Colorado to Have Sports Betting Question on November Ballot
DENVER (AP) — Colorado's Legislature has approved a ballot question asking voters if sports gambling should be legalized.
The Senate voted 27-8 on Friday to send the bipartisan bill to Gov. Jared Polis.
If voters approve, a constrained Colorado sports betting market could be operating by 2020. State tax revenue initially would be an estimated $10 million.
Voters would be asked whether to apply a 10% flat tax on net sports betting proceeds. If approved, businesses can apply for licenses. The question comes in the form of a tax hike request because any Colorado tax increase, by law, must be approved by voters.
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Companies operating 33 casinos in Colorado could seek licenses that would include online and sports gambling apps and limited onsite betting.
Tax revenue would go to a state water conservation plan and gambling addiction programs.
Friday is the last day of the 2019 legislative session.
