Local News

Colorado Audit: More Regulation Of Sports Betting Needed

/ CBS Colorado

DENVER (AP) - A Colorado state audit has found that regulators failed to perform exhaustive background checks on 35 sports betting operators currently operating under temporary licenses. It also found discrepancies between some operators' reports of wagers and their tax filings on those wagers, possibly costing the state tax revenue.

(credit: CBS)

The audit released this week covers the first full year of legalized sports betting in Colorado, which was approved by voters in 2019.

Auditors recommended that regulators complete a regulatory framework for their investigations of operators and improve monitoring of the industry's reported income and tax payments. The division agreed to all the recommendations.

(© Copyright 2022 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

First published on June 15, 2022 / 11:02 PM MDT

© 2022 CBS Broadcasting Inc. All Rights Reserved.

Read more
f

We and our partners use cookies to understand how you use our site, improve your experience and serve you personalized content and advertising. Read about how we use cookies in our cookie policy and how you can control them by clicking Manage Settings. By continuing to use this site, you accept these cookies.