Gaming Commission approves $33 million for Colorado water conservation efforts

Colorado Department of Revenue 

A document yr of sports activities betting in Colorado is translating into a significant funding within the state’s most significant useful resource: water. 

The Colorado Division of Gaming introduced that greater than $33 million in tax income has been accepted for distribution to the Colorado Water Conservation Board (CWCB) to help the state’s water plan.

The historic funding was a part of an over $35 million distribution licensed by the Colorado Limited Gaming Control Commission at its September assembly. 

In addition to the water funds, $1.74 million was directed to the Hold Harmless Fund. This fund fulfills a key promise of the unique sports activities betting laws by reimbursing present on line casino operations and their native governments for monetary impacts associated to the statewide enlargement of gaming.

“We are thrilled to announce this record-breaking year for sports betting distributions in Colorado,” stated Christopher Schroder, director of the Division of Gaming. “These funds are crucial for supporting critical water initiatives across our state. As we celebrate this success, we also remain deeply committed to promoting responsible gaming and ensuring that all participants can enjoy a safe and secure environment. We encourage anyone who may be struggling with problem gambling to utilize the resources available at BetSmart.Colorado.gov or by calling 1-800-GAMBLER.”

Of the overall, $33,498,236.24 was distributed to the CWCB. Annual sports activities betting tax income is used for water conservation and safety tasks, which give a framework for serving to Colorado meet its water challenges. These funds help the Water Plan Grant Program, administered by the CWCB, the state’s main water coverage company. 

The Colorado General Assembly nonetheless must acceptable the funds within the upcoming legislative session, and, as soon as appropriated, the fund can be accessible for grantmaking starting July 2026.

Water Plan Grants help the implementation of the Colorado Water Plan and fund vital tasks throughout Colorado. Projects are wide-ranging and impactful to the state, specializing in enhancing water infrastructure, restoring ecosystems, supporting training and neighborhood collaboration, boosting water conservation and effectivity, guiding resilient land use planning, and far more.

The CWCB lately awarded almost $25 million to 56 tasks to safe Colorado’s water future.

A whole breakdown might be discovered on web page 23 of the Colorado Limited Gaming Control Commission’s September assembly agenda. 

Total wagers in a yr document

Coloradans wagered a complete of $6,300,842,045 for the fiscal yr — nearly $287 million greater than the earlier document, which was set this previous fiscal yr. 

Additionally, this document quantity is a 130 % enhance from the primary full fiscal yr of sports activities betting in Colorado.

Total taxes collected in a yr document

Coloradans’ wagers resulted in a document $36,819,069.79 in complete taxes collected for the fiscal yr, surpassing the earlier excessive mark, set this previous fiscal yr, by nearly $6.4 million greater than the earlier document. 

The new document additionally represents a 354 % enhance in complete taxes in comparison with the primary fiscal yr of sports activities betting, fiscal yr 2020-2021.