P
layers in Black Hawk, Central City, and Cripple Creek could be able to place bets of more than $100, the current cap, if Colorado voters say “yes” to Initiative 257.
Last week, proponents Local Choice Colorado turned in 214,000 signatures on the petition to put Initiative 257, which would allow locals in the state’s gambling towns to vote on raising the state’s $100 betting limit or adding more games, such as Keno.
The state requires only 124,632 signatures from registered voters, but the group got more than needed, according to Colorado Politics.
An increase in betting limits would correlate with an increase in revenue. The initiative proposes that the increased tax collection go to support local community colleges.
The initiative garnered support from two state politicians. Bruce Brown, a former Mayor of Cripple Creek and former Colorado Senate President Bill Cadman both threw their support behind the initiative. Cripple Creek, Black Hawk and Centennial City are the three towns that house the majority of the state’s 33 casinos.
“We’ve built most of our economies around hotels, restaurants, tourism, and travelers who visit because of gaming,” said Brown in a recent interview with Colorado Politics. “Voters in our communities should be allowed to decide what is best for them and their economy, including whether they want to change betting limits and add new games.”
Cadman said it’s “a win-win for businesses and employees in these small towns, as well the community colleges that will receive more tax money.”
The initiative won’t change existing state rules but would instead allow local residents to make the decision themselves.
More games and bigger games would make the state’s gambling destinations more competitive with those in other states.
Paul Harris, Cripple Creek’s interim city manager, commented on the issue: “At this time, the Cripple Creek City Council has not decided what the betting limit amount would be for our community.”
Of 23 states with legalized gambling, Colorado is one of only two states to limit bets. The other is Deadwood, S.D., where the limit is $1,000.