Despite Millions On The Line, Sports Betting In Colorado Is Collecting Less State Revenue Than You’d Think

From CBS Denver:

By Kati Weis

October 26, 2020

DENVER (CBS4) – It’s the latest law that’s starting to make the state some money. Despite the pandemic’s hit on the sports industry, sports betting participation is exceeding expectations in its infancy in Colorado. But even with millions on the line, you might be surprised to learn how little the state is actually making from the new revenue source.

Since sports betting became legal in May, the state has made $814,661.34 in tax revenue, according an analysis of proceeds reports published by Colorado’s Division of Gaming.

Read more at CBS Denver