The Colorado Department of Revenue reported a collective hold for 11.4% among its sportsbooks for August on Tuesday, nearly matching the highest recorded in state history.
While the win rate rounded up to match the 11.4% posted in September 2022, that hold from nearly three years ago was seven-thousandths of a point higher at 11.403% compared to August’s 11.396%. Colorado sportsbooks have attained win rates of 9.9% or higher for four consecutive months, with each of them ranking in the all-time top eight.
The strong month for operators led to $47.5 million in gross revenue from $417.2 million worth of wagers. Operator winnings were up 43.2% compared to last year, easily outpacing the 12% increase in handle. After the allowable 2% in promotional deductions, 0.25% federal excise tax, and any losses reported by operators, the state was able to levy taxes on $38.7 million in adjusted gross revenue and claim $3.7 million for state coffers.
Follow the parlays for revenue growth
Historically, Colorado has been a state where bettors have fared above average when it comes to parlay wagering. The end-of-year holds for 2023 and 2024 were below 15%, but operators have been held under that percentage just once in 2025.
Sportsbooks had a 19.9% win rate on the multi-leg wagers in August, collecting $19.7 million in revenue from $99 million handle. That extended a surge for operators over the last four months during which they have attained a 20.4% hold on parlays to claim $78.2 million in winnings from $383 million worth of wagers.
It is the second-best four-month span for parlays in state history in terms of performance, behind the 20.5% win rate achieved from September-December in 2022. Colorado sportsbooks have a 17.5% hold on parlays through the first eight months of 2025, lifting the all-time win rate to 15.3%.
Baseball also provides a revenue boost
Even with the Colorado Rockies in the throes of a historically miserable season in which they finished with 119 losses, sportsbooks in the Centennial State still found success when it came to baseball betting. Handle was practically flat at $103.1 million, but the $8.2 million in revenue was nearly double compared to August 2024 as the 7.9% hold was nearly 3.9 percentage points higher.
The “Deion Effect” still holds true for college football wagering entering Colorado coach Deion Sanders’ fourth season. Year-over-year wagering was up 47.2% to $20.5 million, and a 16% win rate meant revenue more than doubled to nearly $3.3 million. The house was likely helped by the Buffaloes losing their season opener 27-20 at home to Georgia Tech on Aug. 29.
Revenue from pro football was down 28.9% to $4.1 million, though the hold was still healthy at 14.3%. The $29 million wagered likely included plenty of NFL futures wagers, but was also down 2%.
Finally, it would not be a Colorado sports betting report without a check-in on table tennis, which continues to be a top draw for bettors. All-time wagering on the niche sport surpassed $750 million after $23.9 million was bet in August.
Both 2025 year-to-date revenue ($16.9 million) and handle ($217.6 million) have exceeded full-year 2024 totals.
Colorado became the 26th state of 30 to post a double-digit hold for August, with only Illinois and Arizona yet to release monthly figures. Three straight months with 10%-plus win rates is also a first for Centennial State sportsbooks, as Colorado joined 19 other states that have strung together such efforts spanning June, July, and August.
