Voters approve Colorado’s move to keep all sports betting tax revenue
Some 76 per cent voted in favour of Proposition JJ.
US.- Voters in Colorado have voted in favour of the state keeping all sports betting tax revenue. Since 2019, the state has kept up to $29m and returned anything above that to sports betting operators.
With 63 per cent of votes counted, some 76 per cent had voted in favour of Proposition JJ. The ballot measure said the state would transfer funds in excess of $29m annually to Colorado’s water conservation and protection projects.
In September, Colorado’s sports betting handle totalled $562.9m. That’s an increase of 9.8 per cent year-on-year and 51.2 per cent from August. Players bet $558.1m online and $4.8m at retail sportsbooks.
The Colorado Department of Revenue reported that gross gaming revenue was $55.1m, 21.6 per cent higher than $9.2m last year and 66 per cent more than in August. Online contributed $54.6m and retail $464,499.
