Colorado Regulators Discuss Legalizing the Online Casino Industry
Online gambling in the US is starting to appeal to more and more state leaders. The fact that New Jersey, Nevada and Delaware already legalized online casinos is making neighboring state lawmakers to wonder if it would be best for other American states to create regulatory frameworks that would legalize the industry. Luckily for operators who want to create an online casino in the US, the time for other states to join in is now, and even if a federal law has not been submitted yet, regulators from states like Colorado expressed their interest in creating more jobs and generating more resources for the state coffers by legalizing online casinos.
The Colorado Gaming Association already had an attempt to draft a bill in 2012, bill which would have been similar to the one submitted by New Jersey. Up to now, state regulators have not managed to submit any bill to pave the way for operators looking to create an online casino in the US state of Colorado, especially because of the fact that lawmakers decided to prioritize other bills and did not find the right time to consider passing this one. Even so, insiders are saying that lawmakers are not going to give up on this idea, so a new draft bill is expected to be seen in the near future.
Lois Rice, executive director of the Colorado Gaming Association, explained in a press release that the legislators are still intending to pursue this law and they are still exploring the possibility of legalizing internet casinos in the state. Rice also explained that this bill has been discussed last year and there are several lawmakers who plan to join in and contribute to its development. At this point in time, several regulators are also worried about how operators who will create an online casino in the US could affect the land-based gambling industry in Colorado. Analysts explained that the estimated figures generated by online casinos could reach $37.8 million, while land-based casinos generate an approximate $760 million in gross gaming revenues. This means that the two businesses could easily complement each other without any damages to neither of the industries.
Despite the fact that lawmakers are still just discussing the possibility of submitting an internet gaming bill, there are a lot of signs that such a bill will be drafted and passed sometimes in 2014. With all these discussions going on, the US could see many other states legalizing the online casino industry by next year, when more entrepreneurs will have the possibility to create an online casino in the US.
The first step towards starting an online casino which operates with real money is obtaining an online casino license. The products that we sell might require a casino/gambling license depending on the jurisdiction in which...