Licenses Awarded For Colorado Sports Betting As State Prepares For May 1 Launch
The rollout of Colorado sports betting appears to be just over 60 days away if the state’s Division of Gaming can meet a targeted May 1 start date. Whenever the first wager is accepted, it will mark the culmination of a journey that began in earnest last summer. That’s when the CO Legislature approved a sports betting bill. That initial step was followed by a mandated voter referendum in November, which officially legalized sports betting in the state. Centennial State residents resoundingly voted in favor of welcoming a regulated sports betting industry into their jurisdiction. With the measure passing by approximately 20,000 votes, the state’s Division of Gaming has subsequently begun formulating the framework under which the industry will operate within Colorado.
The basics of Colorado sports betting regulationsSome of the pertinent details of CO sports betting regulations are as follows:
- Both retail and online sports betting ARE authorized.
- Only those geolocated within the physical boundaries of the state allowed to place bets online.
- 10% tax rate on operators.
- Wagering on high school sports and esports banned.
- Must be 21 years or older to bet.
- Division of Gaming oversees all sports betting operations/regulations within the state.
- Three types of licenses are available: Master licenses, operator licenses and internet licenses.
First licensees setOn Thursday, the Division of Gaming approved the first seven master licenses in the state. Those were awarded to the following casinos (the type of gaming business eligible to apply for that designation):
- Brass Ass Casino, Cripple Creek
- Dostal Alley, Central City
- Double Eagle, Cripple Creek
- JP McGills, Cripple Creek
- Midnight Rose, Cripple Creek
- Monarch Casino, Black Hawk
- Saratoga Casino, Black Hawk
- Double Eagle sportsbook partner: PointsBet
- Saratoga Casino sportsbook partner: Betfred
- Century Casino sportsbook partner: Circa
- Full House Resorts sportsbook partners: BetAmerica, Smarkets, Wynn Resorts
- Jacobs Entertainment sportsbook partner: theScore Bet