Based on a moderate tax on the net proceeds of an operator’s sports betting activity, Colorado initially estimated that the state would receive around $10 million in fiscal year 2020-21. The estimates were made prior to the 2020 global sports freeze that sidelined the majority of top sports leagues worldwide beginning in mid-March. The projections could be revised given the widespread casino closures brought about by the COVID-19 pandemic. Under the Colorado Taxpayer Bill of Rights (TABOR), any tax revenue collected by the state government that exceed a $29 million cap must be redistributed to taxpayers.