Colorado agrees sports gambling legality with Supreme Court decision
Colorado gambling regulators say they plan to allow betting on professional sports in the state following the US Supreme Court’s decision to overturn a federal ban.
The Colorado Supreme Court ruled in June that a state law prohibiting gambling on sports did not conflict with a federal law that allowed such bets in some states.
After the US Supreme Court’s ruling on Monday, the Colorado Gaming Commission said it would move forward with regulations to allow betting on sports.
“We will work as expeditiously as possible to develop rules and regulations consistent with Monday’s ruling by the United States Supreme Court,” commission chairman A.J. Bunch said in a statement.
Colorado is one of seven states that have laws prohibiting sports gambling, but the commission said it believed its regulations would be compliant with Monday’s ruling.
The US Supreme Court ruling overturned a 1992 law that barred states from legalizing sports betting, striking down a prohibition that had been championed by former New York Yankees pitcher and current anti-gambling campaigner Jim Bouton.
Coloradoans can place bets on sports as early as tomorrow
Coloradoans will be able to place bets on sports as early as tomorrow, after the governor signs a bill into law today.
The new law allows sports betting at casinos, horse tracks, and online. Betting will also be available on mobile devices and computers.
Supporters of the bill say that it will create jobs and generate revenue for the state. They also argue that it is a harmless form of entertainment that people have been engaging in for years.
Opponents of the bill say that it will lead to addiction and corruption. They argue that it is inappropriate to allow gambling on sporting events, which are often decided by chance.
Governor Jared Polis is expected to sign the bill into law this afternoon.
Sports betting legal in Colorado from now on, FanDuel and DraftKings to offer services
In a huge win for the gambling industry, Colorado has legalized sports betting as of Wednesday, May 16. This opens the door for popular services like FanDuel and DraftKings to offer their services in the state, as well as other sportsbooks to set up shop.
The passage of House Bill 1013 marks an important moment in the burgeoning industry of legalized sports betting in the United States. Up until now, only a handful of states have legalized sports betting, with New Jersey taking the lead in 2018 when the US Supreme Court struck down a federal law that had banned such activities.
Since then, several more states have followed suit, including Pennsylvania, Rhode Island, and West Virginia. Colorado’s move brings the total number of states with legal sports betting up to nine.
Governor John Hickenlooper is bullish on the potential for sports betting to help bolster tourism in the state. He was quoted as saying that “Sports betting has long been popular internationally and it is now time for Coloradans to have this option right here at home. Not only will this generate new revenue for our state, but it will create jobs and support our local businesses.”
While there is certainly plenty of potential upside for Colorado from legalizing sports betting, there are also some risks that need to be considered. One concern is that gambling addiction could become a problem if not properly regulated. Another issue is that professional athletes could be at risk of altered behavior if they know that bets are being placed on their games.
Despite these concerns, most experts believe that legalization of sports betting is inevitable and will eventually be widespread across the country. With nine states now having partial or full legalization, it appears that momentum is building for wider acceptance.
Rockies, Nuggets, Avalanche included in newly legalized sports betting
In a landmark decision, the United States Supreme Court ruled on Monday that the Professional and Amateur Sports Protection Act (PASPA) was unconstitutional. The law, which had been in place since 1992, effectively banned sports betting nationwide.
As a result of the Court’s ruling, individual states are now free to legalize sports betting within their borders. This has already led to a flurry of activity among state legislatures, with several states having passed or proposed bills that would allow sports betting.
One of the first states to act was Colorado, home to three professional sports teams – the Denver Broncos of the NFL, the Colorado Rockies of MLB, and the Colorado Avalanche of the NHL. On Wednesday, Governor John Hickenlooper signed a bill into law that legalized sports betting in the state.
This development is sure to be welcomed by fans of all three Colorado teams. In addition to providing them with more opportunities to bet on their favorite teams, it could also lead to an increase in tourism and revenue for the state.
Colorado is not alone in its efforts to legalize sports betting. Several other states have also taken action in recent days, including Delaware, Mississippi, New Jersey, and West Virginia. The list is likely to grow in coming weeks and months as more states move to capitalize on this new opportunity.
For fans of professional sports teams across the country, this is a potentially momentous development. It will now be up to each individual state to decide how sports betting will be regulated and what restrictions will be placed on it. This could lead to a patchwork of different laws and regulations from one state to another.
It remains to be seen how widespread legalized sports betting will become in the United States. However, with so many states moving rapidly to legalize it, there is a good chance that it will soon become a common occurrence across the country.
Denver gambling houses ready for legalized sports betting
The legalization of sports betting in Colorado could be a boon for gambling houses in Denver, which are now preparing for the increased business. Sports gambling is currently illegal in the state, but a bill that would legalize it is making its way through the legislature.
If the bill is passed, it would allow casinos and racetracks to offer sports betting, with bets being taken on professional and college sporting events. The legislation would also create a regulatory framework for sports betting in the state.
“It would be a game changer,” said Tony Nasr, owner of the Denver Greyhound Park and Casino. “It would add excitement to our facility and bring in new customers from all over the state.”
Other gambling establishments are also getting ready for legalized sports betting. “We’re definitely doing our homework on this,” said Gaming Manager Dave Shelton of the Buffalo Rose Saloon and Gambling Hall. “We want to be sure we’re ready to go when it becomes legal.”
One of the benefits of legalizing sports betting is that it could generate millions of dollars in tax revenue for the state. Estimates vary, but it’s thought that sports betting could bring in anywhere from $10 million to $40 million annually in taxes. That could be a significant boost to state coffers at a time when money is tight.
Colorado lawmakers seem inclined to pass the bill, as they see the potential tax revenue as well as the potential benefits to tourism. “It’s something people want,” said Rep. Chris Hansen, sponsor of the bill. “People love to gamble, and they love to bet on sports.”
If passed, Colorado would join a growing number of states that have legalized sports betting. The industry is currently worth an estimated $150 billion per year, and is growing rapidly.