SB 26-131

Senate Bill 26-131, also known as Sports Betting Protections, sets rules for sports betting in Colorado. It limits how often and how much individuals can deposit or bet within a day, bans certain types of promotions and advertisements during specific times, and requires operators to report data annually about their operations while protecting the privacy of this information. The bill also prohibits betting with credit cards and targeting ads at people under 21 years old. Since it has been signed into law, these rules are now in effect for sports betting companies operating in Colorado.

Official Summary

Section 2 of the act prohibits a person that is licensed by the Colorado limited gaming control commission (commission) to operate an internet sports betting operation (internet sports betting operator) from:Accepting more than 6 separate deposits from an individual in a gaming day; orInitiating or sending mobile device push notifications or text messages to account holders in the state soliciting bets or deposits.     Section 3:Prohibits a sports betting operation or its marketing affiliate from targeting, or creating advertising content that is clearly meant for, persons under 21 years old or from advertising on media for which the majority of the demographic audience is reasonably expected to be under 21 years old; andRequires an internet sports betting operator, on an annual basis, to provide to the division of gaming in the department of revenue (division) data and metrics related to the operator's sports betting operation for the preceding calendar year. The division must compile the data into a public report every 3 years starting on January 1, 2029.     Section 4 prohibits an internet sports betting operator from accepting deposits using a credit card in connection with the acceptance of a sports bet (prohibition). A violation of the prohibition constitutes a class 2 misdemeanor.     Section 5 allows the commission to assess a maximum penalty of $25,000 against a violator of the prohibition.     Section 6 requires that the amount of money annually transferred from the sports betting fund (fund) to the water plan implementation cash fund is no less than the amount transferred to the water plan implementation cash fund in the previous state fiscal year.     $124,623 is appropriated from the legal services cash fund to the department of law to provide legal services to the department of revenue in implementing the act. The appropriation is from revenue received from the department of revenue that is continuously appropriated to the department of revenue from the fund.(Note: This summary applies to this bill as enacted.)

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