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Colorado begins issuing sports betting licenses

Colorado is quickly putting the pieces in place to begin offering regulated sports betting to its citizens as soon as May 1, according to an article recently published on Legal Sports Report. Centennial State lawmakers have already issued seven sports betting licenses to operators and more are expected in the future. In short, the tide of regulated wagering that is sweeping the United States seems unstoppable as it adds new states on an almost daily basis.

The lucky recipients of the new licenses are located in three former mining towns, all located at least an hour’s drive from the city of Denver and include: The Brass Ass, Double Eagle, McGills and Midnight Rose casinos in Cripple Creek; the Monarch and Saratoga in Blackhawk; and the Dostal Alley in Central City. As of this writing, none of the operators have attached themselves to sportsbook operators. Under Colorado law, an operator must first receive its license before announcing a sportsbook partner.

Colorado Law also provides licensed operators the opportunity to work with as many as three different online providers, as mobile wagering is a key component of Colorado sports betting law.

When Colorado officially launches sports betting on May 1, residents will be able to wager on most sports with few restrictions. The biggest block is that no wagering will be allowed on youth or club sports. Colorado residents will, however, will allowed to wager on the outcome of the Oscars.

As part of the sports betting launch, lawmakers are also considering raising the maximum wager in the state. As it stands, no single wager in Colorado can exceed $100.