Good Morning, Colorado, and welcome to the Daily Sun-Up. It’s Thursday October 29th, and we’re feeling lucky to start the day with you. Every week day we’re taking a closer look at one of our top stories. And later, we’re excited to share insight from one of our readers on what they’ve learned while living through a global pandemic in Colorado. 

 

Today our focus is on Colorado’s legalized sports betting.

 

Today’s podcast is brought to you by IndieGetUp. If you want a chance to win $2200 worth of impeccable outdoor gear, then check out the Born in Colorado Giveaway curated by IndieGetUp, Colorado’s number-one sustainable men’s fashion marketplace. 

 

To enter, go to indiegetup.com/giveaway and follow the prompt to win, also check out indiegetup.com for your men’s sustainable fashion needs.

 

But before we begin, let’s go back in time with some Colorado history adapted from historian Derek R Everett’s book “Colorado Day by Day”

Today, we take you back to October 29th, 1860 when Priests Joseph P Machebeuf and John B Raverdy arrived in Denver Colorado, assigned to tend to Catholics during the Pikes Peak Gold rush. They set to work erecting a church that stood ready to receive parishioners for Christmas services later that year.

Maybe a longer pause than usual here

 

Now, our feature story. 

 

By now we’ve all seen - considering it’s been virtually nonstop on TV in between the onslaughts of political advertising - that online sportsbooks are offering essentially free money to bet on their sites. Or are offering ridiculous proposition bets that make you a winner in an NFL game if either team scores a touchdown. 

 

Maybe you’ve even downloaded an app yourself and made some easy money. If you have, that means you contributed to the more than $207 million legally wagered in September on sports in Colorado. Aside from your winnings, you might also feel good that all that money is contributing to the tax revenue that soon will fund Colorado’s much-needed water projects.

 

But unfortunately, it’s not that simple. Colorado Sun reporter Kevin Simpson is joining today to explain why.

So Kevin, legalized sports betting has had an unusual rollout in Colorado, hasn't it?

And what was disconcerting about the numbers? 

So how do these industry experts make sense of this? 

Interesting, will that prompt any changes?

Thank you so much for joining us Kevin.

We do know that projecting tax revenues on sports betting has been difficult, and some early guesses proved to be high.

 

State Rep. Alec Garnett, a Denver Democrat who backed the bill that legalized sports betting last year, said the declining tax revenue numbers amid the rising handle are [quote] “worthy of a conversation about what’s driving the spread in different directions.”

 

But between the mechanics of a new market and the coronavirus pandemic that threw the sports schedule into disarray, the statewide performance of sportsbooks could be “a couple years out” from predicting the ebbs and flows of money coming into the state.

 

Some industry experts point out the simple truth - that great taxable revenue receipts essentially would mean a lot of Coloradans lost bets. For the long term, that could hinder the industry’s growth by discouraging those testing the waters. By forgoing some tax revenue in the short term, allowing for the big promotional push, Colorado boosts its chances of nurturing a mature business and capitalizing on future tax money. 

 

For the moment, they claim, Colorado simply suffers from a small sample size.

 

Before we go, and now that we’re months into dealing with the impacts of the coronavirus, we’rebringing you insight from one of our readers on how the experience has changed their lives, and what they’ve learned along the way. This is part of our “Write On, Colorado” initiative.

 

To browse through more than 150 personal essays and poems like this, or to submit your own, go to Colorado Sun dot com slash writeon.

 

Finally, here are a few stories you should know about today:

 

As federal land managers consider opening trails to electric bicycles, conversations about new opportunities for access to public lands mixes with concerns about impacts to wildlife and traditional non-motorized travelers.  

-

An analysis shows that mail ballot rejections in the 2020 election remain below average, but are expected to rise and disproportionately affect younger voters.

-

In lieu of federal action, Colorado will send one-time $375 stimulus payments to 435,000 people

-

As of Wednesday, the Cameron Peak fire in northern Colorado had destroyed 442 buildings and damaged another eight

-

Slopes opened on Wednesday at Wolf Creek Ski Area with three lifts running through Sunday.

 

For more information on all of these stories, visit our website, www.coloradosun.com. 

And don’t forget to check out the Born in Colorado Giveaway curated by IndieGetUp, Colorado’s number-one sustainable men’s fashion marketplace, for a chance to win $2200 worth of outdoor gear! Featuring Folsom Skis, Strafe Outerwear, Lems Shoes, D-Curve Optics, Point 6 socks, Arcanum CBD-infused tape, Ripton & Company, and Elsewhere Candle Company.

 

The IndieGetUp giveaway is the perfect way to explore the outdoors with premium gear.

 

Again, go to indiegetup.com/giveaway and follow the prompt to win, also check out indiegetup.com for all of your men’s sustainable fashion needs.

 

The Colorado Sun is non-partisan and completely independent. We're always dedicated to telling the in-depth stories we need today more than ever. And The Sun is supported by readers and listeners like you.

 

Right now, you can head to ColoradoSun.com and become a member. Starting at $5 per month for a basic membership and if you bump it up to $20 per month, you’ll get access to our exclusive politics and outdoors newsletters. Thanks for starting your morning with us and don’t forget to tune in again tomorrow.

 

See omnystudio.com/listener for privacy information.

Good Morning, Colorado, and welcome to the Daily Sun-Up. It&rsquo;s Thursday October 29th, and we&rsquo;re feeling lucky to start the day with you. Every week day we&rsquo;re taking a closer look at one of our top stories. And later, we&rsquo;re excited to share insight from one of our readers on what they&rsquo;ve learned while living through a global pandemic in Colorado.&nbsp;
&nbsp;
Today our focus is on Colorado&rsquo;s legalized sports betting.
&nbsp;
Today&rsquo;s podcast is brought to you by IndieGetUp. If you want a chance to win $2200 worth of impeccable outdoor gear, then check out the Born in Colorado Giveaway curated by IndieGetUp, Colorado&rsquo;s number-one sustainable men&rsquo;s fashion marketplace.&nbsp;
&nbsp;
To enter, go to indiegetup.com/giveaway and follow the prompt to win, also check out indiegetup.com for your men&rsquo;s sustainable fashion needs.
&nbsp;
But before we begin, let&rsquo;s go back in time with some Colorado history adapted from historian Derek R Everett&rsquo;s book &ldquo;Colorado Day by Day&rdquo;
Today, we take you back to October 29th, 1860 when Priests Joseph P Machebeuf and John B Raverdy arrived in Denver Colorado, assigned to tend to Catholics during the Pikes Peak Gold rush. They set to work erecting a church that stood ready to receive parishioners for Christmas services later that year.
Maybe a longer pause than usual here
&nbsp;
Now, our feature story.&nbsp;
&nbsp;
By now we&rsquo;ve all seen - considering it&rsquo;s been virtually nonstop on TV in between the onslaughts of political advertising - that online sportsbooks are offering essentially free money to bet on their sites. Or are offering ridiculous proposition bets that make you a winner in an NFL game if either team scores a touchdown.&nbsp;
&nbsp;
Maybe you&rsquo;ve even downloaded an app yourself and made some easy money. If you have, that means you contributed to the more than $207 million legally wagered in September on sports in Colorado. Aside from your winnings, you might also feel good that all that money is contributing to the tax revenue that soon will fund Colorado&rsquo;s much-needed water projects.
&nbsp;
But unfortunately, it&rsquo;s not that simple. Colorado Sun reporter Kevin Simpson is joining today to explain why.
So Kevin, legalized sports betting has had an unusual rollout in Colorado, hasn't it?
And what was disconcerting about the numbers?&nbsp;
So how do these industry experts make sense of this?&nbsp;
Interesting, will that prompt any changes?
Thank you so much for joining us Kevin.
We do know that projecting tax revenues on sports betting has been difficult, and some early guesses proved to be high.
&nbsp;
State Rep. Alec Garnett, a Denver Democrat who backed the bill that legalized sports betting last year, said the declining tax revenue numbers amid the rising handle are [quote] &ldquo;worthy of a conversation about what&rsquo;s driving the spread in different directions.&rdquo;
&nbsp;
But between the mechanics of a new market and the coronavirus pandemic that threw the sports schedule into disarray, the statewide performance of sportsbooks could be &ldquo;a couple years out&rdquo; from predicting the ebbs and flows of money coming into the state.
&nbsp;
Some industry experts point out the simple truth - that great taxable revenue receipts essentially would mean a lot of Coloradans lost bets. For the long term, that could hinder the industry&rsquo;s growth by discouraging those testing the waters. By forgoing some tax revenue in the short term, allowing for the big promotional push, Colorado boosts its chances of nurturing a mature business and capitalizing on future tax money.&nbsp;
&nbsp;
For the moment, they claim, Colorado simply suffers from a small sample size.
&nbsp;
Before we go, and now that we&rsquo;re months into dealing with the impacts of the coronavirus, we&rsquo;re bringing you insight from one of our readers on how the experience has changed their lives, and what they&rsquo;ve learned along the way. This is part of our &ldquo;Write On, Colorado&rdquo; initiative.
&nbsp;
To browse through more than 150 personal essays and poems like this, or to submit your own, go to Colorado Sun dot com slash writeon.
&nbsp;
Finally, here are a few stories you should know about today:
&nbsp;
As federal land managers consider opening trails to electric bicycles, conversations about new opportunities for access to public lands mixes with concerns about impacts to wildlife and traditional non-motorized travelers.&nbsp;&nbsp;
-
An analysis shows that mail ballot rejections in the 2020 election remain below average, but are expected to rise and disproportionately affect younger voters.
-
In lieu of federal action, Colorado will send one-time $375 stimulus payments to 435,000 people
-
As of Wednesday, the Cameron Peak fire in northern Colorado had destroyed 442 buildings and damaged another eight
-
Slopes opened on Wednesday at Wolf Creek Ski Area with three lifts running through Sunday.
&nbsp;
For more information on all of these stories, visit our website,<a href="http://www.coloradosun.com/"> www.coloradosun.com</a>.&nbsp;
And don&rsquo;t forget to check out the Born in Colorado Giveaway curated by IndieGetUp, Colorado&rsquo;s number-one sustainable men&rsquo;s fashion marketplace, for a chance to win $2200 worth of outdoor gear! Featuring Folsom Skis, Strafe Outerwear, Lems Shoes, D-Curve Optics, Point 6 socks, Arcanum CBD-infused tape, Ripton &amp; Company, and Elsewhere Candle Company.
&nbsp;
The IndieGetUp giveaway is the perfect way to explore the outdoors with premium gear.
&nbsp;
Again, go to <a href="http://indiegetup.com/giveaway">indiegetup.com/giveaway</a> and follow the prompt to win, also check out <a href="http://indiegetup.com/">indiegetup.com</a> for all of your men&rsquo;s sustainable fashion needs.
&nbsp;
The Colorado Sun is non-partisan and completely independent. We're always dedicated to telling the in-depth stories we need today more than ever. And The Sun is supported by readers and listeners like you.
&nbsp;
Right now, you can head to ColoradoSun.com and become a member. Starting at $5 per month for a basic membership and if you bump it up to $20 per month, you&rsquo;ll get access to our exclusive politics and outdoors newsletters. Thanks for starting your morning with us and don&rsquo;t forget to tune in again tomorrow.
&nbsp;See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.

Welcome to The Colorado Sun's daily podcast, The Daily Sun-Up. Every day we’re sharing an in-depth look at one of our top stories, followed by a quick summary of important things happening in our state. For more visit us at https://coloradosun.com/.

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