Colorado Legal Sports Gambling

 

Yes, sports betting in Colorado is legal.

Sports betting in Colorado

Legal Sports betting launch. Colorado is not the first state to legalize sports betting by any means, and they likely won’t be the last. As of November 2019, the Centennial State passed a bill regarding sports betting legislation, which was voted for by the people of Colorado. Colorado Online Sports Betting Brings Stiff Competition In addition to the aforementioned sportsbook operators, FOX Bet, PointsBet, and even the yet to be launched Barstool Sportsbook will likely wind up in Colorado sometime in 2020, creating what is expected to be one of the most hotly contested legal sports betting states in the country.

The Centennial State became the 18th state to accept legal sports wagers on May 1, 2020. Colorado’s General Assembly passed HB19-1327 in May 2019, which was followed by the governor signing the bill into law; however, a statewide referendum vote had to be approved by a majority of voters.

The measure narrowly passed in the November 2019 election by a 50.7% to 49.3% margin. According to PlayColorado.com, legalized sports betting could generate as much as $6 billion annually in bets and $40 million in tax revenue.

Online sportsbooks in Colorado

BetMGM Sportsbook entered an exclusive primary skin agreement with Midnight Rose Hotel and Casino in Cripple Creek. It was one of four online sportsbooks to go live May 1, 2020. All wagers must be made within Colorado state lines. Mobile devices will use location technology to verify you are within the state borders.

BetMGM

Online Sports Gambling Legal

Gambling

Legal Gambling States

BetRiversDraftKingsFanDuel

The below apps have not yet launched, but are next in line to do so.

BetAmericaBetfredCarousel GroupCirca SportsDigital Gaming Corp.Fox BetInternet Sports InternationalMonarch CasinoPenn Sports Interactive (likely to become Barstool)PointsBetSmarketsSuperBook USAtheScore BetWilliam HillWynn Resorts

Retail sportsbooks in Colorado

Midnight Rose (BetMGM) – Cripple CreekGolden Gates – Black HawkGolden Gulch – Black HawkJ.P. McGill’s – Cripple Creek

The following brick-and-mortar casinos are likely to launch sports betting once they are ready and once the state allows them to reopen following closures due to COVID-19.

Ameristar – Black HawkBilly’s Casino – Cripple CreekBrass Ass – Cripple CreekBronco Billy’s – Cripple CreekBull Durham – Black HawkCentury – Central CityCentury – Cripple CreekChristmas – Cripple CreekColorado Grande – Cripple CreekDostal Alley – Central CityDouble Eagle – Cripple CreekEasy Street – Central CityFamous Bonanza – Central CityGilpin – Black HawkGrand Z – Central CityIsle – Black HawkJohnny Nolan’s – Cripple CreekLady Luck – Black HawkMardi Gras – Black HawkMonarch – Black HawkSaratoga – Black HawkThe Lodge – Black HawkWild Card Saloon – Black HawkWildwood – Cripple CreekZ Casino – Black Hawk

For more sports betting information and betting tips, visit SportsbookWire.com. And follow @SportsbookWire on Twitter and on Facebook.

19th US state to legalize sports betting

Colorado Legal Sports Gambling Advice

Colorado now officially has legal sports betting after voters narrowly passed the motion. This makes it the 19th state in the country to legalize the pastime.

the 33 casinos in the state can now look at acquiring a master sports betting license

Proposition DD called for the introduction of a 10% tax on all net sports betting revenues. Now that voters have given it the green light, the 33 casinos in the state can look at acquiring a master sports betting license. The plans are to have live sportsbooks in Colorado by May 2020.

Colorado Legal Sports Gambling Websites

The closely fought motion saw 1.4 million ballots counted. The result was too close to call on the night of the election. At one stage, it looked likely that a recount would be needed. It later became clearer that it had received enough votes to get over the line. By the end of Wednesday, Proposition DD had 50.8% of votes in favor of passage.

The majority of the 64 counties in Colorado were against the measure, but it was through voters in the larger counties such as Denver, Jefferson, and Douglas that the motion was passed.

The tax revenues will be put to good use

The money that will go to the state from the new flat tax will mainly be used to fix the water facilities around Colorado. A smaller portion of the funds will go to local governments and the Division of Gaming to help treat gambling addiction.

The government estimates a tax intake of around $11m in the next financial year (which doesn’t begin until July 2020, by which time sports betting should be up and running).

Colorado Legal Sports Gambling

Colorado Legal Sports Gambling

state hopes to take in as much as $29m annually in tax revenue

The Colorado Division of Gaming will be the regulator for the sports betting sector. Once the market matures in a few years, the state hopes to take in as much as $29m annually in tax revenue.

One of the main groups in support of legalization was the Water Resource Advocates. Responding to the news of the victory for Proposition DD, the group released a statement maintaining that: “Taxing the revenue from legalized sports betting will create a dedicated down payment to help ensure that Colorado has healthy rivers and enough water for all.”

Colorado State Senator Kerry Donavan says the passing of this proposition is an investment into the water future of the state.

Legalization has been a long time coming

Lawmakers had already been in agreement in May on the issue on a bipartisan level. A public vote was then needed as an alteration to the Taxpayer’s Bill of Rights had to be made.

There was not much public opposition to the legalization. Most people believe this move will curtail black-market betting and better protect consumers in the process.

Legal Sports Gambling New York

The Republican House Minority Leader, Patrick Neville, said: “Bringing sports betting into the daylight, regulating it and leveraging it for the benefit of our water future is a common-sense approach.”

Colorado Legal Sports Gambling Rules

Moves already being made

With sports betting legalization in Colorado, each casino operator in the state can now apply for a master license. These companies can then partner with sportsbook operators to open a retail and/or an online sportsbook.

Some sports betting brands have already been trying to strike up companies with local casinos in advance of this vote. UK sports betting firm Smarkets already has a partnership with the Full House Resorts casino developer. The deal was struck earlier in 2019 and will see Smarkets operate the online sportsbook for the company in Colorado.