In May 2018 the US Supreme Court ruled that states may legalize sports betting. Colorado, which is always looking for a way to increase revenue in a manner palatable to its voters, saw this ruling as an opportunity. TABOR requires that the voters approve this tax which would be paid by casinos from gamblers' future legal sports bets.
Casinos are supportive of this tax because sports betting would provide them with a new source of revenue. Casinos would have to pay the current 0.25% federal excise tax and an additional Prop DD 10% tax, keeping almost 90% of their after-payout revenue.
Legal gamblers in Colorado currently have the following options:
1) in-person gambling in Cripple Creek, Black Hawk and Central City casinos with maximum bets set at $100
2) the state lottery
3) bingos and raffles conducted by nonprofits
4) horse and dog racing -- arguably a form of sports betting
Prop DD’s sports betting would have some restrictions including no betting on high school sports. On the other hand, casinos would for the first time be able to host platforms for online or mobile sports betting. The CO Division of Gaming and the CO Limited Gaming Control Commission would oversee the administration and enforcement of sports betting rules.
To increase palatability to voters, the General Assembly directs most of the tax revenue toward the underfunded 2015 Colorado Water Plan. However, most of the controversy around DD is targeted at the Water Plan. Opponents argue that the Water Plan’s “projects and commitments” are vague and opine that DD stands for Dam and Destroy. The CO Water Conservation Board (CWCB) oversees the Water Plan.
The anticipated $29M annual revenue gain is a “drop in the bucket” for the Water Plan The 2015 estimate for the Water Plan was about $20B (billion) and then two years later was doubled to $40B. https://www.coloradoindependent.com/2017/08/11/parched-colorado-water-plan-20-billion-40-billion-hickenlooper-cost/
Recommendation: No/Against
Vote yes if you want to allow and tax online sports betting and help fund the Water Plan, a “dynamic document” according to its website.
I’m generally in favor of sin taxes which may discourage harmful behaviors. I like that gambling in Colorado is limited to specific locations or a few horse or dog races. However, online sports betting would provide virtually unlimited opportunities for gambling and would probably lead to hidden gambling addictions. Nor does online betting seem likely to create many casino jobs. Although CO has been a pioneer in recreational marijuana sales, maybe we should let other states take up online betting before trying it ourselves.
Rigging a sports game (to lose) could be easy for an athletic participant. With legal betting, athletes and referees would likely feel an increased temptation. And can you ask for your bet money back if the NFL admits to a bad call which determines a game's outcome? See the Oct 14th game: Green Bay Packers 23 -- Detroit Lions 22.
Political ads supporting DD feature the Water Plan portion of Prop DD, but gambling interests are providing the vast majority of the funding for the campaign. Out-of-state interests Fanduel and DraftKings are the two biggest donors to date with $750K and $500K in political donations respectively.
House Bill 1327 has many regulatory details on the gambling side – on the sports betting operator license, on who may place a bet, and on investigations by sports governing bodies – but basically nothing on the Water Plan side.
If the Water Plan isn’t a good plan, underfunding the plan is an option. Another better option is changing the plan via lobbying the CWCB or getting appointed to the board.
Website for the Yes side – Yes on Proposition DD
https://yesondd.com/
Facebook page for the No side - Coloradans for Climate Justice
https://www.facebook.com/ColoradansForClimateJustice/
Approved Ballot Language
Proposition DD (STATUTORY)
Shall state taxes be increased by twenty-nine million dollars annually to fund state water projects and commitments and to pay for the regulation of sports betting through licensed casinos by authorizing a tax on sports betting of ten percent of net sports betting proceeds, and to impose the tax on persons licensed to conduct sports betting operations?
Yes/For ___
No/Against ___
HB19-1327 (37 pages) to refer Proposition DD to the voters
https://leg.colorado.gov/sites/default/files/2019a_1327_signed.pdf
Colorado Water Conservation Board’s website
http://cwcb.state.co.us/Pages/CWCBHome.aspx
Colorado’s Water Plan
https://www.colorado.gov/cowaterplan
Casinos are supportive of this tax because sports betting would provide them with a new source of revenue. Casinos would have to pay the current 0.25% federal excise tax and an additional Prop DD 10% tax, keeping almost 90% of their after-payout revenue.
Legal gamblers in Colorado currently have the following options:
1) in-person gambling in Cripple Creek, Black Hawk and Central City casinos with maximum bets set at $100
2) the state lottery
3) bingos and raffles conducted by nonprofits
4) horse and dog racing -- arguably a form of sports betting
Prop DD’s sports betting would have some restrictions including no betting on high school sports. On the other hand, casinos would for the first time be able to host platforms for online or mobile sports betting. The CO Division of Gaming and the CO Limited Gaming Control Commission would oversee the administration and enforcement of sports betting rules.
To increase palatability to voters, the General Assembly directs most of the tax revenue toward the underfunded 2015 Colorado Water Plan. However, most of the controversy around DD is targeted at the Water Plan. Opponents argue that the Water Plan’s “projects and commitments” are vague and opine that DD stands for Dam and Destroy. The CO Water Conservation Board (CWCB) oversees the Water Plan.
The anticipated $29M annual revenue gain is a “drop in the bucket” for the Water Plan The 2015 estimate for the Water Plan was about $20B (billion) and then two years later was doubled to $40B. https://www.coloradoindependent.com/2017/08/11/parched-colorado-water-plan-20-billion-40-billion-hickenlooper-cost/
Recommendation: No/Against
Vote yes if you want to allow and tax online sports betting and help fund the Water Plan, a “dynamic document” according to its website.
I’m generally in favor of sin taxes which may discourage harmful behaviors. I like that gambling in Colorado is limited to specific locations or a few horse or dog races. However, online sports betting would provide virtually unlimited opportunities for gambling and would probably lead to hidden gambling addictions. Nor does online betting seem likely to create many casino jobs. Although CO has been a pioneer in recreational marijuana sales, maybe we should let other states take up online betting before trying it ourselves.
Rigging a sports game (to lose) could be easy for an athletic participant. With legal betting, athletes and referees would likely feel an increased temptation. And can you ask for your bet money back if the NFL admits to a bad call which determines a game's outcome? See the Oct 14th game: Green Bay Packers 23 -- Detroit Lions 22.
Political ads supporting DD feature the Water Plan portion of Prop DD, but gambling interests are providing the vast majority of the funding for the campaign. Out-of-state interests Fanduel and DraftKings are the two biggest donors to date with $750K and $500K in political donations respectively.
House Bill 1327 has many regulatory details on the gambling side – on the sports betting operator license, on who may place a bet, and on investigations by sports governing bodies – but basically nothing on the Water Plan side.
If the Water Plan isn’t a good plan, underfunding the plan is an option. Another better option is changing the plan via lobbying the CWCB or getting appointed to the board.
Website for the Yes side – Yes on Proposition DD
https://yesondd.com/
Facebook page for the No side - Coloradans for Climate Justice
https://www.facebook.com/ColoradansForClimateJustice/
Approved Ballot Language
Proposition DD (STATUTORY)
Shall state taxes be increased by twenty-nine million dollars annually to fund state water projects and commitments and to pay for the regulation of sports betting through licensed casinos by authorizing a tax on sports betting of ten percent of net sports betting proceeds, and to impose the tax on persons licensed to conduct sports betting operations?
Yes/For ___
No/Against ___
HB19-1327 (37 pages) to refer Proposition DD to the voters
https://leg.colorado.gov/sites/default/files/2019a_1327_signed.pdf
Colorado Water Conservation Board’s website
http://cwcb.state.co.us/Pages/CWCBHome.aspx
Colorado’s Water Plan
https://www.colorado.gov/cowaterplan
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