The Colorado Department of Gaming has released a report showing that the 2024-25 fiscal year set a new record for sports betting within the state, with player wagers reaching $6.3 billion, an increase of $287 million from the previous fiscal year, and a 130% growth from the first full fiscal year of sports betting in Colorado (2020-21 fiscal year).
In terms of tax revenue, sports betting generated $37 million, which is $6.4 million higher than last year's record. These tax revenues will be allocated to water resource conservation projects managed by the Colorado Water Conservation Board.
Chris Schroder, head of the Colorado Department of Gaming, stated: "These record-breaking figures are significant for the gaming industry and the entire state. Every dollar will be used to protect Colorado's vital water resources, benefiting not only the present but also future generations. At the same time, it reflects our commitment to responsible gaming, ensuring all players enjoy a safe and enjoyable experience."
Additionally, since January 2024, Hard Rock Bet has officially launched in Colorado, marking its ninth state operation in the U.S. sports betting business. Colorado currently has 13 online sports betting operators, with increasingly active market competition.
