It was back in 1991 when Colorado first legalized casinos in three different towns. The three were Cripple Creek, Central City, and Black Hawk. These three towns are the host to several dozen gaming venues now.
An amendment was passed in 2008 by over 59% of Coloradoans, voting in support of an expansion in the casino realm. They were able to extend the hours of their venues and raise the maximum bet from $50 to $100, which is still in place as of today. Their current efforts to raise the numbers would add a lot of value to tourism, which has taken a large hit in 2020.
David Farahi, who is the CEO of Monarch Casino and Resort in Black Hawk, told CBS that a higher maximum might help bring in new customers who want more. “…If we can get some portion of those people to stay and play in Colorado, it benefits the whole state,” he said.
What’s Needed to Make It Happen
Obviously, for any new law to pass anywhere, a majority vote is going to need to be had. When they last made a change in 2008, 59% of the vote was in favor, with 41% being negative. That should bode well for them, given that casinos have become even more popular in the 12 years since.
In order for this to happen effectively, the minimum number of voters supporting the decision has to be 68,548. Any constitutional amendment requires a 55% supermajority in order to effectively pass and become official. There is no reason to believe that this would not be attainable. The state could really use the financial gain, and that will be at the forefront of the mind of every voter.
When the Voting Takes Place
The voting for the decision on whether or not an expansion from the $100 betting maximum would increase, is going to take place during the 2020 Presidential Election in November. And by having it there, you’ll be reaching the most amount of possible voters.
The casinos would also be allowed to offer new games, should this be positive. And among those games is the ever-popular baccarat, which has been only increasing in popularity. Adding new casino games and higher betting maximums is going to encourage the patrons to go bigger rather than going home.
You get so used to a norm with the number being the same for the last 12 years. There is an aura of excitement surrounding the potential change. Just as David Farahi said, a business should be able to get back to booming with the addition of new players.
Sports Betting
Sports betting has grown prominently over the years, and there are always new states legalizing it. Colorado joined in on the fun in March of 2019 by way of a ballot referendum. They permit not only in-person bets but mobile ones as well.
Given that they have several promising teams coming up in Denver, the timing could not be better. Local fans will be going crazy.
In Summation
The signs point towards an approved law in Colorado. More casino games. More money in. More everything.
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