Colorado embraced sports betting in a way few experts predicted. Gamblers ended up wagering $2.3 billion in the first year since it was introduced in May 2020. All together, the state’s Department of Revenue said gambling companies made $65 million in profits from May of 2020 to May of 2021. That calculates out to $6.5 million in tax revenue that the state will collect since the proceeds are taxed at 10%.

A year ago, the state gaming division projected tax revenue would be somewhere between $1.5 and $1.7 million which was equal to one fourth of the revenue the state will actually collect.

Even though the actual collection amount has far surpassed expectations, that doesn’t mean more money will go toward solutions and treatment programs for people with gambling addictions.