The Colorado Limited Gaming Commission is the oversight body for sports betting in the state. The state will collect 10% of net sports betting proceeds as taxes. The only places that other sportsbooks might pop up are the two tribal casinos in the western part of the state.
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and are authorized to launch land-based sports wagering, online sports betting or both. However, estimates now say the state will collect between $1.4 million and $1.7 million in sports betting tax revenue in the first year. That’ll go up to $10.4 million in the first fiscal year, which is a more conservative estimate of $100 million in gambling revenue in the first full year with legal sports betting in Colorado. By law, Colorado had to launch sports betting on May 1, 2020.
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