they all connect to the same regulatory back-end.

A Structured Monthly Output

Colorado’s April figures didn’t appear out of nowhere. They’re the result of four years of calibration.

Year	Handle	Revenue (GGR)	Tax Collected
2021	$244.4M	$17.56M	$1.08M
2022	$392.3M	$22.57M	$1.23M
2023	$417.8M	$35.15M	$2.58M
2024	$509.5M	$32.03M	$1.91M
2025	$507.9M	$47.28M	$3.40M

What’s notable this year is the revenue jump. Even with a slightly smaller handle than April 2024, Colorado sportsbooks generated 47% more revenue. Higher hold rates. Tighter pricing. Fewer bonus deductions.

The system didn’t grow in size. It grew in efficiency.

Compare All U.S. States Sports Betting Revenue

Colorado vs. Tennessee

Tennessee and Colorado have similar populations and market size, but different systems. Tennessee applies a 20% flat tax on gross revenue. Colorado taxes 10% on adjusted revenue.

In April 2025:

State	Handle	GGR	Tax Revenue
Tennessee	$463.6M	$42.78M	$8.56M
Colorado	$507.9M	$47.28M	$3.40M

The higher tax rate that Tennessee imposes on its 12 sportsbooks has led to much more in tax revenue for state projects.

Colorado’s April numbers reflect a stable, competitive market that continues to function as expected. Revenue rose. Taxes were delivered. That’s not luck. It’s structure.

The handle stayed strong. The hold improved. And the revenue cycle worked from end to end without disruption.

Sol Fayerman-Hansen

Editor-in-Chief

Sol Fayerman-Hansen is Editor-in-Chief at RG.org with 20+ years of experience in sports journalism, gambling regulation, and tech. His work has appeared in Forbes, ESPN, and NFL.com, covering U.S. and Canadian gambling laws, major sports events, and wagering trends. Since 2023, Sol has led RG.org’s global editorial efforts, focusing on transparency, data accuracy, and regulatory insight. He works closely with researchers and legal experts to uphold E-E-A-T and Trust Project standards.📍 Israel/Canada 🌐 English, Hebrew 🎯 Gambling law, responsible gaming, tech in betting

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Colorado's April’s $507M Handle Wasn’t Luck, It Was Design

April Revenue Insights

47.3M

9.31%

3.4M