The state of Colorado voted to legalize sports betting on Tuesday, making it the 19th state to join the sports betting party since the Supreme Court lifted the federal ban. Lawmakers in the state of Colorado had been working towards legalization of sports betting for quite some time, but language in the state Constitution forced the decision to be left with the voters.
Most people went into this vote thinking that the sports betting bill, or Proposition DD, would be a slam dunk, but that was not the case. Fans of sports betting were forced to sweat it out overnight in what was just about as stressful as the fourth quarter of a Nuggets or Broncos game.
Lawmakers did their best to get the approval from non-sports voters by attaching Colorado water into this plan. A large portion of the tax revenue from legalizing sports betting was going to help fund the Colorado Water Plan. It was expected that this would be an easy race, but as the night wound down in Denver, the "no" votes were leading by a small margin.
Things changed overnight, and by Wednesday morning, Proposition DD looked as if it would pass. If the margin is less than .5 percent, then a recount would be needed, and a final decision could take months.
Hopefully, that doesn't happen, but it does look like sports betting is coming to Denver, and Colorado, in the very near future.
Why So Much Opposition?
Lawmakers in the state of Colorado didn't face a ton of opposition with this proposal, but that clearly changed when voters took to the polls. One of the reasons that this vote was so close was likely the language that was used on the ballot. The language made Proposition DD seem like a tax increase throughout the state, but really, the tax was just going to be placed on casinos and anyone with a license to offer sports betting.
Another reason for so much potential opposition is the fact that sports betting isn't really going to affect a large majority of the state. Almost all of the casinos and sports betting locations are located in Northern Colorado, and it's hard for some people to get to these places.
Another large section of the population is either too young, or not a sports fan, and therefore voting for this new Proposition didn't really offer them anything at all. The opposition came out of nowhere and was a huge surprise, but luckily the number was just small enough to allow Proposition DD to get voted through.
What Does This Mean and What Comes Next
By passing Proposition DD, the voters in Colorado have just created a scenario where the Clean Water Plan will be funded for years to come. The sports betting industry is one of the fastest-growing industries in all of sports, and Colorado would have made a huge mistake if this didn't pass.
This also means that the casinos that are expected to be granted a license will need to start making plans to open up a sportsbook at their locations. There are plenty of other companies and locations that would love to be granted a license as well, and the state's lawmakers will have to make a decision and a ruling about how many licenses they want to dish out.
Another thing that you will now start hearing about in Colorado is the push to legalize mobile and online betting, as well. States with legalized sports betting have seen much more revenue come in with mobile betting than by people who actually visit the casinos and the retail sportsbooks. With the casinos being located in remote, small towns in Colorado, mobile or online betting is a must.
Denver Sports Betting Has You Covered
We here at Denver Sports Betting were obviously keeping a close eye on the race all night and were happy to wake up to some great news. Denver Sports Betting was a huge supporter of Proposition DD, and we are extremely excited to see and hear that sports betting is coming to our state, and our beloved city.
Legalized sports betting in the state of Colorado will bring a whole new wave of customers to our site, and we have the knowledge and resources to help a new generation of sports bettors. Our name might be Denver Sports Betting, but we have plenty of knowledge about other sports and other teams across the country, as well.
We will continue to monitor this situation and provide updates of any other major news, as well as keep you up to date on some of our future plans. Legalized sports betting in the state of Colorado means big things for us, and we will be ready to step up our game to continue to be your number one source for all things Denver sports, and all things sports betting.