The Colorado bill that would ban the use of credit cards to fund gaming accounts, prohibit push notifications, increase the number of daily deposits, and explicitly ban ads that target those who are underage passed out of the House, 50-13, on Saturday. The state legislature is set to adjourn Wednesday, and the bill is nearly ready to go to Gov. Jared Polis for signature.
Should the bill get to Polis’ desk before adjournment, he’ll have 10 days to act on it. If it reaches his desk after adjournment, he’ll have 30 days. In either case, Polis could sign or veto the bill, or take no action and allow the bill to become law without his signature.
SB 26-131 started its journey with a longer list of restrictions, including a ban on prop bets, but was modified in both chambers. Should the bill pass, Colorado would become the second state to ban credit card funding this session. Virginia lawmakers last month approved a credit card prohibition that goes into effect July 1.
Number of daily deposits would go up
Other key changes in the final version of the bill:
- The number of allowed deposits per a “gaming day” would be increased from five to six. The phrase “gaming day” is defined as a “continuous 24-hour period.” There is no monetary cap on deposits in the bill.
- Push notifications, including “alerts,” may not be sent to “account holders in the state relating to the solicitation of bets or deposits from the internet sports betting operator’s internet sports betting platform.”
- Operator or affiliate advertisements on “broadcast, cable, radio, print, and digital communications” where the majority of the audience is expected to be under the age of 21 will be banned. The proposal does not include “public venues where the demographics of attendees cannot be determined.”
Lawmakers also slightly modified the text of the bill with relation to sports governing bodies requesting to have certain wagering markets banned. Under the new language, the amount of money that must be transferred to the state’s water plan fund must not be less than the previous year, if that money is available.
The new law would go into effect 90 days after adjournment, meaning that if the legislature adjourns Wednesday and the bill becomes law, it would be enforceable Aug. 12.
