Sports gambling is on the ballot again — thanks to its popularity.
State lawmakers want to keep the excess taxes collected from booming sports gambling businesses and use the money for water conservation projects. And, in Colorado, keeping excess tax money requires another statewide vote.
In 2019, Colorado voters legalized sports gambling with a 10 percent tax on casinos’ sports betting proceeds, not to exceed $29 million a year. The tax collections cover the state’s cost to regulate sports gambling and provide addiction programs, with the balance directed to the Colorado Water Conservation Board for various water projects.
But lawmakers didn’t anticipate that Coloradans would love to bet on sports this much.
