Colorado Senate Passes Bill to Limit Sports Betting

The Colorado Senate has passed a bill to limit sports betting, which is now headed to the House. The bill aims to curb problem gambling by restricting marketing and deposit methods.

SB131 would ban some forms of sportsbook marketing, bar users from using credit cards to fund accounts, and limit the number of deposits a bettor can make in a single day. The Senate approved the bill as the legislative session nears its conclusion on May 13. Sen. Matt Ball (D) sponsored the legislation and believes the bill will help curb problem gambling in the state.

The legislation bans push notifications and texts from sports betting operators. Additionally, customers would no longer have the option to fund accounts with credit cards. Lastly, the bill caps user deposits at five over a 24-hour period. The state has collected $143.2 million in tax revenue since sports betting launched in the Centennial State in 2019.