(COLORADO) — The Colorado Division of Gaming released the December 2022 sports betting numbers on Jan. 31. The numbers show an increase of over 100% from the fiscal year 2021.
Sports betting taxes collected by the state in December 2022 totaled $2,583,711 which the Colorado Division of Gaming said was an 0.08% increase from November 2022. Compared to December 2021 it was an increase of 235.3%.
The Division of Gaming said the fiscal year taxes to date for December are $13,399,746 which it said was a 115.9% increase from the fiscal year 2021.
December showed Basketball as the top spot for betting with $147,854,335 in total wagers followed by Football with $137,038,414 in bets.
Gambling taxes and sports betting taxes are different and support different programs. 78% of gambling taxes go towards financial aid and classroom instruction at Colorado community, junior and district colleges, the other 22% goes toward the cities and counties with gambling establishments to address the impacts of gaming.
Sport betting taxes go towards helping recipients of other gambling tax revenue in case of losses due to the legalization of sports betting, gambling addiction counseling services, and funding water projects under the State Water Plan.