Colorado will allow sports gambling as of May 1, 2020, if voters approve a gambling tax that could bring in as much as $6.5 million in new revenue for water resources in the state.
Gov. Jared Polis (D) signed a bill (H.B. 1327) May 29 decriminalizing sports betting and asking voters to approve a 10% tax on net sports betting proceeds. Colorado’s Taxpayer Bill of Rights, a 1992 constitutional amendment, requires voter approval for all tax hikes.
- The referendum (Proposition DD) will be on the November ballot.
- The tax would generate from $6.3 million to $6.5 million ...