Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Colorado Voters Legalize Sports Betting, 10% Tax, By Slim Margin

Nov. 6, 2019, 6:29 PM

Colorado voters have voted to legalize sports betting in the Rocky Mountain state in an effort to raise $29 million annually for state water projects.

Voters approved Proposition DD 50.5%-49.5%, based on results early Nov. 6. The vote was too close to call late Nov. 5. The measure will place a 10% tax on net profits from casino sports wagers effective May 1, 2020.

  • Sports betting is currently live in 13 states—Arkansas, Delaware, Indiana, Iowa, Mississippi, Nevada, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, and West Virginia. Betting is legal, but not yet active, in six other ...