Colorado Records $6.4 Billion Sports Betting Handle in FY26

Wagers in Colorado reached a peak of $6.4 billion for the 2026 fiscal year, up from the previous year’s figure of $6.3 billion and representing a year-on-year increase of 2.3%. The figure is also the highest amount wagered since the state legalized sports betting in 2020. 

The figures, posted by the Colorado Department of Revenue’s Division of Gaming, show that pro basketball made up the majority of the handle, generating $1.4 billion in wagers. NCAA basketball ranked lower, with March Madness generating only $173.6 million in bets for the Colorado sports betting market.

Pro football was the second-highest generator for the fiscal year, generating a handle of $853.7 million. This was followed by baseball with $548.1 million, table tennis with $346.4 million, and soccer, most likely fueled by the World Cup, which began in June, generating $344.1 million. 

Tax revenue from Colorado sports betting apps for the year totaled $47.2 million, up 28.1% year-on-year from $36.8 million. According to the Department of Gaming, the figure is the first time the state has recorded more than $40 million in tax revenue in a single year. Sports betting tax revenue in Colorado goes towards funding the state’s water projects. 

"Achieving over $47 million in tax revenue this fiscal year is a historic milestone for Colorado’s sports betting industry. This record-breaking performance is not just an indicator of a thriving and engaged market, but a vital engine for our state’s future," said Christopher Schroder, Director of Gaming. "By channeling these funds directly into critical water conservation projects, our residents are ensuring that every wager contributes to a more resilient Colorado, helping us protect our natural resources even in the face of significant environmental challenges." 

Colorado governor signs sports betting limits bill

Despite Colorado having its best year in terms of sports betting wagers, that hasn’t stopped lawmakers from introducing a bill that would create new restrictions for the state’s sports betting market. 

Senate Bill 131, introduced in February with bipartisan support from Senators Matt Ball and Byron Pelton and Representatives Steven Woodrow and Dan Woog, established deposit limits for bettors and an outright ban on using credit cards to place wagers. Residents will need to find another way to take advantage of Colorado sportsbook promos.

The legislation also banned sportsbook operators from targeting those under 21 and from sending push notifications that encourage more gambling. 

The bill made its rounds through both legislative chambers, first passing the Senate in April by a vote of 20-14, then passing the House in May by a vote of 50-13. The legislation was then sent to Governor Jared Polis at the end of May and signed into law on June 1. 

Although it passed, the bill faced strong opposition from sports betting operators, such as DraftKings and FanDuel. The companies argued that the restrictions would only force bettors to unregulated sites, as well as limit funding for the state’s water projects.