(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:
A sports governing body that sanctions or governs a sports event on which bets areplaced; or
Any team that is a member team in a sports governing body described in subsection
(1)(a)(I) of this section.
A sports governing body or any of its member teams;
An agent, union, or union representative that advocates for players, referees, or otherpersonnel involved with the conduct of a sports event;
A person who holds a position of authority or influence sufficient to exert influenceover the participants in a sports event, including coaches, managers, and athletic trainers;
A person with access to nonpublic information on any sports event overseen by thatperson'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
A person identified by the sports governing body to the division or the commissionfor purposes of establishing actual or potential conflicts of interest.
The direct or indirect legal or beneficial owner of ten percent or more of a sportsgoverning 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.
The prohibitions set forth in this section do not apply to a sports governing body, amember 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:
Who holds less than ten percent direct or indirect ownership interest in a casino orsports betting operation; or
Whose sports betting operation prohibits any wagering on the owner's team or players or the sports governing body's sports events.
Source: L. 2019: Entire part added, (HB 19-1327), ch. 347, p. 3217, § 12, effective May 1, 2020.
Editor's note: Section 16(2) of chapter 347 (HB 19-1327), Session Laws of Colorado 2019, provides that this section takes effect May 1, 2020, only if, at the November 2019 statewide election, a majority of voters approve the ballot question submitted pursuant to § 4430-1514. That ballot question, referred to the registered electors as proposition DD, was approved on November 5, 2019, and was proclaimed by the Governor on December 20, 2019. The vote count for the measure was as follows:
For: 800,745
Against: 756,712