Bloomberg Tax
May 1, 2020, 8:46 AM

Virus Deals Colorado Sports Betting a Weak Opening Hand

Tripp Baltz
Tripp Baltz
Staff Correspondent

Betting on the NFL, the NBA, Major League Baseball, the NHL and other sports is scheduled to become legal Friday in Colorado, and with it a new 10% tax on net gaming proceeds.

But legalization is beginning with a whimper in the Covid-19 pandemic, with no major live sporting events and all of the state’s casinos shuttered. With that, revenue from the new tax will be a tiny fraction of what was projected, given that sportsbook operators are relying on Taiwanese baseball, Chinese table tennis, Belarussian soccer, and competitive darts out of ...

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