Colorado’s new law, HB 1311, has dropped a bomb on sportsbooks by eliminating promotional tax deductions, which means operators are in for a big tax hike! Now, part of that extra cash will be funnelled into Colorado’s Water Plan Implementation Cash Fund. This could mean up to $12.9 million in funding for 2027!
Key Points
- HB 1311 abolishes tax deductions for sportsbook promotions in Colorado.
- Starting 2026, sportsbooks can only deduct 1% of all wagers, phasing out completely by July of the same year.
- The extra taxes generated will support Colorado’s water infrastructure projects.
- Experts predict an additional revenue boost of up to $3.2 million in 2026 for state initiatives.
- This change may lead sportsbooks to cut back on promotional offers to remain competitive.
Why should I read this?
If you’re into sports betting or just follow industry trends, you’ll want to know how this law could reshape the landscape for sportsbooks in Colorado. As operators adjust, the whole promo game is about to shift, which could impact your betting experience. Don’t miss out on how this might affect your next wager!
