Colorado voters will decide next month on whether to legalize sports betting and immediately subject it to taxation to help future-proof water supply for the Mile-High State’s farmers and agriculture in general.
The betting referendum measure (Proposition DD), by the Colorado General Assembly, would legalize and regulate sports betting through online or mobile sports betting platforms operated by casinos in Colorado. As a consequence, the State General Assembly would impose a 10% tax on land-based and online casinos’ net sports betting proceeds. Voters on November 5 will consider the measure along with (Proposition CC) that will allow the state government to spend the money it would ordinarily be required to return to taxpayers under the state’s unique tax-and-spending limitation amendment. Both measures appear likely to pass.