Home » Colorado Votes for Digital Sports Wagering
Business

Colorado Votes for Digital Sports Wagering

Colorado Voters have finally voted in favor of legalizing the sports wagering in the state. During the Proposition DD, a ballot referendum, 50.7% of people voted ‘Yes’. With the majority agreeing for the sports wagering in the bricks and motor casinos and throughout the state through online or mobile sportsbooks, Colorado joins many other states that have allowed sports betting.

The close ballot approval came after 24 hours. It was only on Wednesday afternoon when it became clear that the majority has voted for yes. The ‘yes’ votes were only 20k more in 1.4m voters. It is understood that urban people have voted for ‘Yes’ more than the rural population. People were in dark till the last moment.

Colorado needs a ballot referendum from people for the tax imposition. State legislators have already approved the sports betting in the spring. The questions or the framing of the questions raised a few eyebrows as well. One question looked confusion which asked whether the tax can be raised by $29m so that it can be used for state water projects. Many believe that such a question makes the voter confused and the result was influenced by such questions. However, fate has been sealed through the ballot for the sports betting.

Alec Garnett, the sponsor of the Prop DD and the leader of Colorado’s House Majority welcomed the mandate of the majority of the people. While interacting with the local media, he insisted there is a base of people who would just go against any tax rise. He hilariously reacted to the negative comments of the partial results and said that some people would vote against the tax rise whether it is for Casino or Puppies.

Now, what next for Colorado? All the 17 casino operators of the state now have to sign up with their land-based and digital betting technology partners. The platform of the betting technology partners also needs to be approved by the Colorado Division of Gaming. Now, as per the betting rules of Colorado, the sports betting can start by May 1, 2020. However, if everything is ready and approved by the Colorado Division of Gaming, then only it can start. It needs to be seen how the operators make progress in partnering with the technology providers.

The Colorado Government has clarified that the operators need to pay 10% of tax on the betting revenue. The authorities, however, have said that the in-person registration for the betting account is not required as of now.

In the United States, 19 states have now authorized legal betting in some or the other form. 13 states have active wagering and out of these only 8 states have permission for state-wide digital betting and Colorado would become the ninth one. Oregon became the eighth state to have digital betting last month when it launched the Scoreboard Mobile Betting app of Oregon’s Lottery.

Source: https://calvinayre.com/2019/11/07/business/colorado-approves-sports-betting-may-2020/

About the author

Debopom Sanyal

Debopom Sanyal

Debopom is a web journalist and news enthusiast. He has been writing about world politics, science, health, finance, and technology. An avid sports enthusiast, Debopom has done his Masters in Finance and Bachelors in Engineering.

Add Comment

Click here to post a comment

The following GDPR rules must be read and accepted:
This form collects your name, email and content so that we can keep track of the comments placed on the website. For more info check our privacy policy where you will get more info on where, how and why we store your data.