Launching sports betting in Colorado was a complex undertaking thanks to a restrictive Taxpayer Bill of Rights (TABOR) that required any new law that raises taxes to go before the electorate. And while state voters did approve casino gaming in 1991, this was limited to three small towns. But when the when the Supreme Court ruled that the Professional and Amateur Sports Protection Act of 1992 (PASPA) was unconstitutional, the state’s lawmakers decided to push the sports betting envelope.
In the November election of 2019, the state’s voters passed a ballot measure legalizing sports betting through Michigan’s licensed casinos with the Colorado Division of Gaming acting as the regulatory authority. The industry then launched on May 1st 2020 with both retail and mobile sportsbooks opening for business on the same day.
The industry has since grown to become a high revenue market with the state’s sportsbooks regularly compete with more established states such as Nevada and New Jersey in terms of handle.
Image credit: Santeri Viinamäki / CC BY-SA 4.0