What is the News Circulating in the Colorado Sports Betting Market This Week?

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Sports betting in Colorado makes headlines once again. A gaming facility received a fine from the Colorado Limited Gaming Commission (CLGC) and Dan Hartman, the director of Colorado’s Division of Gaming, is expected to retire soon.

Monarch Casino & Resort Receives a Fine?

 

After being subject to a fine by the Colorado Limited Gaming Commission (CLGC), Monarch Casino & Resort hired GeoComply to take extra precautions moving forward. The reason why the gaming facility received a fine was that three employers engaged in proxy betting.Fanduel Shield 2016 1

The company self-reported the issue because it discovered that three employees at Black Hawk Casino were accepting wagers for customers that were out-of-state. Proxy bets are frowned upon in the Centennial State but are not strictly illegal.

In the commission’s investigation, the entity found that 79 proxy bets were made between January 2021 and June 2022 by 11 customers. The total accounted for $61,000 in wagers.

After discovering evidence of proxy betting, Monarch took action against its sportsbook employees, including Nicholas Epstein, Brian Lopez, and Ted Kilgore, and faced the consequences. All of them were suspended from their roles and later fined.

Breaking Down the Case in Further Detail

 

In addition to the BetMonarch app, 19 bets were placed at the casino’s sportsbook. A total of 60 bets were placed by Nicholas Epstein, the sportsbook manager at the time, who logged into the customers’ accounts via the app. Monarch Casino is one of the biggest fines that was imposed in the state’s history but falls short of the $500,000 slot developer Aristocrat Technologies faced in 1997.

Regardless, this was the biggest fine for a casino operator in the state. CLGC imposed $5,000 for each proxy bet placed and $5,000 for other violations. Half of the fine must be paid within 10 days of the ruling, and the rest within two years.

These types of issues aren’t common, but this happened in the past. Last March, an employee at DraftKings in New Jersey took proxy bets for a bettor located in Florida. Due to procedure, the company was fined $150,000.draftkingsprimary

Colorado Gaming Director Dan Hartman is Expected to Retire in May

 

The director is expected to retire on May 1st, which will mark three years since the market went live. Hartman has seen the ups and downs as the state faced many obstacles during the pandemic because a majority of sports leagues shut down.

Hartman has helped the market become a prominent member of the sports betting industry thanks to its low barrier to entry. Currently, over 20 mobile sportsbook platforms live in the state, and more are expected to join the state.

Applications for the applications will be accepted by February 28th. In addition to overseeing limited gaming, sports betting, fantasy sports contests, compliance, licensure, and budgeting, the new director will also maintain and develop new regulations.

Hartman will be a tough person to replace because of the amount of knowledge he has amassed over the years. On top of that, he has experience working at greyhound race tracks in both South Dakota and Iowa.