The laws and legislation of the state cover most types of betting. Gambling on horseracing, greyhound races, Lottery, Social Gaming, Casino Gaming, Sports Betting, and Online Gambling all have a unique governing framework:

• Horseracing: Betting on horseracing is only permitted when funds are placed into a pari-mutuel pool by bookmakers (pari-mutuel betting). Off-track betting is allowed at various licensed racing sites, taverns, and totes. To bet on the horses, gamblers in Colorado must be 21 years of age or older.

• Greyhounds Racing: Greyhound racing was officially outlawed within the state of Colorado, though off-track betting is still allowed at various licensed off-site locations. All the races bet on are undertaken in other states in the USA where Greyhound gambling is legal. Gamblers must still be over 21 years of age to bet on dog races.

• Lottery and Instant Games: Lottery games are purely state-run and regulated. The offerings included in this segment and under this regulation are certain instant game types, which include scratch cards. The state is more lenient on the age of gamblers in this segment, allowing players of 18 years old and more to participate in the draws.

• Social Gaming: Social games like Bingo and Raffles can be run within the state if it is done by registered Charities and non-profit organizations. All funds for these practices must all go towards funding these organizations alone, and no private benefactors may benefit commercially in any way from this income. As seen with the introduction of state lotteries, the government of Colorado is in support of gambling for the sake of goodwill and relief. Like with Lottery gaming, all participants must be 18 years or older.

• Casino Gaming: Casino gambling, including games like slots, video poker, card poker, blackjack, craps, and roulette, is legal, as long as the casino is licensed and situated in one of three towns, namely Black Hawk, Central City, or Cripple Creek. The only exception to this rule is the permission given to Ute Tribes to host casinos on reservation land under tight regulation.

Casinos are permitted to open 24 hours (previously 18 hours) a day for gamblers who are strictly 21 years and over, however, no game may exceed the bet limit of $100 (originally $5), set by legislation. The casino business is lucrative for operator and state, as each casino must pay 20% in taxes on earnings, each year.

• Sports Betting: As off May 2020, sports betting is now legal in Colorado, but only by licensed operators within the towns of Black Hawk, Central City, or Cripple Creek. Proposition DD was passed with a vote of the people, making Colorado one of many states dismissing federal laws that once made sports betting illegal. All licenses for this offering are held by licensed casinos and not by independent sportsbook operators.

• Online Gambling: The only form of online gambling that is legal in Colorado is off-site betting on horseraces and greyhounds. These forms of betting must be done at regulated providers and not merely undertaken on a personal computer.

Licensing of gambling practices in Colorado can be done through the Colorado Department of Revenue and will only be granted under strict circumstances. There are 6 types of licenses offered in-state. These include:

• Manufacturer/Distributor License: Companies that manufacture or serve as a distributor for approved slot machines and their components.
• Retailer License: Persons permitting or conducting limited gaming on their premises.
• Operator License: Persons permitting slot machines on their premises or persons, such as slot routers, who place and operate slot machines on the premises of a retailer.
• Key Employee License: Persons who have the responsibility of making management or policy decisions in a gaming establishment.
• Support Employee License: Staff members, such as dealers, croupiers, cashiers, or anyone employed in the field of limited gambling.
• Associated Equipment Supplier: Persons who import, manufacture, or distribute associated equipment in Colorado, or otherwise act as an associated equipment supplier.

The vetting process is stringent for casino license operations, including background checks of all staff members, ID verification, financial backing checks, criminal checks, and more. None of this licensing is cheap either, with costs of up to $8,000 per type, with added background deposit payments payable in some instances.

It is not only the betting operator that must acquire a license to operate, but each employee that is linked to the management or hosting of gambling services or money payouts must do so as well. All staff must undergo ID verification and submit to a background check for a fee of $110 each. Usually, staff will not qualify for a license if there is a criminal record in their history, but immediate disqualifiers are convictions of embezzlement, theft, fraud, or perjury within the last 10 years. Older convictions than these, or convictions of other crimes will be evaluated on a one-on-one basis for assessment based on behaviour and rehabilitation, etc.

The strict licensing procedures are put in place to protect gamers at casinos. When dealing with money to the degree that one does in this industry, one must ensure that the most ethical people are involved behind the scenes. Casinos with licenses are therefore likely to provide a safe and secure gambling environment for all.