Colorado’s gaming commission solidified the rules for sports betting licensure Thursday, setting the stage for the first group of applicants to be approved next month as the state moves toward legalized sports gambling this spring.
The Colorado Limited Gaming Control Commission plans to grant up to 33 total licenses for physical and online sportsbooks.
The state has received more than 50 license applications since November, according to Dan Hartman, director of the Department of Revenue’s Gaming Enforcement Division. That includes 28 from existing casinos, 10 from operators looking to run retail sportsbooks and 13 from internet apps. The names of the applicants have not been disclosed.
RELATED: Colorado Prop DD, the sports betting measure, narrowly passes
The first licensees are expected to be approved in February, though they won’t be able to take bets until Colorado’s new sports gambling law goes into effect on May 1.
Colorado Prop DD, the sports betting measure, narrowly passes
Sports betting’s rapid expansion faces more tests in 2020
Voters in November narrowly approved Proposition DD, allowing bets to be placed on the outcome of sporting events at physical and online sportsbooks in Colorado.
Casinos will be taxed 10% on net proceeds, which will primarily be funneled to Colorado’s water plan. The state expects to collect $29 million annually from the new tax.