{"id":280956,"date":"2023-07-17T15:31:26","date_gmt":"2023-07-17T20:31:26","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=280956"},"modified":"2023-07-18T12:48:01","modified_gmt":"2023-07-18T17:48:01","slug":"colorado-online-casino-talks-surface","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/colorado-online-casino-talks-surface\/","title":{"rendered":"Colorado Online Casino Talks Surface"},"content":{"rendered":"\r\n<p>Legal online casinos in Colorado are on the table. Colorado\u2019s Department of Revenue Executive Director Mark Ferrandino confirmed that conversations regarding the matter have started.<\/p>\r\n<figure id=\"attachment_281416\" aria-describedby=\"caption-attachment-281416\" data-style=\"width: 430px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-281416 size-post-thumbnail-430xAUTO\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/715b5d89-c300-45a9-8cad-8541f9cafbc2_750x422-430x242.jpg\" alt=\"Colorado State Capitol building\" width=\"430\" height=\"242\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/715b5d89-c300-45a9-8cad-8541f9cafbc2_750x422-430x242.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/715b5d89-c300-45a9-8cad-8541f9cafbc2_750x422.jpg 750w\" sizes=\"(max-width: 430px) 100vw, 430px\" \/><figcaption  id=\"caption-attachment-281416\"class=\"text-description\">The Colorado State Capitol building, above. Colorado Department of Revenue Executive Director Mark Ferrandino says lawmakers could soon move to legalize online gaming in the state.\u00a0 (Image: 9News)<\/figcaption><\/figure>\r\n<p>Ferrandino told an audience at the National Conference of State Legislatures (NCGLS) in Denver that \u201ctalks are underway about legalizing online casino gaming in the state.\u201d<\/p>\r\n<p>Colorado could join the other states that are getting in on the online action as a way to claim its share of the dollars surrounding casino games on the internet. Just last month, Rhode Island became the seventh state in the U.S. to offer iGaming. The first six states in the online casino market reported revenue of more than $500 million in May 2023.<\/p>\r\n<div class=\"callout\">\r\n<p>While Colorado law doesn&#8217;t allow online casino gambling, it does allow regulated online sports betting. In the three years since online sports wagering officially began on May 1, 2020, Colorado reports nearly $409 million in net sports betting proceeds. Those figures could be fueling talks to expand the state&#8217;s online gaming market.<\/p>\r\n<\/div>\r\n<p>Talks have started, but the road to completion may follow a winding path. First, the Colorado State Legislature would need to pass online casino legislation, which would then need to be signed by the governor, before going to the voters for approval. After that, retail casinos could apply for licenses and partner with online operators.<\/p>\r\n<h2>Colorado\u2019s Fertile Gambling Grounds<\/h2>\r\n<p>Online sports betting, daily fantasy sports, and pari-mutuel wagering are all legal in Colorado. Colorado has 20 sportsbooks available, second only to New Jersey, which has 22.<\/p>\r\n<div class=\"callout\">\r\n<p>Colorado offers one of the lowest sports betting taxes in the US at 10%. That number ranks far lower than larger gambling states like New York at 51%, Pennsylvania at 36%, and Illinois at 15%. Colorado&#8217;s tax applies to mobile sportsbooks and retail operators.<\/p>\r\n<\/div>\r\n<p>It&#8217;s expensive to operate a sportsbook, and some haven&#8217;t made it in Colorado. But talks of online gaming expansion have ignited interest and investment. Barstool Sportsbook&#8217;s parent company, PENN Entertainment, recently announced a sizeable upgrade. The upgrade went live in all 16 US jurisdictions where Barstool Sportsbook is live, including in Colorado.<\/p>\r\n<p>\u201cMigrating onto our proprietary technology platform and introducing a fully upgraded Barstool Sportsbook is a milestone achievement,\u201d said Jay Snowden, CEO and president of PENN Entertainment.<\/p>\r\n<p>Adding to the online environment, supporters of online gaming expansion point out there are more than 30 retail casinos in the Centennial State, so there could be plenty of licenses to go around and certainly plenty of interest in obtaining one.<\/p>\r\n<h2>Online Operators Gearing Up<\/h2>\r\n<p>Just the potential of online casinos has operators getting ready to launch. Entering the market first could mean a much larger share of profit.<\/p>\r\n<p>PlayStar co-founder and Chief Business Development Officer Adam Noble has previously commented on the importance of planning in advance.<\/p>\r\n<blockquote class=\"main-blockquote\">\r\n<p><strong>PlayStar is a brand that\u2019s committed to providing players in the US with a genuinely unique online casino experience \u2013 and by teaming up with GF Gaming in Colorado, we\u2019re already looking ahead to how we can expand these plans into the next market when regulation allows,\u201d<\/strong> Noble said.<\/p>\r\n<\/blockquote>\r\n<p>Colorado\u2019s sports betting numbers have supporters of the online gambling expansion making comparisons. It&#8217;s believed Colorado could be in the New Jersey or Michigan ballpark (about $156 million each in May) if and when online casinos do launch in the state.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Legal online casinos in Colorado are on the table. Colorado\u2019s Department of Revenue Executive Director Mark Ferrandino confirmed that conversations regarding the matter have started. Ferrandino told an audience at the National Conference of State Legislatures (NCGLS) in Denver that \u201ctalks are underway about legalizing online casino gaming in the state.\u201d Colorado could join the [&hellip;]<\/p>\n","protected":false},"author":98,"featured_media":281416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,19,13,86431],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Colorado Online Casino Talks Surface - Casino.org<\/title>\n<meta name=\"description\" content=\"Legal online casinos in Colorado are on the table. Colorado\u2019s Department of Revenue Executive Director Mark Ferrandino confirmed that conversations\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/colorado-online-casino-talks-surface\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Colorado Online Casino Talks Surface - Casino.org\" \/>\n<meta property=\"og:description\" content=\"Legal online casinos in Colorado are on the table. Colorado\u2019s Department of Revenue Executive Director Mark Ferrandino confirmed that conversations\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/colorado-online-casino-talks-surface\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-17T20:31:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-18T17:48:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/715b5d89-c300-45a9-8cad-8541f9cafbc2_750x422.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"422\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Craig Boswell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Craig Boswell\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/colorado-online-casino-talks-surface\/\",\"url\":\"https:\/\/www.casino.org\/news\/colorado-online-casino-talks-surface\/\",\"name\":\"Colorado Online Casino Talks Surface - Casino.org\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/colorado-online-casino-talks-surface\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/colorado-online-casino-talks-surface\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/715b5d89-c300-45a9-8cad-8541f9cafbc2_750x422.jpg\",\"datePublished\":\"2023-07-17T20:31:26+00:00\",\"dateModified\":\"2023-07-18T17:48:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/e6078962c48aceb0701d2ca8bea14256\"},\"description\":\"Legal online casinos in Colorado are on the table. 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