Colorado’s Proposed Initiative to Remove Casino Betting Limits

People's Hands Playing PokerCurrently, gamblers in Colorado aren’t allowed to wager more than $100 on a single bet when it comes to trying their hand at blackjack, poker, craps and other games. While this is higher than the limit state voter’s initially approved for back in 1990, a mere $5, it’s been years since the limit has increased.

Voted bet to increase the single bet limit to $100, but there hasn’t been progression on the amount since then. In fact, Colorado is one of only two states in the US that enacts limits on individual bets, the other state being South Dakota. But even South Dakota’s limit is higher, at $1,000 per single bet.

The tides are changing in 2020 though, with a proposal that’s currently being crafted in the state. That proposal would effectively allow Colorado’s three mountain towns, Black Hawk, Central City, and Cripple Creek, to remove the betting limit completely.

“These towns have built much of their local economies around hotels, restaurants, tourism and travelers who visit because of gaming. Voters in these communities should be allowed to decide what is best for them and their economy, including whether they want to change betting limits and add new games,” says Bruce Brown, former mayor of Cripple Creek who’s in support of a ballot initiative that would allow that.

Brown is a major proponent of a new ballot initiative that would allow betting limits to change and the addition of new games.

Initiative 157

Both Brown and Bill Cadman, former Colorado Senate president, are pushing to get this initiative, known as Initiative 157, onto Colorado’s ballot in November. If it makes it to the ballot, residents from the three casino towns will have the voice to be able to determine whether the limit will be removed.

It will be quite the road to get Initiative 157 on the November ballot, as it’ll require approximately 125,000 valid signatures submitted by early August. Signatures will also need to be representative of 2% of registered voters in 35 of Colorado’s Senate districts.

Even if that support is gained, 55% of the voters who participate in the 2020 election will still have to approve it. Why? Because the initiative is a direct amendment of the Colorado Constitution. If all goes through, gamers may get to see betting restrictions lifted as early at May 2021.

Mountain Towns Seem in Favor

In regards to lifting the betting limits and adding new games, David Spellman, Black Hawk’s mayor, is all in favor, stating that the cities want to give their players what they want.

“The City of Black Hawk is always in favor of gaming enhancements. As the gaming experience improves, it is more likely the original three host cities will continue to meet the demands of the gaming community.”

Karen Crummy, a spokesperson for the initiative, says it will effectively boost the income of Colorado’s mountain-town casinos.

“If local voters choose to approve new games and betting limits, mountain casinos could attract higher-income Coloradans who would typically travel to other states to gamble, as well as out-of-state, high-stakes bettors visiting Aspen or Vail.”

Maverick Gaming Purchases 3 New Colorado Casinos

Las Vegas-based casino company Maverick Gaming continues to expand. This week, the company has announced that it’s bought three new casino venues in Colorado. It’s clear that this company is working to become a major player in the US casino market. Maverick Gaming Logo

Casino competition is growing quickly around the country. Many companies are now working to capitalize on the liberal laws many states are putting on the gambling industry. Let’s look at why Maverick Gaming has bought these Colorado casinos, and what other states this company may be interested in entering in the future.

Maverick Gaming Breaks Into the Colorado Market

Las Vegas is home to a huge number of casino operators. Some of the biggest in the country are based here including Las Vegas Sands and Wynn Resorts. There are also a huge number of small, independent casino companies such as Maverick Gaming, that are trying to make a name for themselves.

Over the past several months, this company has begun to significantly expand its portfolio. It already owns five casinos in Nevada. Back in August, Maverick announced that it purchased six different card rooms in the state of Washington.

This week, officials at Maverick revealed that they’d acquired CC Gaming LLC. The company has officially taken over CC Gaming’s three casino venues located about an hour west of Denver. Specific terms of this deal were not disclosed to the public and still needs to be approved by the Colorado Limited Gaming Control Commission.

Eric Persson, an executive at Maverick, commented on the news to the media this week.

“I admire the work that John Zimpel, owner and managing member of CC Gaming, has done to grow his casino business and we look forward to building upon the foundation he established,” he said. 

Casino Competition Continues to Grow in the US

The US casino market has never been stronger. In recent months, a huge number of states have begun to open and expand their gambling industries. Even states that, in the past, set tight regulations on casino gambling, are now beginning to allow new gambling venues to open up.

New York is one of these states. Lawmakers in New York have allowed tribal gambling for years. Now, this state also allows commercial casinos and even sports betting. The Upstate New York area is now home to many different casinos. Many are struggling to generate revenue here due to the rise in competition.

Illinois is also set to expand its casino market. Not long ago, Governor JB Pritzker revealed a new capital plan that allows for five new casinos to open in the state. Interestingly, lawmakers here have approved a casino to open in Chicago for the first time ever.

Many states are earning millions of dollars a month from their casino industries. New Jersey’s gambling market has grown significantly over the past few years thanks to new sports gambling options and upgraded casinos. Many now feel that Atlantic City could overtake Las Vegas as the gambling capital of the United States.

Online Casino Gambling Grows More Popular, As Well

Unfortunately, some states around the country still implement old-school laws on the gambling industry that ban land-based casinos. Many residents in these states choose to make their wagers online. Today, there are a huge number of fantastic US casino websites that are available throughout the entire country.

One of the most popular available right now is Cherry Gold Casino. This site has grown extremely popular with hardcore casino gamblers thanks to its huge range of gaming options and safe payment system. It accepts players from around the country and offers hundreds of different games every single day.

Internet casino sites allow players to make wagers from the comfort of home. Most of these websites also offer great mobile platforms, allowing you to play your favorite games using just your phone.

Casino gambling is growing more popular in the US every single year. Maverick Gaming is clearly trying to capitalize on the rise of gambling here. We’ll need to wait and see how successful these Colorado casinos are for the company.

Make sure to stay tuned for more US casino news over the next few months!