Bill in Colorado proposes prop bet ban, daily deposit limits

• Lawmakers in Colorado introduced a bill proposing changes to the state's betting rules
• The bill proposes the prohibition of prop bets, implementation of daily deposit limits and limiting push notifications
• One of the sponsors of the bill, Representative Dan Woog, speaks about the importance of the proposed legislation

After legalizing mobile and retail sports betting in 2019, Colorado launched its legal betting market on May 1, 2020.

Now, a proposal filed earlier this week seeks to implement changes to the betting regulations, banning prop bets and introducing a limit to the deposits each customer can make in a day.

The bill seeks to protect from harm and addiction

The proposal, Senate Bill 131 (SB131), is sponsored by Senators Matt Ball and Byron Pelton, as well as Representatives Steven Woodrow and Dan Woog.

The bill in question was introduced on Wednesday and referred to the House Finance Committee for consideration.

Ultimately, SB131 seeks to make several changes to the existing regulations.

Per the bill, licensed sports betting firms will not be permitted to accept more than five separate deposits from the same person in 24 hours.

In an effort to combat problem gambling, SB131 proposes limiting the "size and frequency of deposits or bets because an individual obtains a financial benefit as a result of placing the bet or due to the individual's betting activities, unless the betting activities constitute a suspicious betting activity or are indicative of a gambling disorder."

The newly proposed bill also seeks to prohibit the popular proposition bets, also known as prop bets, which focus on aspects of the game rather than the final score.

At the same time, SB131 proposes a prohibition on the use of credit cards for sports betting.

Another major change proposed by the bill involves mobile device push notifications.

Under SB131, betting operators won't be permitted to send text messages or push notifications to bettors, encouraging them to bet or deposit.

Additional sections of the bill focus on rules regarding advertising and the delivery of annual revenue data.

SB131 protects children and families across Colorado

Representative Dan Woog, who was recently interviewed by the Denver Gazette, spoke about the importance of the bill.

He explained his support for SB131, saying the proposed legislation seeks to "protect kids and families."

"We are seeing sports betting companies aggressively advertise on programs and platforms that children are watching, normalizing gambling at a young age and fueling addiction before kids have the capacity to understand the risks," Woog explained.

Last but not least, Woog highlighted the important role of legislators, who need to step in and take action against an industry that puts their kids' health and future at risk.

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