The bill creates certain requirements and prohibitions related to sports betting.
     
Section 2
of the bill adds
definitions

a definition
to the statutes regulating sports betting.
     
Section 3

makes changes to statutes regarding sports betting reporting to the division of gaming in the department of revenue (division) and
prohibits a person licensed by the Colorado limited gaming control commission (commission) to operate an internet sports betting operation (internet sports betting operator) from:
Accepting more than
5

6
separate deposits from an individual in a
24-hour period

gaming day; or
     
Limiting the size and frequency of deposits or bets because an individual obtains a financial benefit as a result of placing the bet or due to the individual's betting activities, unless the betting activities constitute a suspicious betting activity or are indicative of a gambling disorder; or
Initiating or sending mobile device push notifications or text messages to account holders in the state soliciting bets or deposits.
     
Section 4

prohibits a person from:
     
Including enhanced payout promotions or information on how to place a sports bet in an advertisement or promotion for a sports betting operation; or
     
Broadcasting an advertisement or promotion for a sports betting operation from 8 a.m. to 10 p.m. or during a live broadcast of an athletic competition.
     
Section 4
:
also requires:

A sports betting operator or internet sports betting operator to comply with certain requirements in contracting with and compensating a third party for marketing and advertising services; and

Prohibits a sports betting operation or its marketing affiliate from targeting, or create advertising content that is clearly meant for, persons under 21 years old or from advertising on media for which the majority of the demographic audience is reasonably expected to be under 21 years old; and

An

Requires an
internet sports betting operator to provide to the division
of gaming in the department of revenue
data and metrics related to the operator's sports betting operation for the preceding calendar year. The division must comply with certain confidentiality requirements and compile the data into a public report every 3 years starting on January 1, 2029.
     
Section 5
prohibits an internet sports betting operator from
offering or accepting a proposition bet or
directly or indirectly accepting deposits using a credit card in connection with the acceptance of a sports bet (
prohibitions

prohibition
). A violation of
a

the
prohibition constitutes a class 2 misdemeanor.
     
Section 6
allows the commission to assess a maximum penalty of $25,000 against a violator of
a

the
prohibition.
     
Section 7
requires that the amount of money annually transferred from the sports betting fund to the water plan implementation cash fund is no less than the amount transferred to the water plan implementation cash fund in the previous state fiscal year.
to the extent the unexpended and unencumbered money in the sports betting fund permits.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)