Colorado Sports Betting
In April 2019, Republican Minority Leader Patrick Neville introduced a bill that would place a betting question on the ballot in November. The bill, would decriminalize sports betting in the state and allow for the issuance of a "limited number" of licenses to offer sports wagering, cleared the state’s Senate in May and awaits Governor Jared Polis’ signature. If voters approve, a land-based Colorado sports betting market could be operating by 2020.
In May 2019, the Colorado General Assembly approved statewide sports betting. However, since a voter-approved consitutional amendment requires that any legislative vote to raise taxes go to the ballot for approval, it didn’t get approved or become a law until November 2019 when Polis signed HB 1327.
Colorado launched sports betting in May 2020 at four retail sportsbooks. Three types of sports betting licenses are offered to sports betting operators: Master license, Sports betting operator and Internet sports betting operator. Each of Colorado’s casinos can apply for a master license. If the casino is approved, they partner with a retailer or online sports betting operator. Some sportsbooks also offer both. Sports betting is taxed at a 10% rate.
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