Colorado sports betting could become a reality as soon as next May, if a recently introduced bill on the matter gains traction in the state Legislature and voters approve the legalization of sports gambling in the upcoming November vote.
Democratic House Majority Leader Alec Garnett and Republican Minority Leader Patrick Neville introduced the bill late on Thursday. The piece of legislation, if passed, would place a sports betting question on the November ballot.
State residents would be asked whether a 10% flat tax on net proceeds from regulated sports gambling should be implemented. The ballot question will be concerned with the taxation of betting services because, under state law, any tax increase must be approved by Colorado voters.
The state’s existing casinos will be able to apply for licenses to operate sports betting online and via mobile apps. The gambling venues will also be allowed to provide limited in-person betting services.
Read more about Colorado sports betting at Casino News Daily.