Colorado Betting Initiative in November Ballot

Colorado Betting Initiative in November Ballot

Last updated on October 10th, 2020 at 01:48 pm

Among the topics up for a vote in November, there’s a Colorado betting initiative. Amendment 77 wants voters to decide if they give local control to three gaming towns to choose how the future of gambling would be like.

If voters agree, Cripple Creek, Central City, and Black Hawk would be able to hold their elections to find out if locals want to raise betting limits in casinos. When the state legalized gambling, there was a $5 limit on wagers. In 2008, the state increased the limits to $100. Also, voters agreed to let casinos expand their operating hours.

Supporters of Amendment 77 said that it would give the three towns a chance to earn more money. Also, it would make them more competitive with other states. At present, Colorado has the lowest wager limits in the US. It hasn’t kept up with inflation. Also, it doesn’t allow Colorado to compete against other states.

Colorado Betting Initiative in the Ballot

Colorado Betting Initiative in November BallotAside from letting towns vote on betting limits, they could add new games. Casinos in the state have most traditional games. However, they don’t have baccarat based on sportsbook pay per head reports. Once the amendment gets voters’ approval, increased tax revenue will go to community colleges, Teller and Gilpin Counties, and the three gaming towns.

At present, community colleges are hurting because of the coronavirus. Also, they are suffering from state funding cuts and tuition decline. Aside from the colleges, the initiatives could stimulate the local economy.

Bookie pay per head sources said that millions of dollars are leaving Colorado because players are gambling in other states. The initiatives can drive people to the three gaming towns. The visitors would visit several casinos that would benefit the local economy.

According to sports betting software reports, the Colorado gambling proposal has the support of the Colorado Chamber of Commerce, Colorado Gaming Association, community colleges, and more. Also, there’s no opposition to the initiative.