HB 1327 Summary

• Submits a ballot measure to Colorado voters in November 2019 authorizing a 10% tax on net sports betting proceeds through licensed casinos, contingent on voter approval.

• Expands the Limited Gaming Control Commission's regulatory authority to include sports betting operations alongside existing limited gaming oversight, effective May 1, 2020 if approved by voters.

• Establishes the Sports Betting Fund to collect tax revenues and allocate funds for: regulatory expenses, hold-harmless payments to affected gaming entities and local jurisdictions, gambling addiction treatment ($130,000 annually), and remaining revenues to the Water Plan Implementation Cash Fund.

• Defines three classes of sports betting licenses (Master License, Sports Betting Operator, Internet Sports Betting Operator) with restrictions on betting locations (only in Central City, Black Hawk, and Cripple Creek casinos unless authorized by local voters), age requirements (21+), and prohibitions on certain events (high school sports, collegiate proposition bets, unlicensed video games).

• Includes conflict-of-interest provisions prohibiting athletes, coaches, referees, and sports governing body personnel from owning betting operations or wagering on their own sports events, with detailed record-keeping and integrity monitoring requirements.