5280 Magazine

The Payout

1 SPORTS GAMBLING WILL BE A CASH COW FOR THE STATE.

The Verdict: Mostly false

State Representative Alec Garnett, the measure’s main sponsor, estimates tax revenue from legalized sports gambling will total $10 million to $12 million in.) Even that might be rosy considering Pennsylvania, a state with double Colorado’s population and a 34 percent tax on sports betting (the Centennial State’s would be 10 percent), has made just $8 million since opening sports gambling facilities in November 2018.

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