- Colorado sports betting was legalized thanks to a voter referendum.
- Many stakeholders will meet to discuss the upcoming rules and regulations.
- Colorado sports betting will not start until May at the earliest.
DENVER – Colorado sports betting stakeholders will meet on December 9 to December 11 to discuss rules and regulations for the state.
Who Is Heading To The Summit?
There are many different stakeholders who have a vested interest in Colorado sports betting. Lawyers, sportsbook suppliers, sportsbook operators, casinos, and sports leagues will all be in attendance. Groups such as FanDuel, the NBA, Twin River Casinos, IGT, and the Colorado Rockies will be present.
Throughout each day, a list of speakers will be giving presentations on various topics. Rules, compliance, technology, integrity, and responsible gaming will all be discussed.
These meetings will help determine what the rules and regulations for legal sports betting in Colorado should look like. The newly formed Limited Gaming Control Commission will be at the meetings taking notes on what stakeholders have to say. From there, the commission will form the regulations for sports betting in the state.
The Future Of Colorado Sports Betting
Although not all the regulations have been laid out, we do have an idea of what sports betting in the state will look like. The state will take a 10% tax rate on sports betting revenue. This will allow sportsbooks to make a healthy profit while Colorado can use the money to fund state projects.
Mobile sports betting will be prominent in Colorado as well. There are more than 30 state-licensed casinos in the state right now. Each one of them is allowed to have one mobile sports betting license. They are allowed to work with any sportsbook operator.
It will take some time before sportsbooks in Colorado can open. Even if the commissions created all the rules the day after the summit takes place, sportsbooks cannot open yet. Colorado sportsbooks cannot legally open until May of 2020. But that date could be pushed further back if the commission cannot agree on regulations.
Daniel is a writer that enjoys writing to inform readers. When Daniel was writing for The Borgen Project, he liked informing the world about victories in global poverty issues. Daniel is also an avid horse racing fan who has been going to the track with his father for over a decade betting the ponies. When he is not writing about sports betting or at the track, Daniel loves playing video games and watching sports in his spare time.