Betting Limits In Colorado & South Dakota May Be Raised

• In 30 years, Colorado has received over $300 million in gambling revenue.
• If the state were to raise their betting limits, that number could be exponentially higher.
• Both Colorado and South Dakota are in discussion about raising the wagering maximums in the future.

DENVER – Betting limits implemented by Colorado and South Dakota may be raised if not erased altogether if new proposals come to pass. When casino games were first approved in Colorado, the limit for bets was a small $5 each.

Twelve years ago, residents voted to allow wager maximums of $100 per wager. Now, gambling proposals are the subject of conversation for betting maximums in both states.

The Commonalities Between Colorado And South Dakota

Both Colorado and South Dakota are the only two states in the nation that have limits to the amount of money a gambler can put on a single bet. South Dakota’s gaming city of Deadwood has a maximum for bets where no more than $1000 can be gambled on one bet.

While that’s a set limit, it’s still ten times the amount allowed by the Centennial State.

"If local voters choose to approve new games and betting limits, mountain casinos could attract higher-income Coloradans who would typically travel to other states to gamble, as well as out-of-state, high-stakes bettors visiting Aspen or Vail," said Karen Crummy, a spokesperson for Initiative 257.

As with anything in Colorado regarding gaming, Initiative 257 will be put on the 2020 ballot should it receive 125,000 signatures by the August deadline. The initiative only covers three towns in Colorado: Black Hawk, Cripple Creek, and Central City.

Any raise to betting limits in South Dakota would only cover the town of Deadwood where gambling takes place.

Sports betting in Colorado was just made legal in November 2019 by their voters. South Dakota is on the cusp of legalizing gambling on sporting events as well.

The two states continue to remain in sync with each other when it comes to gambling markets. If the initiative in Colorado gets more than 50% of the votes, the three towns will either have a higher betting limit or no limit at all beginning in May 2021.

South Dakota would also see higher limits on wagers in 2021 if any proposal made in the Mount Rushmore State goes through.