Colorado Sports Betting Tax. Proposition dd narrowly passed with a 50.73% yes vote in november 2019. Sports betting made its colorado debut on may 1 in the midst of the coronavirus pandemic, which effectively shuttered sports around the world.
6 percent going to the hold harmless fund, which will refund businesses and communities that might lose revenue due to the sports betting legalization (for example casinos, horse racing, cities, community colleges, and the state historical fund); The tax revenue is earmarked for $130,000 going to gambling addiction services; A look at colorado’s sports betting tax.
A look at colorado’s sports betting tax.
6 percent going to the hold harmless fund, which will refund businesses and communities that might lose revenue due to the sports betting legalization (for example casinos, horse racing, cities, community colleges, and the state historical fund); Sports betting made its colorado debut on may 1 in the midst of the coronavirus pandemic, which effectively shuttered sports around the world. Colorado’s tax rate is 10% of gross gaming revenue (ggr), meaning 10 cents of every dollar made by casinos and sportsbooks go to the state. Since then, colorado sports betting has continued to grow.