Colorado

Colorado sports betting is popular enough to quickly benefit state water projects after all


Colorado sports betting is popular enough to quickly benefit state water projects after allColorado voters’ gamble may have quickly paid off after all.  Sports betting got off to a hot start, meaning enough tax revenue has already been collected to start benefiting Colorado’s Water Plan projects. That’s despite projections from Gov. Jared Polis’ administration warning that the wagering would begin slowly and that money wouldn’t flow to water […]u003c/p>n”,”imageUrl”:”https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg”,”platforms”:[“reddit”,”twitter”,”facebook”],”platformData”:{“comment”:{“iconTitle”:”Comment”,”shareUrl”:”#coral_thread”,”target”:”_self”}},”title”:”Colorado sports betting is popular enough to quickly benefit state water projects after all”,”url”:”https://coloradosun.com/2021/01/26/colorado-sports-betting-water-plan/”,”analytics”:{“share”:{“category”:”Engagement”,”action”:”Share”}},”className”:””,”style”:[],”themeName”:”pill”,”themeOptions”:[“default”]},”children”:[]},{“name”:”lede-common/post-byline”,”_alias”:””,”config”:{“postId”:169634,”singleDelimiter”:””,”multiDelimiter”:””,”lastDelimiter”:””,”preText”:””,”groupBylines”:false,”showAvatar”:true,”className”:””,”style”:[],”themeName”:”sidebar”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/fragment”,”_alias”:””,”config”:{“className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/fragment”,”_alias”:””,”config”:{“tag”:”div”,”className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/link”,”_alias”:””,”config”:{“href”:”https://coloradosun.com/author/jesse-paul/”,”fragment”:””,”rel”:””,”target”:””,”analytics”:{“click”:{“action”:”Author”,”category”:”Navigation”,”label”:”Author Avatar”}},”className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/post-featured-image”,”_alias”:”irving/image”,”config”:{“postId”:166191,”allowUpscaling”:false,”caption”:””,”useThemeFallback”:false,”loading”:”lazy”,”objectFit”:”cover”,”showMeta”:false,”queryArgs”:[],”aspectRatio”:”square”,”className”:”post-byline__avatar”,”credit”:””,”src”:”https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2018/08/jesse.jpg?w=150&h=150&crop=1″,”width”:”150″,”height”:”150″,”alt”:””,”sizes”:”(max-width: 150px) 100vw, 150px”,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[]}]}]},{“name”:”irving/fragment”,”_alias”:””,”config”:{“tag”:”div”,”className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/link”,”_alias”:””,”config”:{“href”:”https://coloradosun.com/author/jesse-paul/”,”fragment”:””,”rel”:””,”target”:””,”analytics”:{“click”:{“action”:”Author”,”category”:”Engagement”,”label”:”Author Name”}},”className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/text”,”_alias”:””,”config”:{“content”:”Jesse Paul”,”html”:false,”oembed”:false,”tag”:”span”,”className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”,”unstyled”,”responsiveEmbed”,”html”,”caption”,”h1″,”h2″,”h3″,”h4″,”h5″,”h6″]},”children”:[]}]}]}]}]},{“name”:”lede-common/post-timestamp”,”_alias”:”irving/text”,”config”:{“postId”:169634,”content”:”u003cdiv class=”post-date”>12:30 AM MST on Jan 26, 2021u003c/div> “,”correctionDate”:””,”html”:true,”postDate”:”12:30 AM MST on Jan 26, 2021″,”className”:””,”style”:[],”themeName”:”timestamp”,”themeOptions”:[“default”]},”children”:[]}]}]},{“name”:”irving/container”,”_alias”:””,”config”:{“postId”:169634,”backgroundImageUrl”:””,”maxWidth”:””,”tag”:”div”,”className”:”article-featured-image”,”id”:”single_media”,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/post-featured-image”,”_alias”:”irving/image”,”config”:{“postId”:169634,”allowUpscaling”:false,”caption”:”Coors Field. (Owen Lystrup via Unsplash)”,”useThemeFallback”:false,”loading”:”lazy”,”objectFit”:”cover”,”showMeta”:true,”queryArgs”:[],”aspectRatio”:”16:9″,”credit”:””,”src”:”https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg”,”width”:710,”height”:473,”alt”:””,”sizes”:”(max-width: 710px) 100vw, 710px”,”srcset”:”https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg 5304w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg?resize=300,200 300w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg?resize=768,512 768w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg?resize=1024,683 1024w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg?resize=1536,1024 1536w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg?resize=2048,1365 2048w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg?resize=1080,720 1080w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg?resize=72,48 72w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg?resize=564,376 564w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg?resize=615,410 615w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg?resize=114,76 114w”,”className”:””,”style”:[],”themeName”:”article”,”themeOptions”:[“default”]},”children”:[]}]},{“name”:”irving/container”,”_alias”:””,”config”:{“backgroundImageUrl”:””,”maxWidth”:””,”tag”:”div”,”className”:”article-content-container”,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/container”,”_alias”:””,”config”:{“backgroundImageUrl”:””,”maxWidth”:””,”tag”:”div”,”className”:”article-content”,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”lede-common/credibility-indicators”,”_alias”:””,”config”:{“postId”:169634,”className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[]},{“name”:”lede-common/post-content”,”_alias”:””,”config”:{“postId”:169634,”content”:”u003cdiv id=”pico”>nu003ciframentallowfullscreen=”false”ntframeborder=”0″ntsandbox=”allow-forms allow-scripts allow-same-origin”ntsrc=”https://omny.fm/shows/the-colorado-sun/colorado-sun-daily-sun-up-higher-proportion-of-whi/embed”ntheight=”200″ntwidth=”100%”nttstyle=””ntclass=””n>u003c/iframe>nnnnu003chr class=”wp-block-separator” />nnnnu003cp class=”has-drop-cap”>Colorado voters’ gamble may have quickly paid off after all. u003c/p>nnnnu003cp>Sports betting got off to a u003ca href=”https://coloradosun.com/2020/08/27/coronavirus-colorado-sports-betting/”>hot startu003c/a>, meaning enough tax revenue has already been collected to start benefiting Colorado’s Water Plan projects. That’s despite projections from Gov. Jared Polis’ administration u003ca href=”https://coloradosun.com/2019/12/20/sports-betting-colorado-water-plan-analysis/”>warningu003c/a> that the wagering would begin slowly and that money wouldn’t flow to water projects until at least the second full year of sports betting. u003c/p>nnnnu003cp>Colorado had already collected more than $3.4 million in sports betting tax revenue through the end of December, more than enough to cover the roughly $2 million in startup costs that had to be paid off before wagering dollars could start being directed to the water plan projects, including increasing storage capacity.u003c/p>nnnnu003cdiv class=”responsive-half”>n u003cdiv id=”sponsor” class=”House Ad — Leg Event”>n u003cp class=”spon-sponsor” style=”margin: 0 auto;width: 200px;text-align: center”>TODAY’S UNDERWRITERu003c/p>n u003ca href=”http://coloradosun.com/events?utm_source=article&utm_medium=cube&utm_campaign=leg-event-20201″>u003cimg style=”width:300px;margin:0 auto” src=”https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2021/01/BIG-IDEAS-2021-Cube-final.jpg?w=600″>u003c/a>n n n u003c/div>nu003c/div>nnnnu003cp>Sports betting began in Colorado in May, after voters passed Proposition DD in November 2019. More than $1 billion has been wagered so far.u003c/p>nnnnu003cp>“It’s a sign that we built a healthy, competitive, regulated marketplace,” said state House Speaker Alec Garnett, a Denver Democrat who championed legislation that put Proposition DD on the ballot. u003c/p>nnnnu003cp>Proposition DD was pitched to voters as a way to direct money to the state’s water plan, which could have a price tag as large as $40 billion. But in December 2019, Polis’ Department of Revenue warned state lawmakers that it would possibly take until the 2021-22 fiscal year before enough tax revenue came in for the water plan to benefit. u003c/p>nnnnu003cp>The sports betting tax revenue is still far lower than the Colorado General Assembly’s fiscal analysts projected. But the upshot is that there’s already plenty of sports betting tax dollars — which are generated by a 10% tax on casinos’ net proceeds — to turn on the water-plan-funding spigot.u003c/p>nnnnu003cp>In other words: Colorado gamblers lost a lot of money last year and state water projects will benefit.u003c/p>nnnnu003cp>It’s not totally clear how coronavirus has affected sports wagering, but officials are pleased with how much betting there has been.u003c/p>nnnnu003cdiv class=”wp-block-image PicoSignal picoanon picoreg”>u003cfigure class=”aligncenter size-large is-resized”>u003ca href=”https://trypico.com/thecoloradosun/select-plan?id=CheckoutWizard_thecoloradosun&short_code=gvbdp42v”>u003cimg loading=”lazy” src=”https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2021/01/we-need-you-1-1.gif?w=400″ alt=”” class=”wp-image-167602″ width=”310″ height=”103″ />u003c/a>u003c/figure>u003c/div>nnnnu003cp>Suzanne Karrer, a spokeswoman for Colorado’s Division of Gaming, which is housed under the Department of Revenue, said payments to the water plan are made at the end of the fiscal year. u003c/p>nnnnu003cp>“The division is happy with the revenues exceeding expectations and how positive the impact will be in the fall for the water plan,” Karrer said.u003c/p>nnnnu003cp>Garnett said that the sports betting tax revenue is just a drop in the bucket when it comes to the water plan’s needs, but it’s a good start. Critics of Proposition DD complained it did too little to make an impact.u003c/p>nnnnu003cp>Gamblers have placed more than $1.1 billion in wagers since sports betting began in Colorado last year.u003c/p>nnnnu003cp>American football saw the most bets in December, with $88.1 million in wagers placed with retail and online operators, followed by basketball at $42.8 million. Coloradans continue to show u003ca href=”https://coloradosun.com/2019/12/20/sports-betting-colorado-water-plan-analysis/”>interest in betting on table tennisu003c/a>, with $10.9 million in bets coming in for the sport last month.u003c/p>nnnnu003cdiv class=”wp-block-image”>u003cfigure class=”aligncenter is-resized”>u003ca href=”https://coloradosun.com/?nav=endcap”>u003cimg loading=”lazy” src=”https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2018/09/colorado_rising_sun.jpg” alt=”Rising Sun” class=”wp-image-1301″ width=”41″ height=”22″ srcset=”https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2018/09/colorado_rising_sun.jpg 680w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2018/09/colorado_rising_sun.jpg?resize=300,169 300w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2018/09/colorado_rising_sun.jpg?resize=85,48 85w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2018/09/colorado_rising_sun.jpg?resize=564,318 564w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2018/09/colorado_rising_sun.jpg?resize=615,347 615w, https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2018/09/colorado_rising_sun.jpg?resize=135,76 135w” sizes=”(max-width: 41px) 100vw, 41px” />u003c/a>u003c/figure>u003c/div>n u003cdiv id=”wp-irving-gtm-article-midpoint” style=”height: 1px; left: 0; margin: 0 auto; position: absolute; pointer-events: none; right: 0; top: 50%; width: 1px;” />u003c/div>”,”className”:”lede-common__article-content”,”style”:[],”themeName”:”articleContent”,”themeOptions”:[“default”]},”children”:[]}]},{“name”:”irving/container”,”_alias”:””,”config”:{“backgroundImageUrl”:””,”maxWidth”:””,”tag”:”div”,”className”:”article-meta article-meta–bottom”,”style”:[],”themeName”:”articleMeta”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/post-social-sharing”,”_alias”:”irving/social-sharing”,”config”:{“postId”:169634,”description”:”u003cp>Colorado voters’ gamble may have quickly paid off after all.  Sports betting got off to a hot start, meaning enough tax revenue has already been collected to start benefiting Colorado’s Water Plan projects. That’s despite projections from Gov. Jared Polis’ administration warning that the wagering would begin slowly and that money wouldn’t flow to water […]u003c/p>n”,”imageUrl”:”https://lede-admin.coloradosun.com/wp-content/uploads/sites/15/2020/12/owen-lystrup-_Ix2X5OWe7I-unsplash.jpg”,”platforms”:[“reddit”,”twitter”,”facebook”],”platformData”:{“comment”:{“iconTitle”:”Comment”,”shareUrl”:”#coral_thread”,”target”:”_self”}},”title”:”Colorado sports betting is popular enough to quickly benefit state water projects after all”,”url”:”https://coloradosun.com/2021/01/26/colorado-sports-betting-water-plan/”,”analytics”:{“share”:{“category”:”Engagement”,”action”:”Share”}},”className”:””,”style”:[],”themeName”:”pill”,”themeOptions”:[“default”]},”children”:[]}]}]},{“name”:”irving/fragment”,”_alias”:””,”config”:{“className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/container”,”_alias”:””,”config”:{“backgroundImageUrl”:””,”maxWidth”:””,”tag”:”div”,”className”:”article-footer”,”style”:[],”themeName”:”articleFooter”,”themeOptions”:[“default”]},”children”:[{“name”:”lede-common/post-byline”,”_alias”:””,”config”:{“postId”:169634,”singleDelimiter”:””,”multiDelimiter”:””,”lastDelimiter”:””,”preText”:””,”groupBylines”:false,”showAvatar”:true,”showBio”:true,”className”:””,”style”:[],”themeName”:”footer”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/fragment”,”_alias”:””,”config”:{“className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/fragment”,”_alias”:””,”config”:{“tag”:”div”,”className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/link”,”_alias”:””,”config”:{“href”:”https://coloradosun.com/author/jesse-paul/”,”fragment”:””,”rel”:””,”target”:””,”analytics”:{“click”:{“action”:”Author”,”category”:”Navigation”,”label”:”Author 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720-432-2229″,”html”:true,”oembed”:false,”tag”:”p”,”className”:”post-byline__short-bio”,”style”:[],”themeName”:”default”,”themeOptions”:[“default”,”unstyled”,”responsiveEmbed”,”html”,”caption”,”h1″,”h2″,”h3″,”h4″,”h5″,”h6″]},”children”:[]}]}]}]},{“name”:”lede-common/term-list”,”_alias”:”irving/container”,”config”:{“id”:”related_tags”,”tag”:”div”,”className”:””,”style”:[],”themeName”:”relatedTagsHorizontal”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/term-list”,”_alias”:”irving/fragment”,”config”:{“objectIds”:[169634],”className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/text”,”_alias”:””,”config”:{“content”:”Read More: “,”html”:false,”oembed”:false,”tag”:”h2″,”id”:”related_tags_title”,”className”:””,”style”:[],”themeName”:”termListHeading”,”themeOptions”:[“default”,”unstyled”,”responsiveEmbed”,”html”,”caption”,”h1″,”h2″,”h3″,”h4″,”h5″,”h6″]},”children”:[]},{“name”:”irving/container”,”_alias”:””,”config”:{“backgroundImageUrl”:””,”maxWidth”:””,”tag”:”ul”,”className”:”related-tags__inner-wrapper”,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/term-provider”,”_alias”:”irving/fragment”,”config”:{“termId”:648,”className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/container”,”_alias”:””,”config”:{“backgroundImageUrl”:””,”maxWidth”:””,”tag”:”li”,”className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/term-link”,”_alias”:”irving/link”,”config”:{“termId”:648,”href”:”https://coloradosun.com/tag/alec-garnett/”,”rel”:””,”target”:””,”className”:””,”style”:[],”themeName”:”default”,”themeOptions”:[“default”]},”children”:[{“name”:”irving/term-name”,”_alias”:”irving/text”,”config”:{“termId”:648,”tag”:”span”,”content”:”Alec 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