Title: Authorizes Sports Betting
Signed by Governor Jared Polis
Title: Authorizes Sports Betting
Vote to pass a bill that authorizes sports betting in the state.
Specifies that all sports betting authorized by this article is subject to regulation by the Limited Gaming Control Commission (Sec. 3).
Specifies that sports betting is not authorized unless Colorado voters approve the ballot question at the November 2019 statewide election (Sec. 5).
Prohibits members of the Commission from participating in sports betting (Sec. 9).
Establishes a sports betting fund that will initially derive funds from the limited gaming fund (Sec. 12).
Reappropriates funds from the limited gaming fund to operations concerned with sports betting (Sec. 10).
Prohibits individuals involved in any way in the sports, from participating in sports betting (Sec. 12).
Requires the Commission to issue, deny, suspend, revoke, and renew sports betting licenses (Sec. 12).
Requires corporate applicants for a sports betting license to disclose the identity of each board-appointed officer, the director, and shareholders (Sec. 12).
Requires the Commission to issue the following classifications of sports betting licenses: (Sec. 12)
Master License;
Sports Betting Operator; and
Internet Sports Betting Operator.
Specifies that a person must be at least 21 years old to place a bet (Sec. 12).
Establishes a sports betting tax comprised of 10% of net sports betting proceeds (Sec. 12).
Title: Authorizes Sports Betting
Title: Authorizes Sports Betting