April 30, 2021 Casino, Land-Based

Colorado casinos set to increase bet limits

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Colorado casinos will increase bet limits beginning Saturday May 1 in accordance with an amendment passed by voters last fall.

Coloradans approved Amendment 77 in November, which allows casinos in the state’s gambling towns of Black Hawk, Central City and Cripple Creek to remove a $100 cap on wagers.

The Colorado Limited Gaming Control Commission has also approved the expansion of new casino games, including blackjack, poker and war, as well as keno, pai gow tiles, Big Six Wheel and baccarat.

New games will begin to roll out May 1.

Casino bet limits are expected to fall anywhere from $500 to 1,000 per wager, according to the Pikes Peak Courier. High rollers can expect limits of up $2,500 per bet.

Amendment 77 passed by a 60% to 40% margin, signifying Coloradans are ready to take bigger risks on their trips to casinos. The higher bet limits are expected to provide a substantial revenue boost for the mountain towns where Colorado casinos are located.

Casinos, which have operated under 50% capacity since February, have seen disappointing retail sports betting figures since the start of the Covid-19 pandemic.

In March, retail sportsbooks took in a loss of $-1m in gross gaming revenue upon handle of $5.8m. The negative revenue was a result of promotional play.

By increasing bet limits and casino game options, casinos should be able to overcome some of their unrealized sports betting potential.

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