(1) A person must be at least twenty-one years of age to place a bet. (2) (a) A sports betting operator shall adopt procedures to prevent persons who are prohibited from wagering on sports events from doing so. In the event of a wager placed by a person later determined to be ineligible, the sports betting operator shall refund the wager if possible or, if a refund is not possible, shall remit the amount of the wager to the commission for transfer to the sports betting fund. (b) A sports betting operator shall not accept a bet from any person whose identity is known to the sports betting operator and: (I) Whose name appears on the exclusion list maintained by the master licensee with whom the sports betting operator has a contractual relationship; except that a person may not invalidate or retract a bet already placed at the time the person's name is placed on the exclusion list; (II) Who is the sports betting operator, a director, officer, owner, or employee of the sports betting operator, or any relative of the sports betting operator living in the same household as the sports betting operator; (III) Who has access to nonpublic, confidential information held by the sports betting operator; or (IV) Who is an agent or proxy for any other person for the purpose of placing the bet. (3) A sports betting operator shall establish or display the odds at which wagers may be placed on sports events. (4) A sports betting operator shall adopt procedures to obtain personally identifiable information from any individual who places any single bet in an amount of ten thousand dollars or more on a sports event while physically present in a casino, and all disclosure and reporting requirements otherwise applicable to wagers under this article 30 apply to the conduct of sports betting under this part 15. (5) (a) A sports betting operator shall promptly report to the division: (I) Any criminal or disciplinary proceedings commenced against the sports betting operator or its employees in connection with the operations of the sports betting operation or internet sports betting operation; (II) Any abnormal betting activity or discernible patterns that may indicate a concern about the integrity of a sports event or events; (III) Any other conduct with the potential to corrupt a betting outcome of a sports event for purposes of financial gain, including match fixing or the use of material, nonpublic information to place bets or facilitate another person's sports betting activity; and (IV) Suspicious or illegal wagering activities, including the use of funds derived from illegal activity, wagers to conceal or launder funds derived from illegal activity, use of agents to place bets, or use of false identification. (b) In addition to reporting to the division as required by subsection (5)(a) of this section, a sports betting operator shall maintain records of all bets placed, including personally identifiable information of the bettor when available, amount and type of bet, time the bet was placed, location of the bet, including internet protocol address if applicable, the outcome of the bet, and records of abnormal betting activity. A sports betting operator shall maintain these records for at least three years after the sports event occurs and shall make the records available for inspection upon request of the division or as required by court order. (c) The division shall, given good and sufficient reason, cooperate with a sports governing body and sports betting operators to ensure the timely, efficient, and accurate sharing of information for the sole purpose of ensuring the integrity of their sport. (d) The division and sports betting operators shall, given good and sufficient reason, cooperate with investigations conducted by sports governing bodies and shall cooperate with law enforcement agencies, including providing or facilitating the provision of account-level betting information and any available audio or video files relating to persons placing bets. (e) The division may share any information obtained under this section with any law enforcement entity, team, sports governing body, or regulatory agency that requests information from the division in connection with an investigation conducted by that entity, team, sports governing body, or regulatory agency. The division may redact or aggregate information to protect the privacy of persons who are not subjects or targets of the investigation. (6) All bets authorized under this part 15 must be initiated, received, and otherwise made within Colorado unless otherwise determined by the division in accordance with applicable federal and state laws. Consistent with the intent of the United States congress as articulated in the federal "Unlawful Internet Gambling Enforcement Act of 2006", 31 U.S.C. secs. 5361 to 5367, the intermediate routing of electronic data relating to a lawful intrastate wager authorized under this provision does not determine the location or locations in which the wager is initiated, received, or otherwise made. (7) Each sports betting operator may set such bet limits as it sees fit, in its sole discretion, and may make those limits specific to a form or class of sports betting, a specific sports event, or a person placing a bet, based on individual or aggregate data concerning bets to be placed or that have been placed historically by that individual or on that form or class of sports betting or on that sports event. (8) An internet sports betting operator shall accept bets only from persons physically located within the state of Colorado. An internet sports betting operator may establish and fund sports wagering accounts electronically through commission-approved mobile applications and digital platforms.
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