Sports betting revenue in Colorado declines to an estimated $392 million in April.
In the world of sports betting, the United States is rapidly becoming a major player. As of mid-2025, New York and Colorado are among the top states in terms of sports betting handle and revenue.
New York, in particular, is shining bright. In May 2025, bettors wagered an impressive $2.2 billion, generating approximately $250 million in gross gaming revenue. This strong performance is due in part to a notably high hold rate, making it one of the strongest markets nationally.
Colorado's sports betting scene is also thriving. Although May's handle was lower compared to previous months, it still contributed to a high sportsbook hold rate, indicating profitable sportsbook operations despite the decreased betting volume.
The nationwide sports betting handle in 2025 is projected to be around $43.9 billion, with gross revenue nearing $3.94 billion through mid-year. This reflects an average hold percentage of about 9.0% across all legal states. New Jersey also remains significant, surpassing $1 billion in monthly handle in May 2025.
Major markets such as Pennsylvania and Ohio are also showing strong sportsbook hold percentages for 2025, amid fluctuating handle volumes. The national commercial sports betting revenue through May 2025 totaled around $6.5 billion, with $12.1 billion wagered in May alone, up 15.5% year-over-year.
Looking back to April 2022, Colorado's sports wagering handle was $392.3 million, a significant increase of 60.5% compared to April 2021. The state has claimed more than $4.3 million in tax receipts through the first four months of 2022.
Colorado's total sports bets after two years of legalized betting is nearly $7 billion. Operators recorded their highest monthly handle total for baseball, accepting close to $69.9 million worth of bets. The house kept nearly $10.9 million of $73.4 million wagered on parlay bets in April, with the sportsbooks' win rate slightly improving from March to nearly 5.8% in April 2022.
In terms of promotional spend, it has totaled $69.9 million thus far, an 81.9% spike compared to the $38.4 million operators furnished from January to April of last year. Promotional credits totaled just over $11 million in April 2022.
However, the absence of Russian and Belarusian markets in April 2022 led to a drop in table tennis handle, which was less than 20% of the average monthly handle generated over the previous 12 months.
Despite a second straight year operators reporting a net loss for college basketball in April, Colorado bettors came out nearly $500,000 ahead on close to $9 million wagered on college basketball in April. Bettors also came out ahead in NCAA Tournament wagering on the Final Four and title game.
In pro basketball wagering, operators failed to reach a 3% hold for the fourth time in six months, providing the second-highest revenue total at nearly $4.4 million. More winning pro football tickets were paid out, as the house was nearly $90,000 under versus more than $2.4 million in accepted wagers.
As of April 2022, Colorado ranks sixth in all-time Top 10 sports betting handles post-PASPA by state. New York will also cross the $7 billion threshold in May 2022, making it the eighth state to reach that milestone.
The overall parlay revenue since launch represents close to 40% of all gross operator revenue, with the win rate for parlay bets in April 2022 at 14.8%, slightly above the all-time parlay win rate of 14.1%.
In short, the US sports betting market is expanding rapidly both in volume and revenue. New York leads with consistently high monthly handle and revenue, Colorado and New Jersey maintain significant stakes with strong sportsbook profitability, and overall, the sector shows promise for continued growth.
- In the burgeoning world of sports-betting finance, the high hold rate in New York's sports-betting scene has made it one of the strongest markets nationally, as seen in May 2025 when bettors wagered $2.2 billion, generating $250 million in gross gaming revenue.
- Colorado's sports betting operations, despite lower betting volume in May 2025, still exhibit a high sportsbook hold rate, contributing to the overall national commercial sports betting revenue of around $6.5 billion by May 2025.
- Over two years of legalized betting, Colorado's total sports bets have nearly reached $7 billion, with operators recording their highest monthly handle total for baseball and a notably high percentage of revenue coming from parlay bets, representing close to 40% of all gross operator revenue.
