to get enough signatures<\/a> to place the issue before voters on the November ballot.<\/p>\n<\/div>\nColorado also has a geographic advantage in luring bettors. It borders seven other states, only one of which \u2013 New Mexico \u2013 currently allows sports wagering. Several of the others, such as Arizona and Utah, are unlikely to sign-off on the endeavor anytime soon.<\/p>\n
Plenty of Enthusiasm<\/h2>\n
Colorado has 5.69 million residents and is one of the fastest-growing states in the region. The state is also home to teams from all four of the major professional athletic leagues and three universities that play both Division I football and basketball, making it a potentially lucrative market for sportsbook operators.<\/p>\n
The Centennial State’s sports betting tax structure, which is in line with some of the largest sports wagering states, is also seen as an advantage.<\/strong><\/p>\n\u201cColorado regulators have been deliberate, opting for a later start date to ensure it gets its regulatory framework right,\u201d said PlayColorado. \u201cIts 10% tax on net revenue is comparable to some of the most successful sports betting markets. New Jersey, which is neck and neck with Nevada as the nation’s largest sports betting market, levies a 9.75% tax on revenue from retail sportsbooks and 13% on online sports betting revenue.\u201d<\/p>\n
The favorable tax rate, coupled with what’s expected to be a robust online market, is helping Colorado attract big name sportsbook operators, including Circa Sports<\/a>, Roar Digital and William Hill, among others.<\/p>\n","protected":false},"excerpt":{"rendered":"Colorado’s sports betting market could be one of the most lucrative in the Western US, assuming there are events for gamblers to bet on May 1 when sports wagering will officially be permitted in the state. Last November, Centennial State voters narrowly approved Proposition DD \u2013 the ballot initiative setting the stage for legalized sports […]<\/p>\n","protected":false},"author":46,"featured_media":132424,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,1074],"tags":[],"acf":[],"yoast_head":"\n
Colorado Sports Betting Could Top $6 Billion, Accordig to one Forecast<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n