Colorado Gambling Commission Sets Stage For Licences

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Colorado’s gaming commission solidified the sports betting licencing rules Thursday, setting the stage for the first group of applicants to be accepted next month as the state moves toward legalised sports gambling this spring.

The Colorado Limited Gaming Control Commission is expected to issue up to 33 combined Physical and Online Sportsbook licences. According to Dan Hartman, director of the Department of Revenue’s Gaming Compliance Division, as reported by The Denver Post, the state has issued more than 50 licence applications since November. This includes 28 of existing casinos, 10 of retail sportsbook operators and 13 of internet applications. The appellants ‘ identities were not disclosed.

The first licensees are scheduled to be licenced in February, although they will not be able to make bets until the new sports gambling law in Colorado comes into force on May 1.

Voters narrowly approved Proposition DD in November, allowing bets to be placed on the outcome of sporting events in Colorado’s physical and online sportsbooks. Casinos will be taxed on net income by 10 per cent, which will be primarily funnelled to the water plan of Colorado. The state expects the new tax to raise $29 million per annum.

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