No Limit Poker in Colorado Casinos?
Legislation was introduced on Monday that would finally get rid of the $5 cap bet in Colorado Casinos in the cities of Blackhawk, Central City, and Cripple Creek (the three cities that have casinos). The current $5 cap means that a single bet cannot exceed $5 in the games allowed at Colorado Casinos, primarily Poker and Blackjack. Currently the highest stake poker game that can be played in Colorado is $2/$5 Limit Hold Em with 3x re-raises in any betting round. Most poker players compare playing poker in Colorado to “playing bingo” because you are unable to bet enough to stop someone from chasing a drawing hand to the river. Increasing the betting limit, or removing it all together, would allow for No Limit and Pot Limit Poker in Colorado Casinos and have a significant impact on revenues and taxes derived from casinos in Colorado.
The recent Casino Smoking Ban in Colorado that went into effect in January has had a significant impact on state gaming revenue, with a drop of 15% recorded in March. Needless to say, Colorado casionos are hurting and need a way to attract more customers. The state is losing out on much needed tax revenue. Something has to give. The press release is below:
TUPA SEES YOUR $5, RAISES YOU
DENVER—On Friday Senator Ron Tupa (D-Boulder) introduced SCR08-08, which would eliminate the $5 betting cap in Colorado’s casinos.
The measure is a proposed constitutional amendment and requires a 2/3 supermajority in both the Senate and the House before going before Colorado voters in November.
“The public mood has really changed in the last twenty years toward gaming revenues as a way to pay for state services,” said Tupa. “The projected revenues for the first year alone are $40-50 million. That’s money that could go to pay for things like roads, bridges, public safety and other critical services. I think it’s time the people of Colorado had a say on this issue.”
