Under Colorado law, sports betting tax revenue supports the Colorado Water Plan Grant program, which funds major water projects across the state.
DENVER — Colorado sports betting hit a new milestone in October — and it means millions more for the state’s water projects.
The Division of Gaming reported $4.8 million in sports betting tax revenue for October, the highest monthly total since wagering became legal in 2020. The figure nearly doubles the amount collected last October.
Officials said parlays and football wagers helped drive betting activity, pushing the total amount wagered to more than $680 million for the month. It marks the second time this year Colorado has broken its monthly tax revenue record.
Gaming officials said the repeated record-breaking totals demonstrate the industry’s rapid growth.
Under state law, all sports betting tax revenue goes directly to the Colorado Water Plan Grant Program, which funds river restoration, aquatic habitat projects and efforts to improve water supply across the state.
The Colorado Water Conservation Board recently launched an online Water Funding Explorer, allowing Coloradans to view how grant dollars are being used.
