Despite the global pandemic that’s going on and the suspension of major sports that happened because of it, Colorado couldn’t wait to finally launch legalized sports betting.
The Centennial State will officially be open to taking sports bets May 1.
It will still serve as a historic day for sports fans in the state, even though bettors’ options will be severely limited right now. Colorado has bigger future plans to be a robust state for sports betting.
Bronco fans need to look no further than their own backyard to place sports bets anymore, and that’s something worth celebrating even during these challenging times.
Here’s a brief rundown on the road to sports betting in Colorado and what it looks like.
Supreme Court Decision Makes a Way
The 2018 U.S. Supreme Court that ruled that sports betting bans were unconstitutional and needed a revision was a major victory for the sports betting market in the U.S.
Although it took six years of litigation to finally pass, once it did, states like New Jersey took the lead in implementing the legal sports betting market, and soon others quickly followed.
In a bipartisan effort, lawmakers in Colorado referred for a sports betting measure to be added on the Nov. 2019 statewide ballot. That paved the way for a majority of Colorado voters saying “yes” to legalizing sports betting, as well as a 10 percent tax rate on any casino earnings.
What Legalized Betting Means for the State
Different states have their own unique rules and regulations when it comes to legalized sports betting.
For Colorado, a wide variety of sports is available for wagers with the legalization. That spans from major professional sports to the more niche, unheard of sports.
NFL, soccer, track and field, Olympic games, will all be available to bet on, but so will sports like intercollegiate competitions and professional video-game competition, granted that the specific sportsbook creates a wager for them.
Ways You Can Bet
Betting will be done in one of two ways.
The first is betting at physical locations. Once casinos reopen in the state, which is expected to be near the end of May, bettors can drive to them and place their bets on-site.
The other betting option is mobile betting applications, which any phone is Colorado will be capable of doing.
What Kind of Bets Can Be Made?
Wagers will range from simple bets that many sports bettors are already used to seeing claiming team winners, like “The Denver Broncos beat the Miami Dolphins,” but there will also be the option for more complicated bets including wins by a specific point range.
What Kinds of Sports Can Bettors Bet on Immediately?
It’s definitely a unique situation that Colorado has run into with the official launch of sports betting. Many of the sports bettors are used to waging on simply aren’t an option right now.
With that reality in mind, what can bettors in Colorado expect to bet on right now?
Well, right now the main focus seems to be upcoming UFC matches. State gaming officials are also looking to see if virtual NASCAR races will be sanctioned.
And one of the most anticipated sporting events of the month looks like it will be the charity golf match between Tiger Woods and Peyton Manning against Phil Mickelson and Tom Brady.
We’re happy to states like Colorado, who have waited patiently for sports betting to arrive on the scene, finally get to be a part of the family of states who has already gotten legal with it.
Although it comes out at a seemingly inopportune time, that doesn’t dull the excitement of legalization and the future of sports betting in Colorado to come.
Are you still placing sports wagers during this offseason for major sports? We’d love to know what you’re betting on.
Hopefully, casinos will be reopening by month’s end, and by Summer, we’ll be able to see some sports can return again.