2020_2_evoplay.jpg
2020_2_evoplay.jpg
2020_2_evoplay.jpg
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine
GGA 2020 AffiliateCon
NEWS 8 October 2019

Colorado residents to vote on sports betting measure

By Matthew Enderby

Voters in Colorado will decide next month on whether to legalise sports betting and subject it to taxation.

Proposition DD would legalise and regulate online and land-based sports betting in the Centennial State.

If approved, the measure would impose a 10% tax on operators’ net sports betting revenue.

Recent polls indicate voter support for the sports betting proposition, according to Representative Alec Garnett, the bill’s sponsor.

Voters will also decide on Proposition CC, which would allow the state to spend money it would normally be required to return to taxpayers, under the state’s unique tax-and-spending limitation amendment.

Research carried out by the Legislative Council of the Colorado General Assembly predicts that, if the sports betting measure is approved, the vertical will raise about $16m in annual tax revenue in the first five years.

Around $14.9m of that will fund projects in the state, including initiatives under the Colorado Water Plan.

The rest of the money will fund gambling addiction services and reimburse entities that receive tax revenue from traditional gambling and horseracing, should sports betting lower their revenue.

RELATED TAGS: Online | Land-Based | Industry | Sports Betting | Legal & Regulatory
DISCUSS THIS ARTICLE
2020_01_gibtelecom.gif
GI FRIDAY: WEEKLY NEWSLETTER
THE GI HUDDLE PODCAST
NEW! #006 - LISTEN NOW
Gaming Industry Conferences (22:37)
#005 - LISTEN NOW
The role of gambling media (27:11)
#004 - LISTEN NOW
What is the role of a Gambling regulator? (29:09)
#003
The Future of Gambling Sponsorship in Sport (30:50)
ANALYSIS
MUST READ
IN-DEPTH 13 January 2020
My first ICE London
READ MORE

PREMIUM CONNECTIONS