Although supporters only need 124,632 signatures from registered voters to get the question on the ballot, campaigns have to get an excess amount to account for double signatures, fake names and people who are registered to vote in Colorado.
Dubbed Initiative 257, the proposed measure would deal with Colorado’s current betting structure on the ballot this November.
"In these unprecedented times of historic unemployment and economic devastation, this measure provides a potential life preserver for these towns and added revenue for struggling community colleges and the State of Colorado," the proponents said in a statement.
While the initiative is not aimed at changing existing rules, it does seek to allow local residents to decide their own personal gaming limits. Initiative 50, which passed more than a decade ago, did the same, with locals deciding that casinos should be allowed to introduce more games and raise the betting limit from $5 to $100.
Initiative 257 has garnered considerable support from two prominent State politicians, namely former mayor of Cripple Creek Bruce Brown and former Colorado Senate president Bill Cadman. It Is said that the amendment would help generate additional tourism due to increased competitiveness on a national scale, thereby providing more money for community colleges.
The Colorado Legislative Council released a report following the campaign’s proposal, highlighting potential pros and cons of the initiative.
“The new measure may increase gambling losses for Coloradans or others who choose to bet additional money on games.
“However, this measure may increase taxes paid by casinos if gaming is expanded or bet limits are increased. The amount by which taxes will increase depends on future decisions to be made by voters."