When Did Sports Betting Become Legal in Colorado

Keep an eye out for the Denver Post`s ongoing sports betting coverage to stay up to date. DORA completed a sunset review in early 2020, in which the agency recommended transferring DFS regulations to the Gaming Division. Once the transition is complete, there are strong signs that DFS`s activities will be regulated by the gaming department, not the Treasury Department`s sports betting division, according to Suzi Karrer, head of communications for the Colorado Department of Revenue. Under the motion, Hartman asked former Attorney General Cynthia Coffman to provide a formal statement on whether constitutional hurdles under section 24-31-1O1(1)(b), S.C.R. prevented the state from advancing plans to legalize sports betting. “I think when we started, we were very conservative and didn`t know how this was going to go,” he said. “But we`ve been really impressed and I think we`re happy with the numbers that have come in.” Have a question about sports betting in Colorado? Submit it here and you can answer it in a future article. Most of the financial support for the proposal came from the Colorado casino industry, legal online sports betting stakeholders like DraftKings, and other companies with a financial interest in legal sports betting coming to Colorado. “The results, while close, were a pleasant surprise for an election measure with terrible language and a lackluster campaign,” said Brendan Bussmann, director of government affairs at Global Market Advisors. “It provides a cautionary tale for other states that want or need to bring sports betting to voters that you need clear language and a strong campaign, or you end up in a tight campaign.” Despite a global pandemic, sports betting launched on May 1, 2020, when four big names, DraftKings, FanDuel, BetMGM and BetRivers, were all put online. This came just six months after the DD Proposal passed on election night in November 2019, a measure that narrowly passed by a margin of 51.4% to 48.6% and paved the way for licensed operators across the state to accept sports betting from now on. The regulation also provides for the appointment of an independent integrity monitor to assist the ministry in identifying anomalous cases. Major League Baseball officials have urged the division to create rules that would require the controller to alert professional sports leagues as soon as possible in the event of potential fraud.

Conversely, several sports bets have warned regulators of conflicts that could arise if third-party providers with business relationships with the league are appointed as independent observers. After that hurdle was removed, more than a dozen states — including Colorado — quickly adopted various forms of legal sports betting, driven by the new revenue stream that legal sports betting could provide, as well as the ability to siphon off demand from the state`s illegal sports betting market. The DD Proposal introduced a 10% tax on casinos, which is expected to generate $16 million to $29 million annually. The money will primarily fund Colorado`s water projects and commitments, including those covered by the Colorado Water Plan. In addition, $130,000 a year is used for gambling addiction services, and 6% of taxes are allocated to the state compensation fund, which supports casino towns, community colleges, and other entities funded by gambling revenue that can prove they have lost money due to a decline in participation in traditional gambling and horse racing after sports betting is legalized. Colorado`s sportsbook laws allow personal betting at licensed casinos in Black Hawk, Central City, and Cripple Creek, as well as tribal casinos in southwest Colorado and via mobile or web apps that have partnerships with licensed casinos in Colorado. Some of the most popular digital platforms we know are already available in Colorado are DraftKings, FanDuel, PointsBet, Betfred, Barstool Sports, and Circa Sports. Colorado voters legalized sports betting in November 2019 with the passage of the DD Proposal.