Colorado Sports Betting

Colorado is not a stranger to gambling. The state is home to some of the country’s most famous casinos spread out across its rocky countryside. However, sports betting was considered a grey area for the past three decades – until now.

Sports betting received approval from Colorado’s residents in 2019, following a referendum in which more than 1.3 million people voted. However, it didn’t become officially legal until May, 2020. Now sports betting Colorado is incredibly easy, and some may even argue that it is more lucrative than in other states. Here is an overview of everything you need to know about sports betting in Colorado.

What Kinds of Gambling are Legal in Colorado?

As mentioned, casino-style gambling has been legal in Colorado for decades now – some of the first casinos were set up in 1991. Casinos in the state offer a wide range of gambling options, including slots, table games, poker, scratch cards, bingo, keno, and more!

Colorado seems to have taken a similar approach with sports betting, as there are few limitations when it comes to the sports that you can bet on and the types of bets applicable for each sport. For starters, bettors can bet on virtually any sport from across the world, including:

BaseballFootballAuto Racing
BasketballMixed Martial ArtsTrack Racing
GolfBoxingCycling
TennisLacrosse 
SoccerHockey 

The specific sports leagues that you can bet on for the major sports include:

Baseball:MLB
Basketball:NBA, WNBA, NCAA, EuroLeague
Football:NFL, CFL, NCAA
Hockey:NHL
Soccer:MLS, English Premier League, English Championship League, UEFA, World Cup, and more
Auto-Racing:Formula 1, NASCAR, and more
Mixed Martial Arts:UFC
Golf:PGA Tour, LPGA Tour, and more
Tennis:WTA, ATP

The law also allows for a wide range of sports bets, including:

  • Point spreads
  • Money lines
  • Over/under
  • Parlay
  • Teasers
  • Futures
  • Live betting
  • Props
  • Round Robins

P.S. The law prohibits line, in-play and prop bets on college sports. There are no limitations for all the pro teams in the state.

Where to Bet on Sports in Colorado

Simply put: you can bet on sports anywhere within Colorado’s state lines! The law provides for many options when it comes to how and where you can wager on sports. The options include:

Online Sports Betting in Colorado

Online sports betting has been a contentious topic in the gambling industry, but it is not an issue in Colorado. Online sports betting became legal in May, 2020 – however, some of the legal aspects of online sports betting (and sports betting in general) are still under review and will be implemented over time.

Online sports betting Colorado only works with licensed sportsbooks that offer an online betting platform. Residents can apply and do everything online, from exploring available Colorado sports betting options to withdrawing their winnings after the fact.

Every sportsbook offers a standard range of features. These include a portfolio of available sports betting options, which are listed alongside important details such as the attached odds, running times, and more.

Different sportsbooks also accept different banking options, including major credit cards (Visa, MasterCard, Discover, and more), online money wallets (PayPal, Skrill, NETELLER, and more), bank wire transfers, and more. You can then choose your desired sports betting options, place your wagers online, and track the progress of your bets all from one platform.

Some sportsbooks also offer live, in-play betting options, including live streaming. However, the range and quality of features may vary from one sportsbook to another. It is, as such, important to sign up with a credible sportsbook. Important features to consider in a sportsbook include its adherence to regulations, the quality of its user interface, the size of its sports betting portfolio, available promos and other offers, and overall reputation.

Estimated time needed to register, deposit and start to play 3 minutes.

Anyone of legal gambling age can sign up with a licensed online sportsbook. The registration and betting processes are fairly easy, as explained below:

  1. Sign Up

    The first step is signing up with your sportsbook of choice. You will be required to provide your ID details, including your name, the last four digits of your social security number, phone number, email address, date of birth, and residential address. This information is used to determine your legality and age. It is advisable to provide credible information to avoid complications down the road.

  2. Fund Your Account

    – Registration takes minutes, and the next step entails funding your account so that you can start placing real money wagers. The law allows for a wide range of banking options, including all major credit and debit cards. Acceptable e-wallets include PayPal, NETELLER, and PayNearMe. Play+, a virtual prepaid card, is also popular on most sportsbooks.

    – Transactions are relatively secure as the law has strict requirements in place to safeguard users’ banking details. The transactions are also relatively fast, but this depends on the transaction method. The fastest options are e-wallets and credit cards, while bank and wire transfers may take up to three days to clear.

    – It is also worth noting that withdrawals take longer to clear compared to deposits. Additionally, some sportsbooks may require you to provide proof of your identity, such as a passport or utility receipt with your personal details. It is advisable to register with a sportsbook licensed by the Colorado Division of Gaming for flawless transactions. 

  3. Place Your Bets

    You can now proceed to place real-money bets! Most sportsbooks offer user-friendly interfaces, so placing your bets should be easy. Some sportsbooks also go a step further with additional features such as betting tips and bet builders. You can also follow up on your bets in real-time using the site’s streaming options, or wait for it to play out and get alerts when the game ends.

P.S. Online sports betting works flawlessly in Colorado, but everything freezes outside state lines. The online sportsbooks licensed to operate here are required to track their users’ locations using GPS tracking systems, and the users’ online accounts and apps stop working when they leave the state.

Mobile Sports Betting Apps in Colorado

Colorado’s friendly online sports betting laws have seen a flurry of Colorado sports betting apps venture into the market, and many more are making plans to get the necessary licensing and regulation. Here is an overview of some of the most popular sports betting apps currently active in the state:

DraftKings

DraftKings is one of the most reputable sportsbook brands in the world. The app is making an aggressive venture in the state, with welcome bonuses as much as $200. The app is easy to use and the sportsbook offers a flurry of features, including one of the largest sports betting portfolios in the industry.

FanDuel

FanDuel is one of the most popular sportsbooks in the country, and it is ranked as the best in Pennsylvania and New Jersey. It also has a diverse sports betting portfolio with all the major popular national listings as well as international favorites. The app is also popular for its robust fantasy sports options, which is not available on most other sportsbooks.

BetMGM

BetMGM is one of the most enticing apps in the state. Its incentives to new players include huge promotions as much as 100% bonuses on the first deposit, odds’ boosts, and an early cash-out option that allows players to withdraw their cash before the game ends. 

BetMonarch

BetMonarch is the only sports betting app native to Colorado. The app is an extension of the Monarch Casino Resort Spa, which is a land-based casino in Black Hawk. The app is surprisingly robust and includes a wide range of sports betting options.

Other Sportsbooks

Amongst other online sportsbooks apps in Colorado you will find the UK founded betting operator BetFred, Rush Street Gaming owned sportsbooks BetRivers and the American sports betting pioneers SuperBook Sportsbook.

Land-Based Sports Betting in Colorado

Colorado is home to dozens of casinos located mostly in its rocky countryside towns, including Black Hawk, Cripple Creek, and Central City. Every casino already has a Master Sports Betting License, which is the main requirement for offering sports betting. Additionally, many casinos have already laid down the infrastructure necessary to offer sports betting options.

Some of the most popular casinos offering sports betting options include:

Ameristar Casino Resort & Spa

Ameristar Casino Resort Spa has one of the best sportsbooks in the state. Its sportsbook includes both a physical lounge and online betting platform. The sports lounge is located on level 2 of the casino, inside BAR8042, while the online platform is accessible from anywhere in the state.

Monarch Casino Resort & Spa

Monarch Casino Resort & Spa is the only land-based casino in the state with its own retail sportsbook: BetMonarch. The BetMonarch sportsbook works both online and physically at the casino. It offers some of the best odds in the state, with 16-cent run lines and 8-cent money lines.

Other casinos offering sports betting options include:

Bull Durham Saloon & CasinoBrass Ass Casino & Saloon
BullWhackers CasinoMidnight Rose Hotel & Casino
Canyon CasinoGold Rush Hotel
Isle of Capri Casino & HotelColorado Grande Casino
Lodge CasinoBlack Diamond Casino & Saloon
Red Dolly CasinoZ Casino Black Hawk
Riviera Black Hawk CasinoThe Wild Card Saloon & Casino
Sasquatch CasinoSilver Hawk Saloon & Casino

Betting on sports in land-based casinos is different from online sportsbooks and mobile sports betting apps. These casinos have sports lounges where players can go to place their wagers and do more, including watching their favorite games live over a refreshing drink. Betting is done through a betting terminal or kiosk, where live agents take your betting order and issue you with a receipt. You can then cash in the receipt if your wager goes through.

The law also allows land-based casinos to form partnerships with online sportsbooks, including out-of-state brands. To this end, some of these casinos also offer online betting options through their partners. Some of the most notable partnerships include:

SportsbookLand-Based Casino
DraftKingsGolden Mardi Gras
FanDuelGolden Gates Casino
BetMGMMidnight Rose Casino
BetMonarchMonarch Casino Resort Spa
BetRiversJP McGills Hotel & Casino
SuperBook USAThe Lodge Casino at BH
BetfredSaratoga Casino

It is worth noting that most of the casinos advertising sports betting are doing so through their sportsbooks partners. As such, you don’t have to be a patron at the casino to sign up with these sportsbooks. However, more and more land-based casinos are setting up sports lounges, and more sportsbooks are negotiating partnerships with the other casinos.

Who Can Bet on Sports in Colorado?

There are two main requirements for betting on sports in Colorado. The first is that you must be a legal resident, as you will be required to provide certain details about your government-issued ID. The second is that you must be of legal gambling age, which is 21-years-old under Colorado law.

However, while anyone of legal gambling age and residence in Colorado cam bet on sports, the authorities still urge some caution. Sports betting is classified as gambling, which is the primary reason behind some of the opposition during the referendum. It is important not to overdo it, as it can lead to addiction to gambling.

The government also has ready help for residents struggling with addiction to gambling. Anyone with this problem is urged to get in touch with the Problem Gambling Coalition of Colorado through 3030-662-0722, or the Gamblers Anonymous association via 303-754-7119.

FAQs

What types of promotions and bonuses do the sportsbooks in Colorado offer?

Sportsbooks setting up shop in Colorado are wooing sports bettors using a range of bonuses and promos, including:

Deposit Bonuses
Many sportsbooks offer a welcome bonus for new applicants in the form of a bonus on your first deposit. The bonus can bet anything from 1% to 100% of your initial deposit. The bonus is credited to your player’s account immediately after the deposit is approved.

However, some sportsbooks may require you to provide a voucher or bonus code before unlocking the deposit bonus. It is also worth noting that the bonus money may come with certain requirements, such as how many times you should wager it and which sports you can bet on.

Odds Boosts
The rule of that is that bigger odds fetch bigger prizes. Odds boost is not new in sports betting, but it has been gaining increased popularity over the recent past. It entails unusually high odds on ordinary matches. The odds boosts are reserved for select games, and they may come with certain requirements or an increased degree of risk or volatility.

Loyalty Programs
Sportsbooks also reward their long-time users through robust loyalty programs. Most of these programs reward players with comp points for their participation on the platform. The comp points can then be redeemed for a wide range of prizes, including cash.

Where can I bet on sports in Colorado?

You can bet on sports anywhere you are in Colorado, thanks to the state’s friendly online sports betting regulations. There are at least five sportsbooks licensed to operate in the state, and you can register on one or more of these online using your PC or smartphone. However, you must be in the state for your online sports betting accounts to work, as all your registered devices will be tracked using GPS tracking technology.

You can also walk into one of dozens of world-class land-based casinos in the Rockies. All of the casinos are licensed to offer sports betting, and some have already established robust sports lounges with betting kiosks. 

How is the tax money collected from sports betting used?

The law requires casinos and sportsbooks offering sports betting services in Colorado to pay a state tax of 10% on their revenues. This is estimated to total to anything between $16 million and $30 million per year. The tax money will be primarily used to fund the state’s water projects, community colleges, and other essential obligations. Some of this money will also go towards helping people dealing with addiction to gambling.

It is also worth noting that individual players’ winnings are taxable. Players who win more than $600 will receive a W-2 form along with their payout.

Can I bet on college sports in Colorado?

Yes, you can place bets on both professional and college sports and teams in Colorado. However, even this state’s lax laws ban players from wagering on prop bets in college games, and betting on high-school games is banned completely.

Must I bet an official resident of Colorado to legally bet on sports within the state?

No, you don’t have to be an official resident of Colorado to bet on sports in the state. However, you must be a legal American resident with a government-issued ID document. You must also be of the legal gambling age of 21 years old.

Are eSports and daily fantasy sports betting allowed in Colorado?

Yes, eSports and daily fantasy sports betting are allowed in Colorado. However, eSportsbetting is only allowed if the event is sponsored or regulated by a governing body, and if the participants are at least 18 years old.

How is sports betting in Colorado regulated?

Sports betting Colorado is regulated by two bodies: the Colorado Division of Gaming, and the Colorado Limited Gaming Control Commission.