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Colorado’s sports betting landscape is facing a change. Four state legislators recently introduced a bold new proposal called the Sports Betting Protections Act. This bill, known as SB26-131, aims to scrub “prop bets” from every online sportsbook in the state.
If it passes, the way you watch the Nuggets or the Broncos will change forever.
What Exactly Is a Prop Bet?
Most gamblers bet on who wins the game. However, a “proposition bet” focuses on the tiny details. You might wager on how many points a star player scores. Perhaps you bet on the speed of a specific pitch.
The bill defines these bets as wagers on specific acts or statistics. They do not depend on the final score. Currently, these wagers make up a huge portion of sportsbook revenue.
Safekeeping the Integrity of the Game
Why do lawmakers want to kill these popular bets? The answer involves safety and honesty. Individual players can easily manipulate their own stats. A player might intentionally miss a shot to help a gambler win. This creates a dangerous environment for everyone involved.
We have already seen the fallout. The NBA banned Jontay Porter for life after he faked injuries to manipulate bets. Meanwhile, two MLB pitchers currently face federal charges for throwing slower pitches on purpose. Furthermore, fans often harass athletes when they fail to hit a statistical milestone. Consequently, lawmakers believe banning these bets will protect players from threats and bribes.
Cutting the Cord on Aggressive Marketing
This bill does not stop at banning prop bets. It also targets how sportsbooks hunt for new customers. Under the new rules, sportsbooks cannot accept more than 5 deposits from a single person within 24 hours. Additionally, gamblers can no longer use credit cards to fund their accounts. This move aims to prevent people from betting money they do not actually have. The bill also imposes restrictions on advertisements. In detail, it will prohibit gambling ads from 8 a.m. to 10 p.m. You also won’t see these advertisements during live sports events. Lawmakers want to shield children and vulnerable people from constant gambling triggers.
A Win for the Successful Gambler
Surprisingly, the bill includes a “Player’s Bill of Rights.” Currently, many sportsbooks ban or limit users who win too often. Companies prefer customers who consistently lose money. SB26-131 would stop this practice. Sportsbooks could only restrict a user for suspicious activity or signs of addiction. They cannot punish you just because you are good at picking winners.
The Road Ahead
The 15 states that have regulated or outlawed prop betting now include Colorado. The law has a good probability of passing because of its widespread backing. Sportsbooks will likely fight these changes. They stand to lose significant profits. Nevertheless, the sponsors believe the integrity of sports is worth more than the betting handle.
Source: Colorado General Assembly
