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Colorado Looking into Online Gambling Legislation

Colorado Looking into Online Gambling Legislation

There is a chance that Colorado may become the next US state to legalize online gambling. While last year’s bill to legalize online gambling failed, executives in the state are keeping a close watch on how online gambling is working in other states with the view to try again next year.

Colorado Looking into Online Gambling Legislation

Legislators in the state of Colorado are looking into making online gambling legal and are hoping to pass a bill as early as next year.

Industry experts have estimated that online poker in Colorado could generate around $30-$38 million a year. However, the money would only be useful as long as it didn’t subtract from play in land-based casinos.

Colorado’s Gaming Association executive director Lois Rice said, “We had talked very late in last year’s session with some legislators who were interested in pursuing it. We’re still exploring it.”

Last summer the Black Hawk casino in Colorado commissioned a survey to find out if residents actually want online gambling.

Surprisingly, the casino’s manager, Jack Lewis, said, “Our survey showed that the voters of the state did not have much appetite for online gambling.”

Nonetheless, it is highly likely that lawmakers will address the issue again next year. State Representative Kevin Priola has said that it’s important to start as soon as possible as he believes “there are only going to be a few states that are going to have enough scale to make it work.”

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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