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best casino onlineTop 4 Colorado Online Casinos (Gambling Real Money in CO)
Short Summary: Colorado, is extremely liberal when it comes to gambling laws. In addition to land-based casinos with full offerings, the state has legal and regulated charitable gambling, live and simulcast racing wagering and lottery. The only thing they presently lack are sports books as well as any legalized and regulated form of Internet gambling, but we expect those to be coming soon and in that order.Colorado casinos were legalized in 1990 in select areas that had been traditional gold mining towns. The first casino was opened in 1991. 11 Casinos opened by the end of 1991, and in late 1992 you could find over 70 casinos spread throughout the legalized areas. Today there are just fewer than 40 remaining casinos.Colorado is easily one of the most liberal states when it comes to gambling, as all forms of gambling are legalized, regulated and in place with exceptions to online gambling and sports betting. With that, Colorado has the following types of gambling available:CharitablePari-MutuelLotteryCasinos (Commercial)Casinos (Tribal)Other than flat fees for Charitable Gambling of 3% of all revenues, Colorado has a sliding scale of how much it taxes revenues for casinos. The way this scale works is that the amount increases as the casinos make more money. Here it is:Charitable Events 3.00%$0 – $2 Million 0.25%$2 – $5 million 2.00%$5 – $8 million 9.00%$8 – $10 million 11.00%$10 – $13 million 16.00%$13+ million 20.00%These are amongst the lowest taxes on casino revenues in the country, especially for casinos that bring in less than five million dollars annually and/or on the first five million dollars annually. In terms of percentage, this tax is well under those of Nevada who tax casinos at roughly 6.75% with an additional 1% in fees for a total of 7.75%:In fact, the effective tax rate for a Colorado casino making eight million dollars exactly would look like this:(2000000 * .0025) + (3000000 * .02) + (3000000 * .09) = 335000335000/8000000 = .041875 or 4.1875%Therefore, a casino that brings in $8,000,000 in a year, or a casino that makes their first eight million, still pays a much lower effective tax rate on those revenues ……
