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Can you summarize CORS 44-30-1503?
SPORTS BETTING > Licenses - rules.
Short Summary
This legal document governs the issuance, denial, suspension, revocation, and renewal of sports betting licenses in Colorado. The Colorado Limited Gaming Act empowers the commission to assess fines and penalties for violations of this part. The commission’s licensing rules include requirements related to the financial responsibility of the licensee, the licensee’s source of revenue for its sports betting operations, the character of the licensee, the trustworthy operation of the sports betting activity, and other matters necessary to protect the public interest and trust in sports betting. The commission’s rules also require licenses to be prominently displayed in areas visible to the public. A license may be revoked if the licensee has provided misleading information, been convicted of a felony or gambling-related offense, become a person inconsistent with the public interest and trust in sports betting, or intentionally refused to pay a prize or cash winnings to entitled recipients. Suspension, revocation, or non-renewal of a license may occur for delinquency in remitting money, failure to ensure trustworthy operation, or intentional violation of this part or any related rule. Certain individuals, firms, associations, or corporations are ineligible for a license, including those convicted of gambling-related offenses, professional gamblers or gambling promoters, those engaged in illegal gambling, those of bad character and reputation, those convicted of crimes involving misrepresentation, firms or corporations with individuals described in subsections (3)(b) to (3)(e) having a proprietary, equitable, or credit interest of ten percent or more, organizations with individuals described in subsections (3)(b) to (3)(e) being officers, directors, or managing agents, and organizations with individuals described in subsections (3)(b) to (3)(e) participating in the management or promotion of sports betting. Additionally, the commission may determine that persons convicted of felonies or crimes involving fraud, firms or corporations with individuals described in subsection (4)(a) having a proprietary, equitable, or credit interest of ten percent or more, organizations with individuals described in subsection (4)(a) being officers, directors, or managing agents, or organizations with individuals described in subsection (4)(a) participating in the management or promotion of sports betting are ineligible for a license. It is important to note that sports betting is not authorized unless approved by voters in the November 2019 statewide election.
Whom does it apply to?
Individuals, firms, associations, or corporations
What does it govern?
Sports betting licenses
What are exemptions?
Persons convicted of gambling-related offenses, professional gamblers or gambling promoters, persons engaged in illegal gambling, persons of bad character and reputation, persons convicted of crimes involving misrepresentation, firms or corporations with individuals described in subsections (3)(b) to (3)(e) having a proprietary, equitable, or credit interest of ten percent or more, organizations with individuals described in subsections (3)(b) to (3)(e) being officers, directors, or managing agents, organizations with individuals described in subsections (3)(b) to (3)(e) participating in the management or promotion of sports betting, persons convicted of felonies or crimes involving fraud, firms or corporations with individuals described in subsection (4)(a) having a proprietary, equitable, or credit interest of ten percent or more, organizations with individuals described in subsection (4)(a) being officers, directors, or managing agents, organizations with individuals described in subsection (4)(a) participating in the management or promotion of sports betting
What are the Penalties?
Fines, suspension, revocation, or non-renewal of license
Jurisdiction
Colorado