The Colorado sports betting market could undergo a major overhaul if a bill passed Wednesday by the state legislature receives approval from Gov. Jared Polis.
The state Senate agreed to minor amendments approved earlier this week by the House, then narrowly backed the measure, 20-15, to clear it on the final scheduled day of the 2026 legislative session. Polis now has 30 days to decide whether to sign the bill, veto it or allow it to become law without his signature.
If enacted, SB 131 would put in place sweeping player protection measures. Those include a ban on credit card deposits and daily limits on how frequently a bettor can fund their online wagering account.
While creating stronger safeguards for most players, the CO sports betting bill also would score a major victory for professional bettors by preventing sportsbooks from limiting an account, with the exceptions of suspicious activity and responsible gambling concerns.
Legislators initially attempted to outlaw player prop bet markets before later stripping that provision out of the bill.
What will Colorado sports betting bill do?
Sponsored by Sens. Matt Ball and Byron Pelton, the Colorado sportsbook bill survived a number of revisions to reach the desk of Polis. Beyond the credit card ban, what remains in the measure is a list of protections hailed by responsible gaming advocates as significant progress:
- No push notifications or texts to solicit wagers or deposits
- No more than six separate deposits for a sportsbook account holder in a so-called “gaming day”
- “Bonus bet” or “no sweat” language banned in marketing for sports betting
- Marketing affiliates and sportsbooks barred from targeting people under the age of 21
“We applaud the Senate and the leadership of bill sponsors Sens. Matt Ball and Byron Pelton and Reps. Dan Woog and Steven Woodrow for championing this precedent-setting legislation. It is heartening to see the Colorado legislature prioritize the well being of its constituents with these revolutionary consumer protections. We strongly urge Gov. Jared Polis to sign this bill, which will establish Colorado as a national leader in sports betting protections,” said Brianne Doura-Schawohl with the Campaign for Fairer Gambling.
Colorado sports betting market at a glance
Originally launched in May 2020, Colorado’s sportsbook market opened as one of the most competitive in the country. Readily available online licenses and an industry-friendly tax structure created competition among 17 sportsbooks for players, including sizable signup bonuses and other marketing offers.
To date, sports betting in Colorado has generated:
- $29.1bn in handle
- $2.19bn in revenue
- $143m in state taxes
The $29.1bn handle figure places Colorado seventh overall among U.S. states in total amount wagered since inception.
Last year, Polis signed a bill restructuring how sportsbooks are allowed to deduct promotional and free play given to players from their revenue totals.
