Being a US state Colorado resident, it was impossible to dream about betting on sports from the federal level. Sports betting was prohibited since 1992. However, a swift breeze with the fragrance of winning stakes comes for churning sport betting souls of the Colorado populace when the US Supreme Court called the 1992’s sports betting law unconstitutional. That created a flood among US states, all preparing for legalizing sports betting within their territory. Currently, 19 US states and territories are serving bettors with legitimized sports betting options, and the name of Colorado, being one of the most current inclusions, is among them. In November 2019, a bill allowed Colorado sports bettors to wager on sports starting from May 2020. 50.8% of votes legalized sports betting within Colorado with the counting of over 1.4 million ballot boxes. May 1, 2020, is now another history page, and sports betting options are enjoyed by every Colorado sports betting fans.
Legalized operators gained the license for catering to Colorado players with sports betting offerings are already accepting players. However, the state comprises only seven regulated casinos, including Central City, Cripple Creek, and Black Hawk. The Colorado Limited Gaming Control division permits the additional licenses these casinos possess. It’s noteworthy that some rules and regulations players have to adhere to while wagering in sports from Colorado; one of them is the eligible age limit of 21 years.
The betting options also encompass plenty of professional sports, including teams, individuals, international, and even Olympic events. Besides, college-level sports events, motorsports, and authorized video games are also considered permissible wagering options. The mode of wagering money or betting formats are also available in plenty. Players can choose to back up teams, wagering by their win or loss intuitions. However, Colorado players are currently more into prop bets, especially those who love wagering digitally. Many more bet options are available along with extremely lucrative odds if sportsbooks are chosen wisely. Hence, OLBG’s official website comes into the scene for finding out the best sports betting sites for our friends in Colorado.
Online and offline both sort of sports betting is now available in Colorado lands. However, it should be obtained only from the legalized and regulated service providers from within the state. Thus, online offshore casinos are also restricted to be accessed by the players. Players willing to wager through their mobile phones or computers can download different web-based or mobile phone applications, collaborating with the regulated Colorado casinos. The graph of sports betting’s popularity is rising in Colorado. It can be easily recognized as in November 2020, and the state gained 18.35 million dollars as sports betting revenue. More promising than the previous month when it witnessed 177.4 million dollars from sports betting.
Besides, being a sports bettor in Colorado, you can have your winning stakes without giving any tax amount to the government. Meaning, the money you will get after a successful bet will go entirely into your pocket as sheer profit. However, Proposition DD has the provision of taxes casinos need to provide. 10% tax needs to be given by the casinos generating annual revenue between $16 and $29 million. Collected taxes go for helping different state segments, including Colorado’s water projects and obligations. And, the tax money is used in offering $130,000 to the gambling addiction services annually.
Choosing to wager through one of Colorado’s legitimate sports betting sites brings excellent benefits to the bettors. First off, they can wager their money through state-regulated sites. Hence, any chances of deceptions aren’t there. Besides, they are sure to have the best odds on betting options while wagering through sturdy security measures and other services. The official website of Colorado’s Department of Revenue is very descriptive about all the rules and regulations oriented to sports betting in Colorado.
The sheer excitement of Colorado sports bettors can be witnessed in the rising revenue of Colorado sports betting. Therefore, it shouldn’t be faulty to state that Colorado’s sports betting scene is on the verge of success. In the future, many more sportsbooks would be coming under the regulations of the Colorado Division of Gaming, making the scene more prosperous for Colorado betting enthusiasts.