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Can you summarize 44 CORS Article 30, Part 15?
COLORADO LIMITED GAMING ACT > SPORTS BETTING
Short Summary
The provided legal document content covers various aspects of sports betting in Colorado under the Colorado Limited Gaming Act. It includes definitions for key terms, provisions regarding licensing, eligibility requirements for placing bets, unlawful acts, penalties for violations, and the confidentiality of information and records related to sports betting. The document establishes the framework and regulations for sports betting operators, including requirements related to financial responsibility, trustworthy operation, and the display of licenses. It also outlines the eligibility requirements for placing bets and prohibits certain individuals from participating in sports betting activities. The document emphasizes the importance of cooperation between the division, sports governing bodies, and law enforcement agencies in sharing information and conducting investigations. Additionally, it imposes a tax on sports betting activity and establishes the sports betting fund to cover expenses related to sports betting regulation and provide support for gambling disorder prevention and treatment. Overall, these documents provide a comprehensive overview of the legal framework for sports betting in Colorado, including definitions, licensing requirements, eligibility, unlawful acts, penalties, and the confidentiality of information.
Whom does it apply to?
Sports betting operators, individuals involved in sports betting activities, sports governing bodies, and law enforcement agencies
What does it govern?
Definitions and provisions related to sports betting in Colorado, including key terms, licensing requirements, eligibility for placing bets, unlawful acts, and penalties for violations
What are exemptions?
Exemptions are provided for individuals with less than ten percent ownership interest in a casino or sports betting operation, as well as sports governing bodies or member teams whose sports betting operation prohibits wagering on the owner's team or players or the sports governing body's sports events.
What are the Penalties?
The penalties for violations of the Colorado Limited Gaming Act related to sports betting range from class 2 misdemeanors to class 6 felonies, with punishment as provided in the Colorado Revised Statutes.
Jurisdiction
Colorado