Colorado Lawmakers Vote to Remove $100 Wagering Cap from May
Punters in Colorado finally have a reason to rejoice as legislators voted to remove the $100 wagering limit across the state. Thus, legalizing unlimited single bet wagering at the casino. The Coloradans had passed Amendment 77 in November, a ballot initiative allowing local lawmakers to decide whether to raise the maximum betting limit.
The Black Hawk City Council was the first to vote in favor of removing the cap on December 1, followed by the councilmen from Cripple Creek and Central City, the two other regions with physical casinos in the state.
Apart from removing the wagering limitations, the lawmakers also allowed new games to be hosted like Pai Gow poker, 11 versions of baccarat, 3 keno variants, big 6-wheel, roulette, and a range of other table games. And both the new games and the wagering limitations will go live from May.
Poker players have a lot to look forward to, as the change means that no-limit Hold’em cash games will finally be accessible in Colorado. Punters were only allowed to offer spread-limit Hold’em poker games and were not allowed to raise or bet over $100 to stay compliant with the regulations.
What Do the Amendments Entail?
The recent amendments ensure poker enthusiasts will be able to wager freely without worrying about a maximum limit. Experts believe the new move could spark a poker revolution in the state, similar to what was observed in Florida after the rules were amended in 2010.
Even if a poker boom is imminent, it won’t create much of a difference for local casino owners. According to Sean Demeule, the General Manager at Ameristar Casino in Black Hawk, overall gambling revenue likely won’t be impacted in any significant manner.
“This is hardly a gamechanger for us”, Demeule explained. “And when I say it’s not a gamechanger, I mean I don’t expect the revenue to grow into hundreds of millions of dollars and create any significant impact. It might just allow us to gain parity with some of the neighboring states”. Colorado is home to 33 registered brick-and-mortar casinos. As of 2019, the properties generated $833.6 million in total.
A Word from the Experts
As Colorado reels under the effects of COVID-19, gaming halls continue to serve patrons albeit government-approved mandates. According to Baxter Lee, the General Manager of Bronco Billy’s Casino & Hotel, and Matt Andrighetti, the General Manager of Wildwood Casino in Cripple Creek, both properties are preparing to implement the new rules from May 1.
“We are thrilled with the new developments and look forward to expanding our gaming portfolio and wagering limits as per the new amendments,” Lee explained. “The laws are transformational, and we can finally offer a Vegas-like experience in Colorado. Right now, I just hope it won’t be long before we can offer our expansive table games to customers”.
“It’ a major win for Cripple Creek and will help advance the gaming industry in the state. While it will bolster Cripple Creek’s reputation as a gambling hub, it’s far from a Messiah of changes”, Andrighetti added.