Colorado’s gaming regulator has imposed a $50,000 fine on BetMGM for violating state rules by accepting wagers on individual student-athlete performance, a market prohibited under Colorado law. The New Jersey-based sportsbook self-reported 48 instances of illegal betting across NCAA basketball and football events between March 2023 and October 2024. The violations included two men’s National Invitation Tournament games, two women’s March Madness regional finals, and a UNLV vs. Oregon State football matchup. The majority of wagers were placed during the 2024 women’s NCAA basketball tournament, involving prominent athletes such as Caitlin Clark, Angel Reese, and Paige Bueckers.
Colorado permits betting on college teams and game outcomes but strictly prohibits wagers on individual player performance. Half of the $50,000 fine is due within ten days, while the remaining $25,000 is suspended for two years, contingent on no further violations. BetMGM has committed to improving staff training and demonstrating stronger compliance with state regulations.
This penalty follows a similar enforcement action against DraftKings, fined $40,000 in July for taking illegal college player bets, illustrating Colorado’s robust approach to oversight. Regulators have emphasized the importance of protecting student-athletes from undue pressure, harassment, and risks associated with betting markets.
BetMGM’s financial performance remains strong, with third-quarter 2025 revenue reported at $667 million, up 23 percent year-on-year. The operator forecasts at least $2.75 billion in total revenue and $200 million in EBITDA for 2025, signaling ongoing growth in online gaming and sports betting. The fine reinforces the need for sportsbooks to align operational practices with legal and ethical standards in increasingly scrutinized US markets.
