Raising The Stakes

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Many Colorado casinos are hoping to raise the $5 betting limit in the states three gambling towns, Cripple Creek, Black Hawk and Central City. Colorado is the only state with a $5 bet limit.

Many casinos say raising the stakes would attract more out-of-town visitors. Gamblers we spoke with say they'd likely spend more money. Rico Raynor, a gambler said, “I think it would be more exciting. There would be more possibilities.”

Most the casinos said, by raising the stakes, it would bring in more cash. Jim Shalhout owns the Virgin Mule Casino in Cripple Creek. “It would bring more of a draw to the town. We could compete with Vegas and the Indian reservations.”

Casinos hope to put this on the November 2008 ballot.

There is some opposition. Anti-gaming groups say this would feed the gamblers addiction. The two candidates running for governor also oppose the issue.

Last year, taxes from the casinos brought in $100 million to the state. That money is used for open space and tourism.