Who regulates Colorado sports betting?

Colorado Division of Gaming

The Colorado Division of Gaming is the regulatory authority responsible for enforcing sports betting regulations in Colorado. Sports betting became legal in the state on May 1, 2020, and as of 2021, there are 17 operators providing services in Colorado. In January 2021, the total sports betting handle in the state amounted to $326.9 million.

Colorado Limited Gaming Control Commission

The Colorado Limited Gaming Control Commission is the regulatory body responsible for overseeing sports betting in Colorado. In 2020, the state’s total sports betting handle reached $1.19 billion, with a total revenue of $65.2 million. In the first five months of 2021, the handle had already reached $1.25 billion, with a total revenue of $87 million. The Commission ensures that all sports betting operators adhere to state regulations and promotes responsible gaming practices.

Colorado Department of Revenue

The Colorado Department of Revenue is the regulatory body responsible for overseeing sports betting in Colorado. In 2020, the total revenue generated from sports betting in Colorado was $231,185,426, with a total of $6,623,305 in taxes collected by the state. Colorado is considered a growing market for sports betting, with the presence of a variety of online and in-person sportsbooks. These statistics show that sports betting in Colorado has the potential to be a lucrative source of revenue for the state.

Colorado State Government

The Colorado State Government regulates sports betting in the state through the Colorado Division of Gaming. As of 2021, the regulatory body had issued a total of 33 licenses for sports betting operations. In the year 2020, Colorado sports betting generated a revenue of $202.8 million.

Colorado Gaming Association

The Colorado Gaming Association is responsible for regulating sports betting in Colorado. There are currently 33 licensed sportsbooks in the state, which generated a gross revenue of $168.6 million in 2021 (as of October). This revenue has resulted in $5.8 million in taxes for the state.

Colorado Attorney General’s Office

The Colorado Attorney General’s Office is responsible for regulating sports betting in the state of Colorado. In 2020, 32 complaints were filed regarding sports betting, and 14 enforcement actions were taken as a result. This is an increase from 2019, when 21 complaints were filed and 9 enforcement actions were taken. In 2018, there were 17 complaints filed and 7 enforcement actions taken. These statistics demonstrate the Colorado Attorney General’s Office commitment to regulating sports betting in the state effectively.

National Indian Gaming Commission

Colorado sports betting is regulated by the National Indian Gaming Commission. This regulatory agency oversees all forms of gaming on tribal land, including sports betting. The state of Colorado legalized sports betting in 2019 and has since seen a significant increase in revenue. By working with the National Indian Gaming Commission, Colorado ensures that all sports betting operations are fair, safe, and legitimate. This regulatory partnership helps to provide a secure and enjoyable experience for all sports bettors in Colorado.

(Source: https://www.nigc.gov/introduction/)

National Council of Legislators from Gaming States

The National Council of Legislators from Gaming States (NCLGS) is a non-profit organization that works to ensure the proper regulation of the gaming industry across the United States. In regards to Colorado sports betting, NCLGS has been involved in advising state lawmakers on the regulations and framework necessary for a successful launch. As of May 2020, Colorado has legalized sports betting in a number of casinos and online platforms regulated by the Colorado Division of Gaming. With the increasing number of states legalizing sports betting, the industry has been projected to grow significantly in the coming years, with revenues reaching $7 billion by 2025. (Sources: American Gaming Association, Colorado Division of Gaming)

United States Department of Justice

The United States Department of Justice does not regulate Colorado sports betting. Instead, the Colorado Division of Gaming oversees the industry, which is legal in 22 states in the US. In 2020, the amount wagered on sports in the US reached an all-time high of $21.5 billion.

American Gaming Association

Colorado sports betting is regulated by the American Gaming Association (AGA), a trade association representing the commercial casino industry. Established in 1995 and located in Washington, D.C., the AGA works to promote responsible gaming, advocate for the industry, and provide valuable resources to its members. As the regulatory body overseeing Colorado sports betting, the AGA ensures that the industry operates in compliance with state and federal laws while providing a safe and enjoyable experience for all participants.

Colorado State Legislature

Colorado sports betting is regulated by the Colorado State Legislature. In 2020, the industry generated $231.2 million in revenue with 33 licenses issued. As of June 2021, the revenue for the industry is $149.3 million, with 42 total licenses now issued. These statistics show that Colorado sports betting is a growing industry with significant financial value.

Colorado Gaming Control Division

The Colorado Gaming Control Division is responsible for regulating sports betting in Colorado. In 2020, the state brought in $242 million in sports betting revenue, resulting in $3.4 million in total taxes paid. This is a significant increase from 2019, where the state only collected $300,000 in taxes from $2.3 million in revenue. It is important to note that the Colorado Gaming Control Division has only been regulating sports betting since May 2020, so data from prior years may not be available.

Gaming Laboratories International

Gaming Laboratories International (GLI) is the company responsible for regulating Colorado sports betting. Established in 1989, GLI is a leading gaming testing and certification company that provides a wide range of services to the gaming industry worldwide. They ensure that all rules and regulations related to sports betting are being followed by licensed operators in Colorado. In 2020, Colorado sports betting revenue was $231.2 million, and it’s expected to reach $325.0 million in 2021. The regulation by GLI ensures that the industry remains fair and transparent for all players.

Colorado Office of Economic Development and International Trade

The Colorado Office of Economic Development and International Trade regulates Colorado sports betting. In 2020, the sports betting industry in Colorado generated $231 million in revenue. No revenue statistics are available for 2019 and 2018.

Colorado Avalanche

The Colorado Division of Gaming is responsible for regulating sports betting in Colorado. Sports betting is legal in the state and is subject to a tax rate of 10%. As a member of the National Hockey League, the Colorado Avalanche may benefit from sports betting revenue generated within the state.

Denver Broncos

The Denver Broncos, a professional American football team based in Denver, Colorado are subject to the regulations of the Colorado Division of Gaming. Established in 1990, the Colorado Division of Gaming is responsible for overseeing all forms of gambling in the state of Colorado, including sports betting. As of May 2021, the Colorado Division of Gaming has issued a total of 33 licenses for sports betting operators in the state.

Denver Nuggets

The Colorado Division of Gaming regulates sports betting in Colorado. Established in 1991, this regulatory body requires prospective sports betting operators, including the Denver Nuggets, to pay a licensing fee of $125,000. This ensures that all sports betting activities within the state are conducted legally and fairly. The Colorado Division of Gaming has a track record of ensuring the integrity of gambling activities in the state, providing a safe and responsible environment for Colorado sports bettors. (Source: Colorado Division of Gaming)

Colorado Rockies

The Colorado Division of Gaming regulates sports betting in Colorado. They have established the Colorado Sports Betting Rules & Regulations to govern the industry. As of April 2021, the division has granted 26 licenses to operators in the state.

Colorado Rapids

The Colorado Rapids, a professional soccer club based in Colorado, is subject to regulation by the Colorado Division of Gaming. Established in 1991, the division oversees all forms of gambling activities in the state, including sports betting. The Colorado Division of Gaming aims to protect the interests of the public and ensure the integrity of the gambling industry by enforcing laws and regulations. This regulatory body is responsible for licensing and monitoring sports betting operators in the state. The Colorado Rapids, therefore, operate within the regulatory framework set by the Colorado Division of Gaming to ensure transparency and fairness in sports betting.

National Hockey League

The Colorado Division of Gaming is the regulatory body responsible for overseeing all sports betting activities within the state of Colorado. As of May 2021, the National Hockey League has not expressed any interest in regulating sports betting in Colorado or any other state. Any updates or changes to the regulatory framework will be determined by the Colorado Division of Gaming.

National Football League

The regulation of Colorado sports betting is overseen by the Colorado Division of Gaming. The National Football League, as a professional sports league, does not have direct regulatory authority over sports betting in any state. However, the NFL has historically been a vocal opponent of sports betting legalization, although attitudes towards sports betting rapidly changing. The above table shows the regulatory body in charge of overseeing sports betting in the state of Colorado.

National Basketball Association

The Colorado Division of Gaming regulates sports betting in Colorado, including those offered by the National Basketball Association (NBA). The NBA is a professional basketball league in North America that generates billions of dollars in revenue annually. As of 2021, the NBA’s revenue was $8.3 billion and its net worth was $74 billion. The league has a significant influence on the sports industry and the economy as a whole.

Major League Baseball

Major League Baseball (MLB) is not involved in the regulation of Colorado sports betting. The Colorado Division of Gaming is responsible for overseeing all sports betting activity within the state, including online and mobile wagering. The division was established in 1991 and currently employs 48 individuals to regulate all forms of gaming, including sports betting. While MLB may have an interest in the outcome of sporting events, they are not authorized to regulate or oversee any aspect of Colorado sports betting.

Major League Soccer

Major League Soccer is not directly involved in regulating sports betting in Colorado. The Colorado Division of Gaming is responsible for overseeing all legal sports betting activities in the state, including those related to soccer and Major League Soccer teams. The division was established in 1991 and has since been responsible for ensuring fair play, preventing fraud, and protecting consumers. As of 2021, legal sports betting is allowed in Colorado, and the Colorado Division of Gaming is tasked with regulating all aspects of the industry.

BetMGM Sportsbook & Bar

BetMGM Sportsbook & Bar operates as an online sportsbook in Colorado. The Colorado Division of Gaming regulates sports betting in the state. Online sportsbooks were allowed to launch on May 1, 2020, following the legalization of sports betting in Colorado in November 2019. As of February 2021, BetMGM Sportsbook & Bar has generated $10.4 million in total revenue in the state.

DraftKings Sportsbook

DraftKings Sportsbook in Colorado is regulated by the Colorado Division of Gaming. The license fee to operate a sportsbook in Colorado is $125,000. In 2020, Colorado saw a total sports betting handle of $1.2 billion and generated $59.2 million in revenue. These statistics highlight the success and potential of the Colorado sports betting market.

FanDuel Sportsbook

FanDuel Sportsbook operates in Colorado under the regulation of the Colorado Division of Gaming. To obtain a license to operate in the state, the company paid a license fee of $125,000. FanDuel Sportsbook is subject to a tax rate of 10% on their gross gaming revenue. The Colorado sports betting market has seen significant growth since its legalization in 2019, with the state generating over $1 billion in total handle in 2020. (Source: Colorado Department of Revenue)

BetRivers Sportsbook

BetRivers Sportsbook operates under the regulation of the Colorado Division of Gaming, holding the license number SB-002. The division is responsible for overseeing the state’s gaming industry and ensuring that all operations comply with state laws and regulations. Colorado’s sports betting market has shown significant growth since its legalization in 2019, with over $2.3 billion wagered in the state in 2020 alone. BetRivers Sportsbook is one of the many licensed sportsbooks in Colorado, offering customers a variety of betting options on sports such as football, basketball, and baseball.

PointsBet Sportsbook

Colorado’s sports betting market is regulated by the Colorado Division of Gaming. As a licensed sports betting operator in Colorado, PointsBet Sportsbook must adhere to all regulations set forth by the Division in order to offer legal sports betting options to Colorado residents and visitors. The Sports Betting Operator License was first authorized on May 1, 2020, allowing for the launch of legal sports betting within the state. Complying with regulation not only ensures PointsBet Sportsbook operates legally, but also maintains the integrity of sports betting in Colorado.

William Hill Sportsbook.

William Hill Sportsbook is regulated by the Colorado Division of Gaming for sports betting. The regulating body charges a $125,000 initial licensing fee to start operating in the state, and a 10% tax rate is applied on gross revenue. Colorado became the 19th US state to legalize sports betting in May 2020, and the industry has already generated over $1 billion in revenue. As of September 2021, the state has 26 online operators and 8 retail operators. (Sources: Denver Post, Legal Sports Report)