The Prop DD Tax on Winnings in Colorado
Voters in Colorado will be asked to approve an amendment that would permit mobile sports betting throughout the state, but Proposition DD, as it is referred to, would also contain language pertaining to taxation. The mere mention of taxes might be enough to scare off even those who have no intention of placing bets on sports.
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The tax in question would be 10% but paid by the casinos, not the actual gambler.
According to Bloomberg, recent polls show more voters support sports betting than oppose it, Rep. Alec Garnett (D), sponsor of the bill (H.B. 1327) referring the measure, said Sept. 27. The ballot measure fares even better in polling when its backers clarify the tax will be on casino’s profits, not on individual winnings, he said.
Aside from environmental groups, there is little opposition to the initiative. Little money is being placed on efforts to prevent passage.
- Aaron Goldstein, Gambling911.com
