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Colorado Revised Statutes Title 44. Activities Regulated by the Department of Revenue § 44-30-1502. Conflict of interest--participants in sports or athletic events

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) The following persons shall not have any ownership interest in, control of, or otherwise be employed by a sports betting operator, a licensee, or a facility in which sports betting takes place or place a wager on a sports event that is overseen by that person's sports governing body based on publicly available information:

(a) An athlete, coach, referee, employee, or director of:

(I) A sports governing body that sanctions or governs a sports event on which bets are placed; or

(II) Any team that is a member team in a sports governing body described in subsection (1)(a)(I) of this section.

(b) A sports governing body or any of its member teams;

(c) An agent, union, or union representative that advocates for players, referees, or other personnel involved with the conduct of a sports event;

(d) A person who holds a position of authority or influence sufficient to exert influence over the participants in a sports event, including coaches, managers, and athletic trainers;

(e) A person with access to nonpublic information on any sports event overseen by that person's sports governing body, which information pertains to or could affect or influence the performance of any team, coach, or participant in the sports event; or

(f) A person identified by the sports governing body to the division or the commission for purposes of establishing actual or potential conflicts of interest.

(2) The direct or indirect legal or beneficial owner of ten percent or more of a sports governing body or any of its member teams shall not place or accept any wager on a sports event in which any member team of that sports governing body participates.

(3) The prohibitions set forth in this section do not apply to a sports governing body, a member team of a sports governing body, or a person who is a director or a direct or indirect owner of a sports governing body or member team of a sports governing body:

(a) Who holds less than ten percent direct or indirect ownership interest in a casino or sports betting operation; or

(b) Whose sports betting operation prohibits any wagering on the owner's team or players or the sports governing body's sports events.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 44. Activities Regulated by the Department of Revenue § 44-30-1502. Conflict of interest--participants in sports or athletic events - last updated January 01, 2025 | https://codes.findlaw.com/co/title-44-activities-regulated-by-the-department-of-revenue/co-rev-st-sect-44-30-1502/

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