Colorado approves sports betting legislature. With the Colorado Proposition DD, the Legalize Sports Betting with Tax Revenue for Water Projects Measure, receiving 51.1% of the vote.
Making it 19th U.S. state to officially legalize sports betting industry. As a result, Legal Colorado Sports Betting operations are expected to begin by May 2020.
Colorado Sports Betting
On April 18, the Colorado state’s sports betting bill, HB19-1327, was initiated. At the rate of knots, the bill passed through the state legislature. Furthermore, the bill establishes the Colorado Gaming Control Commission to regulate the sports betting sector.
According to Proposition DD, all casino winnings will be taxed at 10%. Whereas, the state water plan uses the majority of the revenue.
A referendum took place on Wednesday, November 6. With more than 1.4 million ballots counted, including a total of 756,720 upvotes to legalize Colorado sports betting, while 723,665 votes are against it.
The proposition read: “Shall state taxes be increased by $29 million annually to fund state water projects and commitments. Additionally, to pay for the regulation of sports betting through licensed casinos by authorizing a tax on sports betting of ten percent of net sports betting proceeds, and to impose the tax on persons licensed to conduct sports betting?”
Land-based and Mobile – Colorado Betting
Eventually, by the next 6 months, Colorado will legalize both land-based and mobile sports betting. Until then, Colorado has enough time to prepare the necessary regulatory environment.
Colorado has 38 casinos and most of them fall into one of three approved gambling locations: Black Hawk, Central City, and Cripple Creek. Whereas, all the land-based casinos must obtain a master license to offer sports wagering. In fact, this permit allows them to contract entities holding either sports betting operator license or internet sports betting operator license.
Once the legal Colorado Sports Betting operations start, Coloradans aged 21 and above can place sports wagers at all legal land-based and mobile sports betting platforms.
Legal Sports Betting in the USA
Under the Professional and Amateur Sports Protection Act (PASPA), there was a federal ban on sports betting in the USA from 1992 to 2018. On May 14, 2018, The Supreme Court of the United States lifted the federal ban on sports betting.
Since then, 19 states have legalized sports betting and here is the list of states with the launch date of legal sports betting:
- Arkansas – July 1, 2019
- Delaware – June 2018
- Iowa – August 15, 2019
- Indiana – September 1, 2019
- Mississippi – August 1, 2018
- New Jersey – June 14, 2018
- Pennsylvania – November 16, 2018
- New Mexico – October 16, 2018
- New York – July 17, 2019
- Oregon – August 27, 2019
- Rhode Island – November 26, 2018
- West Virginia – August 30, 2018.
Whereas, some states have passed sports betting legislation, but didn’t launch it yet: Colorado, Illinois, Montana, North Carolina, Tennessee and Washington, D.C.
US Legal Online Sports Betting Websites
Online sports betting websites and mobile apps will verify players location within a legal betting area before allowing to wager. As a result, the player will be rejected from betting if outside the legal borders.
Another key point, not all that allow legal sports betting will choose to use online or mobile wagering platforms. While some have rules that allow online and mobile wagering anywhere within state lines. Others require all bets to be placed inside a casino.
Here are some of the top legal online sportsbooks in the USA: