The state of Colorado legalized sports betting in November 2019. Since then, over two dozen online sports betting operators have launched their services in CO. Currently, there are 23 licensed sportsbooks available for us to enjoy. Some of these services have recently launched, making it harder than ever to choose one. That is why we have put this guide together, to help you choose the sportsbook that is right for you.
In case you did not know, there have been around 27 different sports betting sites in the Centennial State since the laws changed in 2019. Two of these services have completely shut down and one is in the middle of a relaunch. If you compare Colorado to Pennsylvania or Arizona, you will see a stark difference in the number of sportsbooks to choose from. Because of how competitive sports betting is in Colorado, the landscape can change quickly. Below is everything you need to stay one step ahead of the game, including details about every available sportsbook.
Bet $5 or More for a $200 Bonus
New players only, must be located in AZ, CO, CT, IA, IL, IN, KS, LA, MA, MD, MI, NH, NJ, NY, OH, OR, PA, TN, VA, WY, or WV. Must be 21+ or 18+ in WY. Bonus bets are valid for seven days or 168 hours from when the bet appears in your account. Complimentary bet values are not included in returns or winnings from any wager. The bets are non-transferable, non-refundable, and cannot be transferred for cash. One welcome bonus per customer.
- Refer a Friend for a $100 Complimentary Bet
- Daily Free-to-Play Prize Pools
- Enjoy a Variety of Promotions During Important Sporting Events
$3,000 Risk-Free First Bet
New players only. Place your first wager at the FanDuel Sportsbook for a risk-free first bet worth up to $3,000. Must be over 21 years of age and physically located in AZ, CO, CT, IL, IN, IA, KS, LA, MD, MI, NJ, NY, OH, PA, TN, VA, WV, and WY. To qualify, you must deposit at least ten dollars on any sporting event at FanDuel. If your wager loses, you can get up to $3,000 in extra bets.
- Place a $20 Four+ Leg Parlay on College Football and get $10 in Complimentary Bets
- Refer a Friend for a Bonus Worth $75
- Place an NFL 4+ Leg Same Game Parlay and a Second Chance if your Wager Loses
Get a Second Chance Bet Worth up to $1,250
Register a new Caesars Sportsbook account to receive a risk-free wager worth up to $1,250. New players will also receive 1,000 reward credits and 1,000 tier credits. The extra bet for this promotion is only paid out if your wager loses and is worth up to $1,250. Bonus bets must be used within 14 days of receipt. Must be physically present in AZ, CO, IA, IL, IN, KS, LA, MI, NJ, NY, PA, TN, VA, WV, or WY. Your first wager must be worth $10 or more to qualify. The bet is a one-time wager that cannot be divided into multiple wagers.
- Refer a Friend for a $100 Bonus Bet
- 33% NFL Parlay Boost
- Ticket Giveaways for NFL, NBA, MLB, and NHL Games
Best Sportsbook for Colorado Players
Any resident of Colorado will have to choose which sportsbook to sign up for. Each service has a different selection of sports to bet on, plus a unique combination of bonus features and promotions. The section below is a perfect entry point for any new player, as it provides a bit of background for each sportsbook. Remember, the further down our guide you go, the more details you can find about sports betting in Colorado.
|1||DraftKings||AZ, CO, CT, IA, IL, IN, KS, KY, LA, MA, MD, MI, NH, NJ, NY, OH, OR, PA, TN, VA, WV, WY||Bet $5 or More for a $200 Bonus|
|2||FanDuel||AZ, CO, CT, IA, IL, IN, KS, KY, LA, MA, MD, MI, NJ, NY, OH, PA, TN, VA, WV, WY||$3,000 Risk-Free First Bet|
|3||Caesars||AZ, CO, IA, IL, IN, KS, LA, MA, MD, MI, NJ, NY, OH, PA, TN, VA, WV, WY||Get a Second Chance Bet Worth up to $1,250|
|4||BetMGM||AZ, CO, IA, IL, IN, KS, LA, MA, MD, MI, NJ, NY, OH, PA, TN, VA, WV, WY||Start With a $1,000 Risk-Free|
|5||BetRivers||AZ, CO, CT, IA, IL, IN, LA, MD, MI, NJ, NY, OH, PA, VA, WV||$500 Risk-Free for New Players|
|6||Bet365||CO, NJ, OH, VA||Bet $1 for $200 in Bonus Bets|
|7||PointsBet||CO, IA, IL, IN, KS, LA, MD, MI, NJ, NY, OH, PA, VA, WV||Get up to $500 in Extra Wagers|
|8||FOX Bet||CO, MI, NJ, PA||New Customer Insurance Bet Worth $50|
|9||Betway||AZ, CO, IA, IN, LA, NJ, OH, PA, VA||$250 Second Chance Bet|
|10||Barstool||AZ, CO, IA, IL, IN, KS, LA, MA, MD, MI, NJ, PA, TN, VA, WV||$1,000 New Player Bonus|
If you are serious about sports betting, you won’t find many better sportsbooks than DraftKings. For starters, it is one of the most popular choices across America. Whether you are playing in Pennsylvania or Arizona, DraftKings is usually at the top. The reason for its dominance is not just down to one reason. It has a good mix of sports to bet on, a wide range of wagers to consider, and it has consistently good odds for many sports.
Another reason for DraftKings’ popularity is the number of services it offers. You can experience daily fantasy sports, an NFT Marketplace, and a variety of casino games; if you are in the right state. It is the perfect sportsbook for players with some experience making sports bets. However, if this will be your first sportsbook, or if live betting is important to you, then there might be a few better options in the list below. Remember, once you sign up for a sports betting site, you can always move at a later date.
FanDuel is another sports betting service widely available across America. Like DraftKings, it offers a range of services such as casino games or fantasy sports. However, it differs from its rival in several ways, none more so than its user-friendliness. FanDuel is a much better starting point for any new player looking to try betting for the first time. The mobile app is one of the best available in Colorado, and that applies to sports betting and fantasy sports.
As we have mentioned, if this is your first time even looking at a sportsbook, then FanDuel is the way to go. It is the perfect sportsbook to browse sports bets, learn about the various wagers you can place, and experience various promotions. If you are trying to get free bets or sportsbook bonuses, you are more likely to get them at FanDuel.
Now that we have looked at two of the most popular sports betting sites, it’s time to get into more specifics. Caesars Sportsbook is an excellent option as it has one of the best reward systems out there. For those of you who don’t know, some sports betting sites have a loyalty program where players earn points towards various prizes. At Caesars, these prizes include discounted holidays, free hotel stays, and various other exclusive goodies.
As far as the actual sportsbook goes, Caesars is usually smaller than FanDuel or DraftKings. However, it is competitive as far as odds go and is also particularly good with promotions. The mobile functionality is also one of Caesar’s strongest points and so are the live betting options. If you plan on joining one sportsbook and remaining loyal, there are few options as good as Caesars.
Another service with a good reward system is BetMGM. Just like Caesars, you can get exclusive rewards like hotel stays and you can also claim exciting sportsbook bonuses. Besides the reward system, BetMGM is usually one of the best for giving out promotions. The promos include free bets and profit boosts for all players to enjoy.
Usually, BetMGM has a greater selection of sports than Caesars and is nearly as user-friendly as FanDuel. The service pleasantly surprised us when we compared the odds to DraftKings in our BetMGM review. That is because they offered very similar odds across multiple sports. For those who don’t know, DraftKings consistently gives out some of the best odds for bettors to enjoy. Since BetMGM has near identical odds, it is up there with the very best.
If you are looking for a sportsbook that offers something different from the competition, PointsBet is the way to go. That is because there is a unique type of wager offered at PointsBet that you won’t find anywhere else. PointsBetting is where you can win more depending on how right your prediction is. If you bet on an NFL game having 40 points scored, for each point above 40 you win more cash. The caveat is, every point under 40 will cost you more money.
Luckily for cautious sports fans, you do not need to make these types of wagers. If you were feeling inclined, PointsBet gives out two boosts every week, one for PointsBetting and one for traditional parlays. This is the fundamental type of promotion you can enjoy at PointsBet besides the reward system. If you collect enough reward points, you can claim some free bets.
If you want to know about Betway, we scrutinized the sports betting service in a detailed review. However, if you want a summary, this is what you need to know. Betway is an incredibly popular online sportsbook across the world. The service has millions of players in Africa, Europe, and Asia. Betway has recently moved to the U.S. so now it’s our turn to experience one of the most popular betting services in the world.
If you are a sports fan, Betway usually has an above-average selection of sports to bet on. This means there will be more events to bet on at Betway than at an average sportsbook. If you are a new player, this sports betting site is not an awful place to start. You will get to experience a good live betting service and a service that is easy for new players to use. If promotions are important to you, then there are other, more appropriate sportsbooks on this list for you.
The sportsbook that has surprised us the most is BetRivers. That is because it has everything we could ask for from a sports betting site. Whether you are looking for the greatest selection of sports or a variety of promotions, BetRivers is here for you. It is one of those services that compete with the very best available in Colorado and is very easy to use on a mobile device. It does not have as large a welcome bonus as other sports betting sites, but it is still an excellent choice.
If you are looking for the latest sportsbook to begin operations in the U.S. Bet365 is certainly a candidate. Having recently launched in New Jersey, Colorado is the second state Bet365 is taking sports bets from. The sportsbook in Colorado opened in September 2022 and it already has a variety of sports on offer, around 23.
9. FOX Bet
FOX Bet is not as widely available across the U.S. as the other sportsbooks we have mentioned, but it still offers an exemplary service. It has a decent collection of sports to wager on around the 15-mark. That means there is a wonderful variety of events to bet on every week. Plus, the sportsbook introduces promotions on a semi-regular basis, giving all players something exciting to enjoy.
10. Barstool Sportsbook
If you are looking at Barstool as your next sportsbook, there are a couple of features to note. Firstly, it has a good selection of sports to bet on. Secondly, it is one of those sportsbooks which does not prioritize promotions. You will only see sportsbook promos around large sporting events, like the Super Bowl. If promotions are not important to you, then Barstool is a good choice.
Another sports betting site with a shortened collection of sports to bet on is SuperBook. It has an exciting welcome bonus as new players can receive up to a $1,000 bonus if their first bet wins. Besides the welcome offer, there are plenty of other promotions available on the sportsbook. There are only 13 sports for patrons to bet on at SuperBook, so make sure it has the events you want to wager on before you sign up.
12. Bally Bet
Similar to SuperBook, Bally Bet also has a shortened range of sports for players to bet on. They have the most popular sports to bet on in America, like baseball, golf, and football. The sportsbook is not very generous with promotions. It is rare for promos to appear at Bally Bet even in the run-up to big sporting events.
The BetMonarch Sportsbook is linked with the Monarch Casino Resort Spa in Black Hawk, Colorado. You can access the service by visiting the retail sportsbook at the Monarch Casino Resort or by downloading the mobile app. There is no website available for PC users. Plus, there is no mobile app for Android devices on Google Play. Instead, you will need to download an Android APK file from the BetMonarch website.
Another small sportsbook when compared to the competition is Betfred. When we say small, we mean it has fewer events to bet on when compared to BetRivers. However, where Betfred excels is in the promotions. The sports betting site has several promotions applying to football every week. If you were only interested in betting on sports like the NFL, then you can get a lot of bonuses by placing your bets at Betfred.
15. Elite Sportsbook
The Elite Sportsbook is only available in two states, Colorado and Iowa. There are around 10 sports for you to bet on, including boxing and MMA. You can access the sportsbook on your PC and touchscreen device, including Android and iOS. There aren’t many promotions at the Elite Sportsbook, but you can get a $10 free bet when you make a four-leg parlay with a $50 stake.
The Betsafe Sportsbook is another you can only access via a mobile app. There is no online website to browse and place wagers on. Instead, download a copy of the mobile app from the Betsafe website. The sportsbook has everything you would expect; live betting, parlays, and plenty of boosted bets for you to consider.
17. Circa Sports
The smallest sportsbook in Colorado is Circa Sports. The no-nonsense sports betting site has seven sports to bet on, including college football and basketball. Circa Sports also has golf, hockey, soccer, UFC, and baseball. There is not much in terms of promotions, just you and the various bets you can place. The sportsbook has increased in size recently and now offers ten markets for players to bet on.
18. Maverick Sports
One of the smallest sportsbooks in Colorado is Maverick Sports. It has 11 sports to bet on and only one promotion, a welcome bonus. The bonus is reasonably generous, a risk-free bet worth up to $750. It is one of the best offers when compared to other small sportsbooks, but not as big as the likes of FanDuel and Caesars.
If Maverick Sports is too small for you, PlayUp could be a better option. With 12 sports to bet on, including Formula 1, NASCAR, and Indy Car, this sports betting site is perfect for motorsport fans. Once again, there is only one promotion at this betting site, and that is a welcome bonus. The bonus involves a $250 free bet to any new player who wagers $250 before the New Year.
20. SI Sportsbook
The Sports Illustrated Sportsbook is a unique sports betting service that blends sports news and betting into one place. It is one of the few services where you can read sports news on the same site where you can make bets. The sportsbook is much larger than PlayUp and Maverick with around 22 sports available. It is also an excellent choice for players who like promotions and the chance to claim free bets. The SI Sportsbook also offers players the chance to win $10k, for free, if they predict ten results. You can also earn free bets if you get six or more predictions correct.
The SBK or the Smarkets Sportsbook is another that operates slightly differently than your traditional sports betting site. The service emphasizes the social aspect of betting, where you can bet with or against other players. There is a section dedicated to tips, so you can follow successful bettors for picks and various other suggestions. The welcome bonus involves $100 worth of free bets to any new player who wagers $20.
Finally, the Tipico Sportsbook is another with around 12 sports for you to bet on. The service is currently available in New Jersey and Colorado, with Ohio launching in January 2023. The current welcome offer involves a 100% deposit match up to $250. Remember to read the terms and conditions before you sign up as the sportsbook has 2x wagering requirements.
23. Sky Ute Sportsbook
The Sky Ute Sportsbook is licensed by the Southern Ute Indian Tribe Division of Gaming. The sports betting service is only available on Android and iOS devices, plus you can visit the retail location at the Ute Mountain Casino. That means you can’t make sports bets using your PC. You must download the mobile app or visit the casino in person.
24. BetWildWood - Retail Only
The BetWildWood Sportsbook began taking bets in Colorado in July 2020. The sportsbook had mixed reviews, so they took down their mobile app with plans to launch a new version in 2023. When the new mobile app launches, you will be the first to know. AI generated the logo we have used for BetWildWood. It is not an official logo. When the mobile app relaunches, we will update the image.
25. WynnBET - Closed
WynnBET has closed down in Colorado. They announced the sports betting platform will close immediately in early August 2023. Before the announcement, WynnBet was available in 11 states. Now, the sportsbook is taking bets in three states. Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, and West Virginia have shut down. They reported the closure is down to commercial reasons.
26. MaximBet - Closed
The MaximBet sportsbook opened its doors to Colorado in September 2021. Unfortunately, the service flew too close to the sun and closed operations on November 16, 2022. If you are interested, they launched a new sports prediction platform called MaximBet Play. The mobile app allows players to predict sporting events and show off sports trivia for the chance to win prizes.
27. TwinSpires - Closed
In case you did not know, TwinSpires also ceased operations on May 16, 2022. The platform first launched in January 2021 and the company had a partnership with Bronco Billy’s. Since TwinSpires is not offering sports betting in Colorado, the sportsbook at Bronco Billy’s is closed.
The History of Sports Betting in Colorado
Colorado was the 19th state to legalize sports betting back in May 2020. Since then, over 23 sports betting services have launched in Colorado, giving us plenty of options when looking to make a bet. Below outlines the major events surrounding the legalization of sports betting in Colorado. If you want to know which services first start taking bets in CO, this is where you can find out.
- February 22, 1991: Dennis DeConcini introduces S. 474 to the Senate, the Professional and Amateur Sports Protection Act.
- June 2, 1992: The Senate votes to pass the PASPA with 88 for and 5 against.
- October 28, 1992: President George H. W. Bush signs the 1992 PASPA into law.
- June 2017: Several court cases are brought to the attention of the Supreme Court, which will hear arguments against the PASPA.
- May 2018: The Supreme Court rules that the 1992 PASPA is unconstitutional with a vote of 6-3. Each state will license and regulate sports betting.
- April 2019: Alec Garnett introduces HB. 1327, the first step to legalizing sports betting in Colorado.
- May 2019: Jared Polis signs HB 1327 into law.
- May 1, 2020: The first online sportsbooks in Colorado go live, BetMGM, DraftKings, BetRivers, and FanDuel.
- May 11, 2020: BetMonarch joins the list of legal sports betting services.
- May 19, 2020: FOX Bet begins online sports betting in Colorado.
- June 4, 2020: SBK is the latest sportsbook in Colorado.
- June 9, 2020: The Sky Ute Sportsbook is now available.
- June 17, 2020: Betfred Sportsbook begins operations in CO.
- July 1, 2020: Residents of Colorado can now enjoy the Circa Sports Sportsbook.
- July 15, 2020: BetWildwood starts operations for CO residents.
- July 24, 2020: Caesars Sportsbook launches in Colorado.
- August 12, 2020: The Elite Sportsbook makes its Colorado debut.
- October 5, 2020: SuperBook is the next sports betting site to operate in CO.
- November 19, 2020: PointsBet launches its sportsbook.
- November 26, 2020: The next online sportsbook to launch in Colorado was WynnBET.
- March 8, 2021: PlayUp Sportsbook opens its doors to new players.
- March 16, 2021: Play Maverick Sports begins operations in the state of Colorado.
- April 5, 2021: Betway becomes the 19th online sports betting service available.
- May 24, 2021: Bally Bet finally opens to patrons in Colorado.
- August 9, 2021: Barstool is the next sportsbook to launch in CO.
- August 18, 2021: The Tipico Sportsbook becomes the latest to open in Colorado.
- September 7, 2021: The SI Sportsbook launches.
- September 2021: MaximBet launches in Colorado.
- March 4, 2022: The CDG suspends Russian sports betting.
- March 28, 2022: Betsafe opens to residents of CO.
- July 1, 2022: BetWildWood shuts down its mobile app with plans of relaunching in 2023.
- September 1, 2022: Bet365 is the newest sports betting site in the state.
- October 20, 2022: Underdog Sportsbook receives a temporary license to operate in Colorado. Official launch expected in 2023.
- November 16, 2022: MaximBet closes sports betting operations.
- August 11, 2023: WynnBET announces it has closed its online sports betting service.
Colorado Sports Betting Apps
Most sports betting sites have fantastic mobile apps for Android and iOS devices. This is good for us, as making bets on smartphones or tablets is far easier and quicker than visiting a casino. Below is a list of all the sportsbooks you can download for Android and iOS devices.
iOS & Android
- FOX Bet
- Barstool Sportsbook
- Bally Bet
- BetMonarch (Android APK)
- Circa Sports (Android APK)
- Elite Sportsbook
- Maverick Sports
- SI Sportsbook
- Sky Ute Sportsbook
Launch Dates of Colorado Gambling Websites
What makes Colorado such an exciting state for sports betting is the number of operators. There are 23 sports betting services currently available in CO, each of which has a casino partner or associate. Below is a list of all the casinos in Colorado with a sportsbook inside the premises. This can be helpful for anyone who wants to make sports bets in person or anyone who lives close to a casino.
|Sports Betting Site||Retail Location||Sportsbook Launch Date|
|Barstool Sportsbook||Ameristar Casino Black Hawk||November 5, 2020|
|DraftKings||Bally's Black Hawk North Casino||September 25, 2020|
|Caesars Sportsbook||Isle Casino Hotel Black Hawk||July 24, 2020|
|Caesars Sportsbook||Lady Luck Casino Black Hawk||July 24, 2020|
|Maverick Sports||Dragon Tiger Casino||June 10, 2022|
|Maverick Sports||Grand Z Casino||January 2021|
|Maverick Sports||Z Casino Black Hawk||June 17, 2020|
|BetMonarch||Monarch Casino Resort Spa||December 14, 2021|
|Elite Sportsbook||Red Dolly Casino||August 6, 2020|
|Betfred||Saratoga Casino Black Hawk||June 17, 2020|
|SuperBook||The Lodge Casino at Black Hawk||June 25, 2021|
|BetRivers||McGills Hotel and Casino||May 1, 2020|
|PointsBet||Double Eagle Hotel And Casino||November, 2019|
|N/A (IGT)||The Wild Card Saloon||May 1, 2020|
|N/A (IGT)||Sasquatch Casino||May 1, 2020|
|N/A (IGT)||Johnny Nolon’s Casino||June 1, 2020|
|BetWildWood||Wildwood Casino at Cripple Creek||July 21, 2020|
The locations listed above have a retail sportsbook for you to visit, make a bet, and watch the game in style. Some of these lounges have fantastic food and beverages for you to enjoy on game day. There are many benefits to visiting a sportsbook in person, none more so than being able to enjoy your winnings as cash.
Who can Legally Bet on Sports in Colorado?
Each state regulates sports betting activities. That means the rules in one state can vary drastically from the rules in another. Some states do not allow sports betting of any kind, others allow casino games and eSports betting. Most states have set the legal gambling age to 21; others have it as low as 18. Below are the rules for sports betting in Colorado.
- Legal Gambling Age: To place a valid sports bet in the state of Colorado, players must be 21 years of age or older. This applies to anyone making an account at an online sportsbook or any player at a physical casino.
- Mobile Betting: Colorado is a fantastic state for mobile sports betting. There are over 20 mobile apps you can find on your Android or iOS devices. Most apps operate excellently for both smartphones and tablets, meaning you can play on large or small devices with no issue.
- State Lines: As with any state in America, you must be inside Colorado if you wish to place a valid sports bet. Plus, sports betting accounts made in Colorado are only valid for wagers in the Centennial State. You may not make sports bets from any neighboring states, such as Wyoming or Kansas. Doing so can lead to serious punishments, such as account suspension or your winnings being withheld.
- Retail Locations: Colorado is a fantastic state for sports betting as you can make wagers virtually or at one of the many sports betting lounges available across the state. There are multiple locations in different parts of CO, including a variety of casinos with sportsbooks in Black Hawk and Cripple Creek.
- Registration: New players can register online using their PC, smartphone, or tablet. Some sportsbooks allow you to register in person when you visit a casino. A select few sportsbooks only support new players once they have downloaded the appropriate mobile app.
Online Sports Betting Markets in CO
Each of the sports betting sites available in Colorado has a unique collection of sports to bet on. They include the most commonly wagered sports, such as football and basketball. Plus, there is a mix of sports from around the globe, such as winter sports, cycling, and cricket. To help you choose the right sports betting site for you, we have put together an excellent table. The table shows each sport available at every sports betting site.
|Markets||DraftKings||FanDuel||Caesars||BetMGM||PointsBet||Betway||BetRivers||Betfred||FOX Bet||Barstool||SuperBook||Bally Bet||BetMonarch||Bet365||Betsafe||Circa Sports||Elite Sportsbook||Maverick Sports||PlayUp||SI Sportsbook||SBK||Tipico||Sky Ute|
Remember, some sports are seasonal, meaning they might appear or disappear throughout the year. This table gives you an idea of what services typically cater to a wider audience. Sportsbooks like Maverick and PlayUp have a much smaller library to choose from. If you need to know more about a sportsbook before you sign up, check out the other detailed sections we provide below.
What can’t you bet on in Colorado?
Every state has several events that you can’t bet on. In some states, there are tight rules surrounding eSport betting, other states forbid betting on award ceremonies. For those of you who don’t know, eSports betting is when you can bet on professional video game tournaments. Plus, when we say award ceremonies, we mean events like the Oscars or Academy Awards. Below are the events you cannot bet on in the state of Colorado.
- High school games
- Prop bets on sports at a collegiate level
- Political events
Colorado has relaxed rules surrounding sports betting when compared to other states. Some states, like Pennsylvania, have tight restrictions around betting on eSports or award ceremonies. Luckily for residents of Colorado, the restrictions in place are mainly for high school and college events. For those of you wondering, the ban on political wagering is in place nationwide. Meaning no state may take political bets in America.
Types of Bets at Colorado Online Sportsbooks
Now that you have a clear idea of what is illegal to bet on, let’s inspect what you can wager on in Colorado. Each of the wagers we list below is available at any of the sports betting sites we have mentioned above. Some of these wagers involve betting on the result of a game, others require specific events to occur before the game concludes.
- Spread Bets
- Proposition Bets
- Over Unders
- Round Robins
- Same Game Parlays
- Live Bets
If this is your first time making a sports bet, then we have several guides which can help you make your first bet. Simply check out any of our "Betting Guides" for more information about each type of wager. We always recommend new players stick to the simple wagers when first starting. The moneyline, point spread, and over under are often the easiest way to get started. Once you have some confidence, you can experiment with round robins, parlays, and proposition bets.
Tax Rates for Online Gambling Colorado
There is always a lot of confusion surrounding taxes and gambling winnings. But we here at Bet Station want to make everything crystal clear. Whether you win or lose money when gambling throughout the year, declare your activity when filing your taxes. You can declare any profit as a source of income and losses can be deducted.
The state tax rate in Colorado is 4.5% for 2021. However, this rate is proportional depending on how much you earn. A household earning $50,000 a year will only have a 3.37% state tax to worry about. But, residents of Colorado also have to pay federal and FICA taxes. The federal tax rate applies to anyone earning over $13,000 a year. It stretches from 10% up to 37% for the state’s top earners. The FICA tax rate is 7.65% for most earners, up to $140,000. Anyone earning more than this amount will pay less FICA but significantly more federal tax.
Proposition 121 has changed the income tax rate for 2022. In the 2022 tax year, Colorado residents will pay an income tax rate of 4.4%, hopefully leaving us all with more money to enjoy. When the changes take effect, we will update our best Colorado sports betting sites guide.
Colorado Online Sports Betting Revenue
Colorado is a popular state for sports betting. In the 2021-22 tax year, the state saw $4.8bn wagered from players on sports betting alone. Online sports betting is responsible for almost all of this figure, with retail operations accounting for less than $60 million of the total figure. Below is a snippet of the most recent reports from the Colorado Department of Revenue (CDR).
|Type of Sports Betting||August 2022||September 2022||October 2022|
The summer months across the U.S. are always quieter for sports betting, no matter what state you are from. In Colorado, June, July, and August all had less than $350 million staked by players. This is not a small sum of money, but it is not as eye-watering when compared to the amount wagered in September and October. In October, Colorado wagered more than August and July combined. When you consider how much was staked in one month, it’s no wonder sports betting in Colorado made nearly five billion dollars last year.
Payment Methods at CO Sportsbooks
If you compare any two sportsbooks, there is usually a big difference between the payment methods offered. Most sportsbooks will offer players a variety of ways to deposit funds into the sportsbook but only a handful of withdrawal methods. That is why we have put the following tables together, to help you stay in control of your money.
You can use our tables to find the sports betting service that best accommodates your needs. There is nothing worse than not being able to get your winnings easily, so make sure you join the right sportsbook.
Each sports betting service that is licensed to operate in Colorado has a different selection of deposit methods. Some of these methods are strictly online, others allow you to visit a retail location and deposit using cash. Whichever deposit method you are looking for, you will find exactly which sportsbooks are offering it below.
|Payment Method||DraftKings||FanDuel||Caesars||BetMGM||PointsBet||Betway||BetRivers||Betfred||FOX Bet||Barstool||Superbook||Bally Bet||BetMonarch||Bet365||Betsafe||Circa Sports||Elite Sportsbook||Maverick Sports||PlayUp||SBK||Tipico||Sky Ute|
There are over 20 different sports betting sites available in Colorado. That means you do not need to compromise with what you are looking for. You should only sign up for sports betting service that is convenient for you. Do not bend over backward to deposit your funds as there are plenty of convenient methods listed above.
Most of what applies to deposits also matters for withdrawals. You want to join a service that makes it easy and quick to get your winnings. Some of us may want to use an existing payment method, such as a debit card or bank account. Whereas others may want a dedicated account just for sports betting activity, such as a Prepaid Play+ card.
|Payment Method||DraftKings||FanDuel||Caesars||BetMGM||PointsBet||Betway||BetRivers||Betfred||FOX Bet||Barstool||Superbook||Bally Bet||BetMonarch||Bet365||Betsafe||Circa Sports||Elite Sportsbook||Maverick Sports||PlayUp||SBK||Tipico||Sky Ute|
As you would expect, there are far fewer ways to withdraw funds compared to deposits. However, most withdrawal methods are completely free. Typically, methods like PayPal are often the quickest when compared to bank transfers or cash. However, some sportsbooks have additional layers of security. This is where you must make a PayPal deposit to be eligible for a PayPal withdrawal.
Promotions and Bonuses at Colorado Betting Websites
If you have looked over the various sports betting sites available in Colorado and still can’t decide which one is right for you, then the promotions might help. Some sportsbooks are very active with the promotions they give; others do not give players any. To help you know what to look out for, we have put together a list of the most common promotions. This is where you can find out what each promotion is and what is the best sports betting site for each promo.
The best promotion at a sports betting site is a free bet. This is because it is your chance to win actual cash without having to risk any of your own money. A free bet is when you can place a wager on any sporting event completely free. Just remember, you can only win the profit from the bet, not the stake. Plus, the amount the free bet is worth is absolute. You cannot divide a free bet into smaller free bets.
Best Free Bet Sites
- BetRivers: Bet $25 at a World Cup match and receive a $10 live free bet. Bet on NFL same game parlays for a chance to win a share of $500,000 worth of free bets. Place three NBA same game parlays in a week for a free bet. Refer a friend for a $100 free bet.
If you browse several sports betting sites, you will see two different odds boosts. One applies to the wagers boosted by a sportsbook and the other is the opportunity for you to boost your bets in the bet slip. Most sports betting sites will boost specific bets for NFL, NBA, or soccer games, but a select few give you the chance to boost any bet or parlay you want. Below are the best sites for boosting your wagers.
Best Odds Boosts Sites
- Bet365: Get up to a 70% parlay boost on almost any sport, including boxing, MMA, football, basketball, hockey, and baseball. Plus a 70% bonus for tennis parlays with two or more moneyline legs.
- Betway: Up to 25% extra winnings on NFL and NCAAF parlays, the more legs you add, the bigger the bonus.
One of the most common welcome bonuses available for multiple sports betting sites is the risk-free bet. This promotion involves giving new players the freedom to make any bet they want without worrying about losing. If your bet loses, the sportsbook will give you a series of free bets equal to the amount you staked. Some sports betting sites will even match your first wager exactly, meaning you will have a free bet of equal size to enjoy.
Best Risk-Free Bet Sites
- FanDuel: $1,00 risk-free bet for all new players. NFL same game parlay insurance if your four or more leg parlay fails by one. Enjoy up to $25 risk-free for a same game parlay if your three-leg soccer parlay fails by one leg in the World Cup.
- BetMGM: Enjoy a $1,000 risk-free bet for new players. Same game parlay insurance worth up to $25 for the entire World Cup if all legs hit but one. Football, NBA, and NHL same game parlay insurance worth up to $25. EPL $25 one game parlay insurance for the entire season.
Comparison of Colorado Online Sportsbooks
For anyone looking for a sports betting site that specializes in one specific sport, this section is perfect for you. Below we have a table detailing exactly what sports are available at each sportsbook. If that’s not enough for you, we have some more sections for specific events. Anyone looking for the best mobile sportsbooks or fantasy sports sites will find a helpful list below.
|Sportsbook||Number of Sports||CO Retail Location||Fantasy Sports|
Best for Sport
If you have read this far, then odds are you are a big sports fan. If that is the case, then surely you are looking for the sportsbooks with the greatest selection to choose from. You may not decide to bet on table tennis matches in China or basketball in Finland, but it’s good to have the option. Below are some of the best-equipped sportsbooks with contests from all over the globe.
Best for Fantasy Sport
Fantasy sports are another way for you to risk your money on sporting events. However, the difference between sports betting and fantasy sports is the level of control you have. Fantasy contests involve you selecting a team of players who earn points based on real-world performances. Meaning you can get a few things wrong and still win some money. Below are the two best fantasy sports providers that also operate a sportsbook.
Best Mobile App
Betting on a mobile device is the most convenient way to place sports bets in Colorado. Every sportsbook we have mentioned above has a mobile app, but which ones are the best? Below are three sportsbooks that are excellent to use on any touchscreen device.
How to Get Started on Colorado Sportsbooks
Each sportsbook will have a unique process for signing up, but they all follow a similar procedure. If you want to know what it takes to sign up for a sportsbook, this section is here to help. Below, we walk you through all the steps you need to complete if you want to sign up for sports betting in Colorado.
The very first step is to choose a sports betting site from our list. There are 24 options to consider, which may sound overwhelming. However, not every service will suit your needs. Remember, you do not need to be loyal to a sportsbook. If you sign up and find the service hard to use, you can join any of the other sportsbooks we have listed above.
Now that you have chosen a betting site, you will need to register. This will include entering your email, a password, and maybe even a username. After this step, they will ask you for your personal information. They will require your name, address, age, and even your social security number. They use your SSN to verify your identity and age. Some services allow you to take a photo of your ID instead.
In this step, some sportsbooks will ask for a promo code. This is a very important step if you want to receive a bonus. If you forget to enter a promo code here, you will not have a second chance to do so. You must enter a code at this step if you want to receive a bonus. Check the promotions before you sign up to get a code.
The next step is to make a deposit. Making your first deposit is important for receiving a welcome bonus. Some promos require you to deposit a certain amount to claim your bonus. Make sure you read the terms and conditions before you complete this step. It is a real pain to try to convince the support agents to give you more of a bonus.
This last step requires you to browse for a bet you want to place. This step is also important for your welcome bonus, as the size of your bet will affect how much you can get for free. If the sportsbook has a risk-free bet, then the size of your first bet will determine the size of the promotion. Remember, if you win your first bet, then you are not eligible for any additional promotions for the risk-free bet.
Responsible Gambling Colorado
Colorado, like many other states, takes responsible gambling seriously. That’s why you can visit the Colorado Department of Revenue for help and support around sports betting. There is a dedicated section for filing complaints in situations where sportsbooks are withholding your money. They also have a 24-hour helpline for anyone struggling with gambling issues. Simply call 1-800-522-4700 for further help. The CDR also has a useful section listing all the gambling support charities available to Colorado residents.
Colorado Frequently Asked Questions
What sports betting sites are legal in Colorado?
There are 23 online sports betting sites available in Colorado. They include DraftKings, FanDuel, Caesars, BetMGM, PointsBet, Betway, BetRivers, Betfred, FOX Bet, Barstool, SuperBook, Bally Bet, BetMonarch, Bet365, Betsafe, Circa Sports, Elite Sportsbook, Maverick Sports, PlayUP, SI Sportsbook, SBK, Tipico, and the Sky Ute Sportsbook.
Can I use DraftKings in Colorado?
Yes. Residents of Colorado have access to most of DraftKings' services. You can enjoy sports betting, fantasy sports, and the NFT Marketplace. If you want to visit a retail location, there is a DraftKings sportsbook inside Bally's Black Hawk North Casino.
Does FanDuel work in Colorado?
FanDuel is one of the 23 sports betting services licensed to operate in Colorado. That includes both the mobile sportsbook and the fantasy sports section. Unfortunately, there are no FanDuel retail locations in Colorado at this time.
Can you use Caesars Sportsbook in Colorado?
Caesars Sportsbook is a legal and licensed sports betting provider for the state of Colorado. You can make bets using the mobile app, or you can visit one of the two retail locations. The Isle Casino Hotel Black Hawk and the Lady Luck Casino Black Hawk both have fantastic sportsbooks inside.
What is the legal gambling age in Colorado?
The legal gambling age in Colorado is 21. That applies to casino games, such as slots, poker, and craps. Plus, it also applies to sports betting, whether in person or on a mobile device.
Where can I place a bet in person in Colorado?
There are just fewer than 20 locations in Colorado where you can place a sports bet in person and play casino games. Most of these locations are in Black Hawk, but there are a few exceptions. For example, Cripple Creek.
Can you bet online in Colorado?
Online sports betting has been legal in the state of Colorado since 2020. On May 1st, BetMGM, FanDuel, DraftKings, and BetRivers all went live statewide. Since then, twenty other sportsbooks have received licenses to operate in the state.