Colorado is one of the 18 states at this time that has legalised sports betting allowing for a mass amount of revenue as a result. But with so many other states still not legalising this, there is still a long way to go before several states pass this legislation. In this article, we will be looking into what the Colorado Department of Revenue’s Division of Gaming most recent report could mean for the future of sports betting.
Sports Betting In The United States
Sports betting in the United States has been a topic of discussion for several states throughout the country at this time. With a total of 18 states already legalising sports betting, there is a huge amount of potential when it comes to all 52 states allowing sports betting at this time. With many of the states that have legalised this, there have been huge financial benefits for the local politicians that have benefitted local projects and several other building opportunities.
With several other states such as Kentucky, Connecticut and Minnesota making moves towards legislation, it is looking positive that positive changes will be made to legalising sports betting in these states. However, there are still some states in the US that are entirely against the implementation of sports betting in the state. This is an issue that is being pushed through by local lawmakers to see change made within their state in the next few years, though there is still plenty of work to be. But could the promising sign from revenue generated in Colorado be enough to change their minds.
The Signing Of The Sports Gambling Bill In Colorado
Since the supreme court changed the Rulings surrounding the banning of sports betting in the US there has been a huge push to get several gambling bills passed by local government officials. This, of course, bought about a long fight to get sports betting legalised in the state of Colorado as the passing of legislation is now completely down to local governors. Fast forward to November of 2019 where the passing of proposition DD passed with a majority vote to allow sports betting in the US. This was a huge success for the state and was a sign of better things to come for the industry.
A Sign of Bigger Things To Come In Colorado
Since then, sports gambling in the state of Colorado has seen a huge amount of success despite there being next to no sporting events taking place in the beginning months. Despite this, however, a report released by PlayColorado analysts revealed that the amount of revenue generated remained unaffected. According to the report, there was a total of $946,741 in operator revenue from a total of $25.6m in betting revenue that was generated. This is a huge amount of spending for the state that can then be funnelled back into state projects and building infrastructure.
Changes Around The Rest Of The USA
With this vast amount of revenue generated by the state of Colorado, some changes are still needing to be made in 2020. With calls for New York and other huge states to make the most of the revenue generated to boost the economy. However, there is still a lot to be done as a result. With legislation being passed through the courts this year, there is several possibilities for several states to legalise sports betting in 2020.
With this in mind, there are several ways that legalise sports betting is changing in the United States that is leading more towards all states have legalised sports betting to boost revenue within the state to better infrastructure.