Colorado sportsbooks took in revenue of $4.2m in September, down 44.6% month-on-month, even as betting handle continued to shoot up beyond $200m, as low margins hit operators in the Centennial State.
The drop in revenue was due to a drop in margin to just 2.0% compared to 5.9% in August, as stakes grew 61.4% to $207.7m, exceeding the record set last month. Of this total, $203.9m came from retail bets, up 60.9%, while the remaining$3.8m came from retail, up 90.1%.
Of the $4.2m in gross gaming revenue, the vast majority – $3.8m – again came from online, but revenue from this channel was down 48.3%. Retail revenue, on the other hand, increased by 65.8% to $403,000.
Parlay bets brought in revenue the vast majority of revenue, at $3.9m, a 47.3% increase, as players staked $28.2m, up 24.3%.
