As Colorado moves closer to its goal of launching legal sportsbooks on May 1, a crucial step is finalizing regulations for the activity. Five sports betting working groups are active on that task right now.
Each group focuses on one of the state’s five main rules for legal sportsbooks. The people on those groups represent a variety of industry stakeholders.
Who is on the sports betting working groups in Colorado?
The first group, which focuses on general rules for sports betting, is the most populated by sportsbook operators. The 19 members include representatives from DraftKings, FanDuel, MGM, and William Hill.
The second group centers on compliance and has 17 members. Expertise in that area comes from GeoComply, several casino operators and Sportradar.
Technology is the thrust for the 17 members of the third group. Again, most of the members are representatives of casinos or sportsbooks.
Representatives from professional sports leagues appear in the fourth group. Among the 17 members concerned with integrity and information are Brian Gaffney of the Colorado Rockies and David Miller of the PGA Tour.
The group concerned with responsible gaming is the smallest, composed of just five members. That includes reps from the Problem Gambling Coalition of Colorado and the University of Denver.
While these groups are all working on a different part of the rules, their efforts work in concert. Each representative on these groups works for a company that has a stake in legal sports wagering in Colorado.
Why these organizations are represented in these groups
Other than potentially being part of the workings of legal sports betting in Colorado, these individuals and/or the organizations they represent have expertise in their designated areas. That’s why the Colorado Limited Gaming Control Commission chose them.
For example, GeoComply is the leading company used by online sportsbooks for geolocation services. Getting its input on how Colorado can best ensure bettors are actually physically located within the state when they place a bet is crucial.
While the PGA and the Rockies aren’t directly involved in sports betting yet, their business is affected by the activity. Including them in the process ensures they are cognizant of the risks to their personnel.
Including sportsbook operators in other states is a good move on several of the issues. They have a wealth of experience on what has and has not worked in other markets.
Because of that, Colorado can draw on their experience. Without that expertise, it’s more likely that the state might draft some inferior regulations.
Colorado wants to get input from absolutely everybody
The state is also looking for input from perhaps the most important party in this activity, potential bettors. The meetings for these groups are open to the public.
The state also has a live stream of the meetings for those unable to attend and accepts comments from citizens via email. Through these channels, even those who opposed the gambling expansion law last November can voice any concerns they still might have.
While there’s no guarantee that legal sports betting will be live in Colorado on May 1, these working groups have that date set as a goal. Whenever the first day ends up being, it will be the result of the labor of all these individuals.