Overview of Colorado Sports Betting Legislation
Colorado's sports betting industry has been steadily evolving, creating a robust framework for both in-person and online betting enthusiasts. This guide provides a comprehensive overview of the current regulations, legislative developments, responsible gambling initiatives, and key players in the Colorado sports betting market.
Colorado Sports Betting, A Brief Timeline
Colorado's journey into sports betting began in 2019, following the US Supreme Court's decision to overturn the Professional and Amateur Sports Protection Act (PASPA). This paved the way for individual states to legalize and regulate sports betting. In November 2019, Colorado voters approved Proposition DD, legalizing sports betting in the state. The first legal bets were placed in May 2020, marking a significant milestone in Colorado's sports betting timeline.
What's happening in Colorado Sports Betting Right Now
Colorado's sports betting market continues to expand, attracting new operators and partnerships. As of April 2024, 20 online sports betting sites operate in the state, more than any other U.S. state, and several retail sportsbooks are available at various locations. The industry's growth has been fueled by a mix of new entrants and strategic alliances between casinos and sportsbooks, offering a diverse range of betting options.
Updates and Amendments to Colorado Betting Laws in 2024
2024 has brought several key changes to the state's legal framework. Here are some notable developments:
- New Licensing Rules: The Colorado Division of Gaming (CDG) has revised its licensing requirements for sports betting operators. Applicants for a master license must undergo a more comprehensive financial assessment, including detailed reviews of funding sources and business models.
- Taxation Policy Adjustments: In response to the growing sports betting revenue, Colorado has updated its taxation policies. The state's 10% tax on gross gaming revenue (GGR) remains in place, but new reporting requirements mandate more frequent and detailed revenue reports from operators.
- Advertising and Promotions Regulations: To address concerns about misleading promotions, the CDG has introduced stricter advertising standards for sports betting operators. These include:
- Transparency in Promotions: Operators must clearly communicate the terms and conditions of any bonuses or promotional offers, ensuring bettors understand the requirements for claiming and withdrawing bonus funds.
- Responsible Gambling Messaging: Advertising materials must include responsible gambling messages and links to resources, reinforcing Colorado's commitment to safe betting practices.
- Expansion of Retail Betting: Several new retail sportsbooks have opened in Colorado, expanding the state's land-based sports betting options. This includes new venues partnering with licensed casinos, such as SuperBook at The Lodge Casino and Elite Sportsbook at Red Dolly Casino.
- Responsible Gambling Initiatives: In line with the state's commitment to responsible gambling, 2024 has seen increased funding for programs aimed at preventing gambling addiction. The CDG has allocated additional resources to support initiatives such as:
- Hotlines and Support Groups: Expanded availability of helplines and support services for individuals experiencing gambling-related issues.
- Public Awareness Campaigns: Initiatives to raise awareness about responsible gambling practices and available resources for bettors.
Legal Framework for Sports Betting in Colorado
The legal framework for sports betting in Colorado was established through a combination of legislative action and regulatory oversight:
- Proposition DD: In November 2019, Proposition DD was passed by Colorado voters, legalizing sports betting in the state. The passage of Proposition DD also led to the Colorado General Assembly enacting HB19-1327, further defining the state's legal framework for sports betting.
- Regulatory Oversight: The Colorado Limited Gaming Control Commission (CLGCC) and the CDG are tasked with overseeing the state's sports betting industry.
- Operating Fees: On April 16, 2020, the CLGCC approved the following fees:
- Internet Sports Betting Operator Licensee or Master Licensee conducting internet sports betting: $54,000
- Sports Betting Operator Licensee or Master Licensee conducting retail sports betting: $12,500
- Stakeholder Engagement: The CDG has engaged with industry stakeholders and reviewed best practices from other states, incorporating this knowledge into Colorado's regulatory framework. This has led to the implementation of comprehensive rules and regulations that balance industry growth with responsible gambling practices.
- Regulatory Resources: For those interested in Colorado's sports betting regulations, the CDG provides the following resources:
- Sports Betting License Fees Analysis: A detailed analysis of licensing fees for sports betting operators.
- Colorado General Assembly HB19-1327: The legislative bill that established Colorado's sports betting framework.
- Sports Betting Rules: A comprehensive set of rules and regulations governing the sports betting industry in Colorado.
- Combined Sports Betting Rules and Regulations: Updated rules effective August 10, 2022, consolidating and clarifying Colorado's sports betting regulations.
Additionally, the CDG has conducted stakeholder working groups to draft and revise rules, covering topics such as compliance, technology, integrity, information, and responsible gambling
Colorado's Online and Mobile Sportsbooks
Colorado has a variety of online and mobile sportsbooks, which offer a comprehensive range of betting options:
Online Sportsbook | Mobile App | Odds Provider | Retail Partner |
---|---|---|---|
Bally Bet | Yes | Kambi | Bally's Black Hawk |
Bet365 | Yes | bet365 | Century Casino Cripple Creek |
Betfred Sports | Yes | OpenBet | Saratoga Casino Black Hawk |
BetMGM | Yes | BetMGM | Midnight Rose Casino |
BetMonarch | Yes | Stadium | Monarch Casino |
BetRivers | Yes | Kambi | McGills Hotel and Casino |
Betsafe | Yes | Betsson | Dostal Alley Casino |
Betway | Yes | Betway | Famous Bonanza Casino |
Caesars | Yes | Caesars | Lady Luck Casino |
Circa Sports | Yes | Circa | Century Casinos |
ClutchBet | Yes | BlueBet | Wild Card Saloon Casino |
DraftKings | Yes | SBTech | Bally's Black Hawk |
ESPN BET | Yes | PENN | N/A |
Fanatics Sportsbook | Yes | Amelco | Double Eagle Casino |
FanDuel | Yes | Flutter | Bally's Black Hawk |
SBK | Yes | Smarkets | Bronco Billy's Casino |
Sporttrade | Yes | Sporttrade | TBD |
SuperBook | Yes | IGT | The Lodge Casino |
Tipico | Yes | Tipico | Century Casinos |
Land-Based Colorado Sportsbooks
In-person sports wagers can be placed at several retail locations in Colorado. Here are some of the options:
Sportsbook | Venue | Address | Phone Number | Odds Provider |
---|---|---|---|---|
BetFred Sportsbook | Saratoga Casino Black Hawk | 101 Main Street, Black Hawk, CO 80422 | (303) 582-6100 | Playtech |
BetMonarch | Monarch Casino Resort Spa | 488 Main St, Black Hawk, CO 80422 | (303) 582-1000 | Stadium |
BetRivers Sportsbook | McGills Hotel and Casino | 232 Bennett Ave, Cripple Creek, CO 80813 | (719) 689-2446 | Kambi |
Bronco Sportsbook | Bronco Billy's Casino | 233 E. Bennett Ave., Cripple Creek, CO 80813 | (719) 689-2142 | Kambi |
Caesars Sportsbook | Isle Casino Hotel Black Hawk | 401 Main St, Black Hawk, CO 80422 | (800) 843-4753 | Caesars |
Caesars Sportsbook | Lady Luck Casino | 340 Main St, Black Hawk, CO 80422 | (303) 998-7777 | Caesars |
DraftKings Sportsbook | Bally's Black Hawk | 300 Main Street, Black Hawk, CO 80422 | (303) 582-5600 | SBTech |
Elite Sportsbook | Red Dolly Casino | 530 Gregory Street, Black Hawk, CO 80422 | (303) 582-1100 | Bet.Works |
SuperBook | Lodge Casino | 240 Main Street, Black Hawk, CO 80422 | (303) 582-1771 | Stadium |
Woody's Sportsbook | Wildwood Casino | 119 Carbonate Street, Cripple Creek, CO 80813 | (719) 244-9700 | ISI |
These retail sportsbooks, along with Colorado's online sportsbooks, contribute to the state's vibrant and dynamic sports betting market. The industry is evolving rapidly, offering diverse betting opportunities to Colorado sports bettors.
References
Sol has over 20 years of experience in writing for diverse industries including sports, gambling, regulation, technology, and startups. As the Editor-in-Chief at RG.org, Sol brings a wealth of knowledge and expertise to the role, focusing on delivering transparent, evidence-based content grounded in thorough research. Sol's mission is to empower readers to enjoy gambling responsibly and make informed decisions, enhancing their overall experience through insightful and engaging content. Under Sol's leadership, RG.org prioritizes the highest standards of integrity and reliability, ensuring that all information provided is accurate and trustworthy. Sol's dedication to transparency and research-based writing helps create a responsible gambling environment where readers can truly benefit from the content. This commitment to excellence has positioned RG.org as a leading source of information in the gambling industry.
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