Colorado gamblers will no longer be allowed to use credit cards to make deposits on sports betting apps, and their deposits will be limited to six per day, beginning Wednesday.
The new rules are part of the bipartisan Senate Bill 26-131 passed in May by the Colorado General Assembly amid growing concerns over rising addiction, especially among young men and boys. The bill’s sponsors hope the new guardrails will slow bettors, who play frequently as they chase their financial losses.
The deposit limits are counted on a rolling 24-hour basis.
Sports betting companies began informing their customers this month of the rule changes.
