Sports Betting Comes to Colorado

Betting fans in the US state of Colorado will soon be able to bet on their favourite sports, following the approval of sports betting regulations and licences in the state.

 

The state regulator, the Limited Gaming Control Commission, has given the stamp of approval to

seven licences at the same time as confirming the state’s rules on gambling.

 

Seven casinos will be awarded licences to provide sports betting services. These include the Saratoga and Monarch Casinos in Black Hawk, the Dostal Alley Casino in Central City and four casino venues in Cripple Creek. Each licence allows the holder to operate both an online sports betting service and a retail sports betting outlet. All applications must be paid with a $10,000 application fee and successful applicants will have to pay a $125,00 licensing fee.

 

Last month, UK bookmaker Betfred struck a deal through its Betfred USA Sports subsidiary to bookmaker to provide sports betting services for the Saratoga Casino, and the Australian betting company Pointsbet has signed a deal with Double Eagle Casino. Wynn Resorts, theScore, FanDuel and DraftKings have also struck deals with local casino operators in anticipation of the launch of the state’s new sports betting sector.

 

The rules governing sports betting in Colorado were passed, although they were the subject of some amendment. The amendments included the removal of a clause that enabled the Commission to prevent an individual operator from using certain data. In addition, the rules provide for a betting tax of 10% and a sports betting operation fee, to be paid annually.

 

It has been a long wait for Colorado sports betting fans to get to this point. The legalisation of sports wagering was passed and signed by Governor Jared Polis in May, but the proposal also had to be put to voters, who approved it narrowly, by 756,720 votes to 723,665 last November.

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