Colorado sports betting vote too close to call
A Colorado measure to legalize sports wagering in the state leads by a small margin after voters turned out in large numbers on election day, with the vote stretching to a second day.
As of late Wednesday morning, the “yes” vote leads by over 13,000 of the more than 1.3 million votes casted. Approximately 17,000 votes are still outstanding.
Proposition DD would effectively legalize sports betting, both land-based and on mobile, if it is voted through.
Voters in highly-populated Denver, Boulder, and Fort Collins were all in favor of the measures, while rural voters largely opposed its passing.
The measure would apply a 10% tax on any operation that permits sports betting. The tax is expected to raise $10m of state revenue in the 2020-21 fiscal year.
The revenue would be used to fund water projects.
In May, Colorado lawmakers signed into law a sports betting bill. The state operates under a Taxpayer Bill of Rights that requires tax increase legislation to pass a popular vote.
Rep. Alec Gannet (D-Denver) said: “Coloradans should have the option of betting on the Nuggets or the Broncos. This new funding will go toward protecting our precious water and we believe this is something everyone can support.”
Colorado is home to 33 casinos, which could each apply for a master license to conduct sports wagering. Once a casino is approved, it would be allowed to partner with a land-based and internet operator.
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