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

The bill creates certain requirements and prohibitions related to sports betting.      Section 2 of the bill adds definitions a definition to the statutes regulating sports betting.      Section 3 makes changes to statutes regarding sports betting reporting to the division of gaming in the department of revenue (division) and prohibits a person licensed by the Colorado limited gaming control commission (commission) to operate an internet sports betting operation (internet sports betting operator) from:Accepting more than 5 6 separate deposits from an individual in a 24-hour period gaming day; or      Limiting the size and frequency of deposits or bets because an individual obtains a financial benefit as a result of placing the bet or due to the individual's betting activities, unless the betting activities constitute a suspicious betting activity or are indicative of a gambling disorder; orInitiating or sending mobile device push notifications or text messages to account holders in the state soliciting bets or deposits.      Section 4 prohibits a person from:      Including enhanced payout promotions or information on how to place a sports bet in an advertisement or promotion for a sports betting operation; or      Broadcasting an advertisement or promotion for a sports betting operation from 8 a.m. to 10 p.m. or during a live broadcast of an athletic competition.      Section 4 : also requires: A sports betting operator or internet sports betting operator to comply with certain requirements in contracting with and compensating a third party for marketing and advertising services; and Prohibits a sports betting operation or its marketing affiliate from targeting, or create 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; and An Requires an internet sports betting operator to provide to the division of gaming in the department of revenue data and metrics related to the operator's sports betting operation for the preceding calendar year. The division must comply with certain confidentiality requirements and compile the data into a public report every 3 years starting on January 1, 2029.      Section 5 prohibits an internet sports betting operator from offering or accepting a proposition bet or directly or indirectly accepting deposits using a credit card in connection with the acceptance of a sports bet ( prohibitions prohibition ). A violation of a the prohibition constitutes a class 2 misdemeanor.      Section 6 allows the commission to assess a maximum penalty of $25,000 against a violator of a the prohibition.      Section 7 requires that the amount of money annually transferred from the sports betting 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. to the extent the unexpended and unencumbered money in the sports betting fund permits.(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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