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Senate Bill 131, a Colorado bill that will impose new restrictions on sports betting in the state, is headed to Gov. Jared Polis’ desk for potential signing.
The bill, which supporters described as designed to eliminate abusive and predatory advertising practices by online gambling outlets, cleared the Senate on Friday.
SB 131 limits deposits, bans credit cards
The topline provision in SB 131 is its ban on using credit cards as a deposit source. It also limits bettors to just six deposits within any 24-hour period.
Violation of those items in the bill constitutes a Class 2 misdemeanor, punishable by up to 120 days in jail. Additionally, the Colorado Limited Gaming Control Commission can impose a fine up to $25,000 for each offense.
The legislation also clamps down on advertising tactics used by sports betting outlets, including eliminating push notifications that solicit bets and banning advertising on platforms where the majority of the audience is under the age of 21.
Advertisers are also prohibited from airing sports betting ads during any live sporting event, and between 8 a.m. and 10 p.m.
Prop bet ban removed from final bill text
The initial text of SB 131 included an elimination of prop bets in Colorado, but it was removed earlier in the legislative session for tax revenue purposes.
State Sen. Matt Ball, the final author of the bill, indicated that including a prop bet measure would have reduced the state’s gambling tax revenues by $1.6 million.
Polis now has 30 days to sign the bill into law, veto it, or take no action and the new legislation will automatically go into effect on Aug. 12.
