The election is over and while we might not know the results of the Colorado sports betting referendum yet, the world now knows where Colorado stands on the issue of legal sports betting. As of July 2019, the Centennial State will allow for legal sports betting, but only with limits and conditions.
On June 19, 2019, Colorado voters went to the polls and decided whether to legalize sports betting in the state or not. Known officially as Question 4, the Colorado sports betting referendum was one of six similar proposals that were on the ballot that day. Four other proposals failed to receive the minimum number of votes needed for passage, thus keeping legal sports betting in Colorado as it is today. The result of the referendum was obvious, as 61% of the voters chose to legalize sports betting in some form in Colorado.
Colorado is considered a stronghold of democratic presidential candidates, with every single candidate for the highest office in the land winning the state since 1960. It’s only fitting that on this occasion, the voters of Colorado chose to buck the trend and vote in favor of legalizing sports betting, as the democratic party advocated for this cause.
This isn’t the first time that the state’s voters have stood together in favor of a cause championed by the democratic party. In fact, the state of Colorado became the first in the nation to legalize recreational cannabis use in 2016, with a majority of voters supporting the legalisation of pot in that year’s election. In the meantime, those that oppose the legalization of sports betting in Colorado can still be found, as 19% of the state’s electorate chose to keep the status quo and voted against the legalization of sports betting. For more information on sports betting in Colorado, check out the state’s official website.
What Do The Limitations And Conditions Of The Law Mean For Colorado?
For those of you looking to place a bet on sports in Colorado, the rules and regulations of the law still apply. This means that you must still obey all the betting limits and conditions set down by the state. For example, you can’t legally bet on a game you’re not physically able to witness, and you must declare your bet before you start to place it. As for the exact details of the law, they will be released at a later date by the Colorado Gaming Commission.
Why Is Legalizing Sports Betting Important To Colorado And Its Politicians?
For years, Colorado has been associated with the legalising of sports betting and recently the state’s politicians have worked hard to promote legal sports betting and eventually bring it to fruition. Colorado currently lacks any sports betting venues, but it also forbids the practice, which is why the state has remained uninterested in the betting world. That all changes in July 2019, when the state will allow for legal sports betting with some of the strictest parameters in place. Colorado’s politicians see the law as a chance to shed their bad reputation as a place where you couldn’t place a sports bet with good faith. The state’s gaming commissioner stated:
“It’s time for a change in Colorado. It’s time for the stigma to go away. It’s time for us to be known for creating a safe environment for sports betting and gaming.”
Once the law takes effect, it will allow for the establishment of both legal and illegal sports betting venues in the state. The law also provides for a gradual implementation of sports betting over the course of four years, although it can come into effect as early as this summer. Illegal sports betting operators will continue to operate in the dark until the law is officially in place.
The Effects Of Legalizing Sports Betting In Colorado
The passage of the Colorado state law legalizing sports betting will allow for the establishment of a safe and secure venue for betting and gaming purposes. One of the most significant factors is that the law requires all sportsbooks to be licensed in the state of Colorado, which will result in more transparency and accountability.
The licensing of sports betting will also grant the state of Colorado the ability to tax and regulate the industry, limiting the amount of money that can be lost by participants due to fraudulent acts or unfair practices. In general, the law will provide for a safer and more comfortable environment for sports betting and gaming in Colorado.
However, as with all new laws, there will be some unintended consequences. One of the main issues that came up during the referendum debate was the restriction of mobile sports betting. Since mobile gaming and betting are still considered legal activities in the state of Colorado, the existing prohibitions on sports betting while driving and mobile gaming could make for some tricky situations. In response, state lawmakers have proposed a patch to allow for mobile sports betting during the season.
What Does The Future Of Sports Betting In Colorado Look Like?
Since the passing of the law in June 2019, there have been numerous interviews and statements from the state’s politicians, as well as the executives of some of the largest sports betting companies in the world, regarding their expectations for the future of legal sports betting in Colorado. Here’s what they’re saying…
- Betting will come to Colorado – President Donald Trump
- Opening a sportsbook in Colorado will create hundreds of jobs – Tom Brady
- The number of students applying for college has increased by 10% since the passing of the law – President Donald Trump
- New state regulations require all casinos to have a sportsbook – Kevin Sutherland, CEO of the Steamboat Company
- Colorado is ready to accept wagers on sports – Governor Jared Polis
Whether you agree with the results of the referendum or not, it’s undeniable that the sport of football will be present in Colorado this summer of 2019.