The legality of sports betting in Colorado is undeniable. However, Colorado residents and visitors do not currently have access to legal casinos. It is true that the specific release time for Colorado sports betting has not been publicly announced.
There is currently no specific timeline available for when Coloradans can expect any news. However, the law does offer some indications.
An indication of a potential Colorado sports gambling start date
The recently approved law in Colorado includes a provision concerning the time frame. Until May 2020, the opening of legal sportsbooks within the Centennial State will not be allowed.
However, there is no guarantee. The process of preparing everything for the launch event may exceed a duration of six months.
The decisions made by the Colorado Limited Gaming Control Commission play a significant role in determining a substantial portion of the outcome. These decisions involve a diverse range of important matters.
The time it takes to establish a specific day may vary depending on the prompt decision-making by the CLGCC, which includes granting permit applications, signing geolocation service contracts, and various other matters.
Fortunately, there seems to be swift progress regarding the fee. The initiation of a conference aimed at gathering client ideas signifies the beginning of the procedure.
Who & is attending the CLGCC’s inaugural sports betting event.
This week, the CLGCC has extended invitations to a diverse group of market stakeholders to engage in discussions regarding legislation. The invited participants encompass various personal individuals, public lawyers from the Colorado Rockies, and others.
- Casino proprietors
- MLB, alongside other professional sports leagues
- users of sportsbooks
- manufacturers of sportsbooks
Due to the vast gambling market in the Centennial State, sports betting is unlikely to be a small venture. Additionally, it is expected that all 33 casinos will be eager to open their doors on Day 1, whenever that may be.
However, in order to achieve this, users are required to comply with all laws, including following gambling regulations, meeting location requirements, adhering to time confirmation standards, and paying licensure fees.
Before implementing the games, the CLGCC must establish standards. The more closely aligned the requirements are with business standards, the simpler it will be for the operators.
The same applies to online casino operators as well. If they can establish their business in Colorado sooner, they will have less work to do in order to comply with the state’s regulations, since many of them already employ wireless technology in other states.
The best – and worst-case possibilities for establish timelines
It is entirely possible that some Colorado license holders may not begin operations on the first eligible date. In other states, certain operators have entered the market several months after being legally allowed to accept bets.
If the CLGCC can swiftly agree upon industry-standard regulations that satisfy legal requirements and business stakeholders, many of them would have the opportunity to complete any required assessments by May. In this case, May 1 could be the day when the CLGCC’s operations conclude successfully.
It is uncertain whether sports betting systems will be available by May 1 if casinos and casino operators do not promptly comply with regulations or if the CLGCC is dissatisfied with the set deadline. However, it is certain that the legalization of sports betting in Colorado is fast approaching.
