Colorado Voters to Decide if Poker Betting Limits Should IncreaseCasinos and Community College Want Limits to Raise from $5 to $100 |
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A referendum will appear on Colorado ballots that, if passed, would increase maximum betting limits in the state’s cardrooms and casinos from $5 to $100. Currently, poker players playing in Colorado poker rooms have to abide by the extremely restrictive maximum betting limits that have applied to all casino games there for the last 17 years.
The initiative, Amendment 50, is sponsored by an industry-led group called Coloradans for Community Colleges, which, according to the Denver Post, has raised nearly $7 million to support the referendum. The group also counts Colorado’s community colleges as allies.
According to the state, the increase in betting limits would raise an extra $29 million a year for its community colleges the first year, if passed.
For some perspective on how much raising betting limits could aid a state, Florida recently changed its rules on betting limits. The law change there, solely decided by elected officials, essentially allowed the spread of competitive no-limit games, and the state has gained plenty from the decision.
Since the change went into effect in 2007 — which also lengthened the allowed hours of operation for the rooms — poker rooms in Florida have more than doubled their number of tables.
From 2006-2007, casino and cardroom revenue increased 379 percent in Florida, accounting for $274 million of its $1.9 billion revenue. During this same time, wagering at horse and dog tracks decreased 43 percent to $159 million.
Amendment 50 would also allow casinos to spread roulette and craps, in addition to the now-legal games of poker, slots, and blackjack. It will appear on November’s ballot.
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