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Colorado Legal Sports Gambling

2021年4月17日

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*Online Sports Gambling Legal
*Colorado Legal Sports Gambling
As of May 1, 2020, sports betting is legal in Colorado as long as you place legal bets with a licensed sports betting operator within the borders of Colorado. Sports betting is only legal if you’re betting at a sportsbook licensed and authorized by the state of Colorado. Offshore sportsbooks are not legal in Colorado. There’s currently a proposed constitutional amendment and a pending voter referendum that could make sports gambling legal in the near future. Sports betting is now officially live in Colorado with online Sportsbooks and mobile betting apps set and ready to accepts bets across the state. It has officially been live since May 1. The passing of the law now gives players the chance to place real money wagers on their favorite sports. Colorado became the 19th state to legalize sports betting, but it might have the best situation of any newly-legal state.CO has full online sports betting on sites and apps, plus a low barrier to entry for operators, which is creating healthy operator competition that will benefit consumers. So when does CO sports betting start? While voters gave the OK for casinos to offer legal wagering, some waiting still remains. Colorado already has its gaming division to regulate sports betting, but a regulatory framework still needs to be crafted. Casinos and internet operators still need to apply for licensing and get vetted.Background
The gaming tax was first levied in 1991 when casino gambling became legal in the municipalities of Black Hawk, Central City, and Cripple Creek.1 The gaming tax is levied on casinos’ adjusted gross proceeds, defined as the amount of money collected from gamblers minus the amount paid to gamblers in winnings. For each month of operation, casinos remit gaming taxes to the Division of Gaming within the Department of Revenue by the 15th day of the following month. Casinos on the Ute Mountain Ute and Southern Ute Indian Reservations are not subject to the state gaming tax.
Most gaming tax revenue is subject to the TABOR limit on state revenue and spending. In 2009, Colorado voters approved Amendment 50, which allows additional casino games, higher bet limits, and longer hours of operation. In 2020, Colorado voters approved Amendment 77, which allowed the three local gaming cities to approve new casino bet limits and games. During the same election, the three cities approved local measures to eliminate casino bet limits and give their respective city councils the authority to approve new casino games. Gaming tax revenue attributed to Amendment 50 and Amendment 77 is not subject to the TABOR limit.Tax Rate
Tax rates are set by the Colorado Limited Gaming Control Commission, a five-member regulatory body appointed by the Governor. The commission reviews tax rates annually and may raise or lower rates so long as they do not exceed 40 percent. Beginning July 1, 2012, adjusted gross proceeds are taxed at accelerating rates following the stepwise schedule shown below. For example, a casino must pay a 0.25 percent tax on its first $2 million in adjusted gross proceeds, and a 2 percent tax on its next $3 million. Casinos’ adjusted gross proceeds reset to zero on July 1, the first day of the state fiscal year.Casino Adjusted Gross ProceedsUp to $2,000,000$2,000,001 to $5,000,000$5,000,001 to $8,000,000$8,000,001 to $10,000,000$10,000,001 to $13,000,000$13,000,001 and overTax Exemptions
Casinos operating on the Ute Mountain Ute and Southern Ute Indian Reservations in Archuleta, La Plata, and Montezuma counties are exempt from the gaming tax.Online Sports Gambling LegalDistribution
The gaming tax revenue distribution is shown below. After administrative expenses are paid, gaming tax revenue subject to TABOR is deposited in the Limited Gaming Fund, and TABOR-exempt revenue attributable to Amendment 50 is credited to the Extended Limited Gaming Fund. The Colorado Constitution requires that 12 percent of limited gaming revenue be distributed to gaming counties, 10 percent to gaming cities, and 28 percent to the State Historical Fund for preservation of historical sites in gaming cities and statewide.2 The remaining half of the Limited Gaming Fund is allocated to state programs at the discretion of the General Assembly.3House Bill 20-1399 modified the transfers made from the Limited Gaming Fund to Cash Funds during FY 2019-20 and FY 2020-21, which are reflected in the Gaming Revenue Distribution chart below.
The Colorado Constitution requires that Amendment 50 and Amendment 77 revenue credited to the Extended Limited Gaming Fund be distributed as follows:
*78 percent for financial aid and classroom instruction at Colorado community, junior, and district colleges based on each school’s enrollment;
*12 percent to Gilpin and Teller Counties, based on the proportion of Amendment 50 revenue raised within each county, to help address the impacts of gaming; and
*10 percent to Central City, Black Hawk, and Cripple Creek, based on the proportion of the Amendment 50 revenue raised within each town, to help address the impacts of gaming.4State Comparisons
Including Colorado, 26 states allow gaming at casinos, 29 states host casinos on Indian reservations, 23 states allow sports betting, and 41 states allow pari-mutuel wagering, which Colorado taxes separately from its casinos.Sports betting
Sports betting was legalized in Colorado after the passage of House Bill 19-1327 and voter approval of Proposition DD during the November 2019 Election5. Sports betting became legal in May 2020, both onsite at casinos in Colorado’s three gaming towns and online through casinos.
Sports betting is taxed at a rate of 10 percent on casinos’ net sports betting proceeds, and the tax revenue will not be subject to TABOR as voter-approved state revenue. Sports betting revenue will be distributed to pay for the following in the order listed below:
*all administrative costs incurred by the Department of Revenue’s Division of Gaming first;
*6 percent to a hold harmless fund to reimburse recipients of current casino gaming tax revenue for any potential loss in revenue due to the legalization of sports betting;
*$130,000 for counseling services and a gambling crisis hotline in the Office of Behavioral Health in the Department of Human Services for gambling addiction problems; and
*the remaining amount to the Water Plan Implementation Cash Fund to fund water projects under the state Water Plan.
____________________1Colo. Const. article XVIII, § 9 and Section 44-30-601, C.R.S.2Colo. Const. article XVIII, § 9 (5)(b)(II) and (III).3Section 44-30-701 (2), C.R.S.5144-30-1501, C.R.S.Colorado Online Tax Handbook HomePublic referendum unwanted
The Colorado legislature has traditionally been fairly open to expanding its current gambling laws to adapt with the times. Since the federal ban on sports betting ended in May 2018, most states, including Colorado, have considered legalizing sports betting.
The main issue for the sports betting bills that have been put forth is their legal implementation.
As per the criminal code of Colorado, sports betting is illegal. It is not in the state constitution, and a public referendum would be required to change it.
The parties that want to expand the gambling laws naturally do not want proposals going to a public vote. And, traditionally, the people of Colorado have been resistant to gambling expansion. So some lawmakers have been looking into potential ways in which to push through a sports betting bill without needing a public referendum. The draft bill’s details
Officials in Colorado have been discussing the idea of legal sports betting for almost one year. A preliminary sports betting bill is now in place. The bill’s sponsors are allowing the casino operators to have a look at the draft and provide feedback.
This bill would legalize both retail and online sports betting. However, there is a tight deadline in place if this bill is to go through. It has not yet been introduced and the legislative session for 2019 ends on May 3.
The draft bill proposes three types of licenses: a master license, a license for sports betting operators, and an online sports betting operator license.
Each of the 33 casinos in operation in Colorado would be able to apply for the master license. This could see them become partners with a single online operator and a single retail operator.
The tax rate would be 10%, which is very reasonable. There is no mention of integrity fees for the major sports leagues. Betting on both college and professional events would be permitted, but not on high school or esports events. Super-majority required
It seems like the mobile betting aspect of this bill is integral. The House majority leader Representative Alec Garnett is the presumptive sponsor. Speaking about the importance of the mobile aspect of the bill, he said: “Nobody does this in person any more. This is all done on your phone.”
Colorado’s lawmakers are examining what has been working in other states with open sportsbooks. New Jersey is the main success to date. It regularly hits new record monthly revenues, with more than 80% of sports bets in the state coming from mobile sportsbooks.
There will need to be a super-majority from the legislature for this bill, as well as a public referendum, for it to become law. If all that happens, sportsbooks could be open in Colorado by February 1, 2020.Gambling in Colorado
Colorado has an interesting history when it comes to their gambling scene. During the 19th century, as the West opened up the state was a popular stopping point for immigrants.
This brought a wide variety of different games to the state. The very first casino in the US was in Colorado. The Brown Saloon opened its doors in 1822. It was ideally located as it was on the border Colorado shares with Wyoming and Utah.
In 1991, commercial casino gambling became legal in the historic towns of Central City, Cripple Creek and Black Hawk. There was no state lottery in operation until 1993. Colorado Legal Sports Gambling
Commercial casinos originally had many different restrictions. The regulations have been eased as of late, such as the maximum allowable bet rising from $5 to $100. The previous curfew of 2am is also now gone. A casino can open all day if it wishes to do so.
There are also a number of tribal gambling facilities open in Colorado, as per the state compacts from 1995.
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