Colorado voters in November will go to the polls with a chance to quite literally wager on the future of the state by either approving or rejecting sports gambling in order to provide a reliable funding source for implementing Colorado’s Water Plan. The state plan finalized in 2015 identifies a wide range of water storage projects, conservation measures and drought resiliency programs in the state’s nine river basins. Its objective is to improve Colorado’s overall water situation in the face of an ever-growing population and dwindling water supplies due to climate change. “I would say it’s going to take a lot of different pieces to solve the problem that we know is coming, which is huge population growth that is not matched with where the water resources are,” said state Sen. Kerry Donovan, D-Vail, who sponsored the Senate version of House Bill 1327 to set up the framework for legalized sports gambling. Gov. Jared Polis signed the bill into law earlier this week, authorizing casinos in Blackhawk, Central City and Cripple Creek to open in-person sports books or contract with brick and mortar or Internet sports gambling operators in other states to provide sports betting across Colorado. If Proposition DD is approved by the voters, the state would then collect a 10 percent tax on net sports betting proceeds, and that money would go into the state’s Sports Betting Fund, which would then fund the Water Implementation Cash Fund to pay for Colorado’s Water Plan. To view the full article visit Real Vail.
