The State of Colorado became the 19th state to officially put laws in place that make sports betting a legal and regulated activity. The law passed just barely. It was a 50.7% to 49.3% vote.
There is a 10% flat tax on net sports betting proceeds. The state claims it had allocated revenue from this venture to be used for water conservation projects. The conservation plan set in motion by former Gov. John Hickenlooper’s administration, sets out to provide the proper support for water needs for a growing population.
We will keep our reader apprised of which companies will be managing the actual sports betting activities.
