USFantasy begins offering sports wagering options in Colorado
November 24, 2016 7:37 AM
by Robert Mann
Las Vegas-based USFantasy has begun offering its sports wagering options beyond Nevada with the addition of four off-track betting sites across Colorado.
Colorado Gov. John Hickenlooper signed HB-1404 into law in June. The bill permits daily fantasy sports in the state at off-track betting locations. The bill, according to sponsors, was created to ensure regulation and licensing of the people who operate the games in Colorado.
USFantasy operates on the pari-mutuel model used in horse and dog racing. Players wager into pari-mutuel pools on individual players with a payout determined by how many players make the correct selection. A predetermined “take out” for expenses and fees is deducted before the payoffs are calculated.
Nevada-style wagering on professional sports in which a participant can pick a winning side or total remains illegal in Colorado.
Arapahoe Park in Aurora is Colorado’s only live horse track. It operates as an off-track betting site, when it is open for live racing. Live greyhound racing is no longer offered in Colorado.