Record taxes collected from sports betting in December

(COLORADO) — The Colorado Division of Gaming released its sports betting numbers for December 2022 on January 31st. This number represents an increase of over 100% from fiscal 2021.

Sports betting taxes collected by the state in December 2022 totaled $2,583,711, an increase of 0.08% from November 2022, the Colorado Gaming Department said. Compared to December 2021, it was an increase of 235.3%.

Taxes for the fiscal year so far in December were $13,399,746, up 115.9% from fiscal 2021, according to the Games division.

In December, basketball took the top spot with a total stake of $147,854,335, followed by soccer with $137,038,414.

Gambling taxes and sports betting taxes are different and support different programs. 78% of the gambling tax goes to financial aid and classroom instruction for Colorado’s community, junior, and district colleges, and the remaining 22% goes to gambling establishments to combat the impact of gaming. Used for cities and counties.

The sports betting tax is intended to help other gambling tax revenue recipients in the event of losses from the legalization of sports betting, gambling addiction counseling services, and funding of water projects under the state water plan. used for