- Colorado set a new sports betting tax revenue record ($37 million) for the Colorado Water Plan.
- Proposition JJ helped create this record by lifting the $29 million cap on retainable revenue.
DENVER, Colo. – Colorado’s sports betting revenue hit record-breaking numbers this past fiscal year, at $37 million.
This surge in tax revenue has resulted in an increased fund for water conservation across the state, thanks to changes approved by voters in 2024. For revenue from Colorado sports betting, it first goes to regulatory costs, with the remainder being directed into the Water Plan Implementation Cash Fund.
At first, a $29 million cap on sports betting tax was approved, but changed laws allow the state to keep revenue above the $29 million cap.
Lawmakers recently pushed to have taxes on free bets as well, as an additional method to generate legal sports betting revenue for the state.
The Colorado Water Plan is operated by the Colorado Water Conservation Board and handles water supplies during emergencies, including drought and global warming.
