Signed by Governor Jared Polis

Vote Smart's Synopsis:

Vote to pass a bill that authorizes sports betting in the state.

Highlights:

• 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). 

Full Bill Text