Colorado’s gaming governing body, the Limited Gaming Control Commission, approved rule changes earlier this month that permit fixed-odds horse wagering in the state.

In a vote on Nov. 16, the LGCC unanimously supported changes to its rules to allow licensed sports betting operators to offer fixed odds on horse racing. This brings to an end a long effort by proponents of horse racing in the state, dating back to 2018 when the U.S. Supreme Court made a landmark ruling that cleared the way for states to expand gaming offerings. Colorado joins New Jersey as the only states to allow fixed-odds betting on horse races.

Several Colorado Sports Betting operators, including Bally Bet Colorado, had Expressed Their Support Of The Rules Change In Letters To The LGCC.

The state had language in its regulations, under section Rule 5, that Permitted A Trial Period For Fixed-Odds Since 2022. However, that language was set to expire in late November 2023. That rule allowed sports betting licensees to request permission to offer fixed-odds on horse races. However, Colorado has outlawed dog racing.

The new rule, approved on Nov. 16, will expire in 24 months. It’s believed that some sports betting licensees will petition to offer fixed-odds on horse racing in the future in Colorado.

In its letter of support to the LGCC, Bally’s, which owns and operates four gaming facilities in Colorado including Black Hawk West Casino, asserts that "the ability to offer a fixed-odds horse racing product in Colorado will allow Bally’s and the horse racing industry to capture a new and broader audience.” The letter goes on to predict an increase in purse sizes, which could "add to Colorado’s tax revenue stream.”

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