colorado legalises sports betting

Colorado votes to legalise sports betting

Colorado has become the most recent US state to say yes to regulating sports betting, after a narrow referendum result. In the end, ‘Proposition DD’ was passed with 50.7% of participants voting in favour.  

The bill includes a statewide regulation of wagering via online and mobile sportsbooks, which will be welcomed by affiliates with traffic from this state. In addition to online, sports betting shall also become legal at the Centennial State’s 33 land-based casinos. 

Sports betting in Colorado: a public decision 

A public vote was called because the matter would’ve involved raising taxes. For matters such as this, the population of Colorado always has the final say. It’s reported that people in urban areas, such as Denver, tended to favour sports betting regulation more than those in rural places. In fact, the majority of the state’s 64 counties voted against it. 

It’s planned that the increased taxes will fund state water projects. That was the angle taken on the ballot paper, to provide transparency on where the money would go and who would be paying. 

Following the result, the state’s regulated sports betting market could open as soon as 1st May 2020. However, this is only if each casino operator can sign up their land-based and digital betting technology partners beforehand. Those partners must also have their technology approved prior to the deadline. The tax rate on operators’ betting revenue will be 10%. 

Post-PASPA US sports betting 

Affiliates have kept a close eye on US markets since PASPA was repealed in May 2018. Prior to this, sports betting was legal in New Jersey, Nevada and Delaware. Since then, the likes of Pennsylvania and Indiana have regulated online wagering in their jurisdictions. 

Although sports betting is currently legal in New York, this is only the case in a brick-and-mortar sense. The likes of Arizona, Washington and Texas have considered regulating these activities, but in the end chose not to.

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