Sports Betting is just a few months away from becoming legalized in Colorado, and there is a buzz around town because of it.
Soon enough, anybody that can drink will be able to throw some coin on a game while walking into a stadium, or sitting on the couch; however, the state of Colorado will have a say on what wagers sports bettors will be able to place.
According to the Denver Post, the Colorado Limited Gaming Control adopted rules that will allow the state to provide “guidance on how so-called proposition betting opportunities will be determined.”
The commission will have total influence over what prop bets are offered to the public at local sportsbooks, both online and at casinos.
This does not necessarily mean prop bets will be restricted, although it appears there could be fewer prop bets offered compared to some online or international books.
The state will create a catalog with a set of approved bets that are to be offered publically via sportsbooks. Per the Post, if a book or casino wants to add a prop bet not provided in the catalog, they will need to submit an application 72 hours in advance before the lines are made live.
“Once that bet it approved … it would be updated on that list, and any operator would be able to take that bet,” The Department of Revenue’s Gaming Enforcement Division Director Dan Hartman said. “That catalog would be a living document. “
As it stands, people in Colorado will be able to bet on professional sports ranging from the core four American sports to sanctioned e-sports.
Think of the state as a facilitator. Whenever a sportsbook wants to offer up odds on an event – or prop bet – not provided in the catalog, they will have to submit a request, which the state has the power to approve or deny. That said, so long as the requests are within reason, there should (hopefully) be no major complications.
Additionally, the Post reports that the state’s commission approved the “first master licenses” to casinos in Cripple Creek, Black Hawk and Central City, which allows them to move forward with sports betting come May 1.
Sports Betting has been considered taboo for decades, but Colorado will change the narrative surrounding it when spring rolls around.