Colorado Gaming Commission delays rules on legal sports betting exchange

The state’s gaming commission has voted to take no action on new rules on sports betting exchanges.

US.- The Colorado Limited Gaming Commission (CLGC) has voted to take no action on proposed rules for legal sports betting exchanges. The state’s gaming commission voted 3-1 to delay adopting the rules. It will now let the Colorado Division of Gaming have more time to revise the proposal.

Colorado is set to be the first state to vote to establish rules specific to the regulation of sports betting exchanges. New Jersey is the only US state to implement sports betting exchanges, but it does not have specific rules for them.

Commissioner Justin Davis commented: “There aren’t any rules in place in the nation, or probably the world yet, so we need to proceed carefully, I know the division has done a lot of research to make that happen. But we’ve had a lot of issues raised.”

Colorado sports betting handle reaches $417.8m in April

Colorado’s sports betting handle totalled $417.8m in April. That’s an increase of 6.5 per cent year-on-year, but a decrease of 15.5 per cent from $494.4m in March. Some $414.4m was wagered online and $3.4m at retail sportsbooks. Consumers in Colorado wagered $12.1bn on sports during the first full three years of legal betting in the US state.

The Colorado Department of Revenue reported gross gaming revenue of $35.1m in April, an increase of 55.3 per cent compared to the same period 2022, but only marginally less than $35.4m in March. Online sports betting accounted for the vast majority, with $34.9m. Retail locations reported $$225,884.