Colorado Sports Betting

Colorado Legal Sports Betting Overview

Colorado Sports Betting Summary

Colorado legalized sports betting on May 1, 2020 following a public referendum, where Proposition DD passed with a 51.4% margin. This came after Governor Jared Polis had signed HB 1327 in May 2019 following a legislative push from Representative Alec Garnett.

Each new Colorado sportsbook had to partner with one of CO's 42 commercial casinos to launch in the state. As of July 2022, Colorado has 17 retail sportsbooks in land-based casinos across Black Hawk, Central City, and Cripple Creek, with a further nine operating solely online. With brands like BetMGM, Caesars, and FanDuel complemented by local bookmakers such as BetWildwood, the Centennial State's betting market is diverse. Read our complete guide to discover the best sportsbooks, bonuses, and the latest regulations and requirements to wager in Colorado.

Colorado Online Sportsbooks Compared

Bettors are spoiled for choice with a host of Colorado sportsbooks available online. To help you to choose which to bet with, we’ve compared the top sportsbooks in CO and uncovered which brand does what best.

• Best Mobile App – DraftKings

DraftKings' sportsbook app offers you a straightforward mobile experience, from registration to withdrawing your winnings. The app is available on Android and Apple devices and features easy navigation, especially when moving between markets. You’ll also have access to generous promotions, perfect for topping up your bankroll.

Claim your DraftKings Sportsbook promo code for Nov 2024.

• Best Welcome Bonus – BetRivers

BetRivers' deposit match bonus of 100% up to $250 is perfect for both casual and experienced bettors. The reward may not be large enough to attract high rollers, but its 1x wagering requirements give you a good shot at boosting your bankroll. BetRivers makes it clear how to redeem this bonus, and the easy-to-navigate sportsbook makes finding a market for these bonus funds easy.

Claim your BetRivers Sportsbook promo code for Nov 2024.

• Best for Competitive Odds – FanDuel

Most sportsbooks in Colorado offer you competitive odds, but FanDuel has a marginal edge with their betting lines on popular markets. In addition, the sportsbook often runs boosted betting odds and special bets, which are easy to find on its main page.

Get your FanDuel Sportsbook promo code for Nov 2024.

• Best for Market Coverage – FanDuel

FanDuel is currently on top when comparing sports market coverage. You can bet on all major league sports like the NHL, NBA, NFL, and MLB, as well as international soccer, tennis, and many more niche sports like MMA and motorsports. Plus, you can use the same-game parlay feature on many of the most popular sports.

• Best for Beginner Bettors – Caesars

Caesars offers a variety of deposit and withdrawal methods, which makes getting started on its user-friendly app easy. The sportsbook provides first bet insurance up to $1,250 for all new bettors. If your first wager loses, you get bet credit equal to 100% of your first wager, giving beginner bettors more bets to try out the sportsbook.

Get your Caesars Sportsbook promo code for Nov 2024.

• Best for Payout Speed – Betway

Betway has earned a reputation for processing all withdrawal requests within 48 hours. Sometimes these payments are completed quicker if further security checks aren’t required. The sportsbook can also complete e-wallet transactions instantly.

How Does Colorado Compare to Other States?

• Market Coverage

Colorado sportsbooks cover every major US sports market and more niche sports. However, the state does not permit betting on entertainment events, like awards shows, and restricts eSports betting. Colorado allows betting on college sports, but does not permit player prop wagers on these games.

• Competitive Odds & Prices

The Colorado betting market is loaded with sportsbook operators, so it’s no surprise it has some of the most competitive odds. Big brands operating in Colorado also provide betting in other states, and we found no noticeable difference between the sports betting odds elsewhere and in Colorado.

• Gambling Revenue

Colorado has become one of the biggest betting markets in the US and, as of May 2022, had brought in $6,047,510,354 in betting handle since its launch. That’s more than Michigan, which has almost double the population. The Colorado sportsbook operator tax rate is 10%, and the state has collected $16,428,256 from sportsbook revenue of $380,160,523. Its best month came in November 2021, when the state earned nearly $2 million in taxes.

• Betting Taxes

The Internal Revenue Code sets that sportsbooks must pay 0.25% tax on betting handles. There is an additional $50 tax for every employee involved in taking wagers. A state tax of 10% is currently in place for sportsbook operators, which is considerably lower than the 51% New York sportsbooks must pay.

You must declare all betting profits to the IRS when filing your taxes. If you make a profit of over $600 at a sportsbook, you must add this to a W-2G form. Sportsbooks also have the right to hold up to 25% of your winnings for tax purposes.

How to Place a Bet in Colorado

Colorado is a state with passionate sports fans, but some may be new to placing wagers. If you’re ready to enjoy some exciting sports betting, follow our guide below to register and place your first bet within minutes:

1. Choose from the online sportsbooks in Colorado to find the perfect operator for you.

2. Download the app of your chosen sportsbook from the Apple App Store or Google Play Store. Or, you can visit their site from your mobile browser.

3. Register an account by entering personal details like your full name, address, phone number, and the last four digits of your Social Security number.

4. Visit the cashier section of your sportsbook to fund your account. If your sportsbook offers a deposit welcome bonus, you can unlock your rewards here.

5. Browse your sportsbook’s markets. Add a wager to your bet slip, choose your bet amount using your welcome bonus funds, and place the bet.

6. If you win your first bet, return to the cashier section, and the sportsbook will guide you through making a withdrawal.

Who is Not Eligible to Bet in CO?

If you are 21 years old or over and within Colorado state lines, you can place bets with retail and online sportsbooks. However, specific jobs and roles of authority will prevent you from placing sports bets, including:

• College sports athletes, team members, and staff.

• Professional sports athletes, team members, and staff.

• Referees involved with major league, minor league, and college competitions.

• Individuals with authority to influence professional or college athletes and team members.

• Individuals working for sports leagues to create regulations (e.g., NCAA, NBA).

• Individuals who have a stake in a sports team.

• People with non-public information about sports teams and sports leagues (e.g., player medical records).

• Employees of sports betting operators and casinos with sportsbook licenses, including directors, officers, owners, and key staff.

• People on a self-exclusion program at a federal or state level.

• People prohibited from betting at a federal or state level (e.g., due to criminal history).

Latest Colorado Sports Betting Updates

Timeline for Sports Betting in Colorado

• March 2022: Betsson, a popular European sports betting operator, chooses Colorado as the perfect state to launch its Betsafe brand in the US.

• March 16, 2021: With the launch of Play Maverick Sports, Colorado officially has five times as many operators as when the state first launched sports betting.

• May 1, 2020: Online and retail sports betting launches in the state, with providers BetMGM, BetRivers, DraftKings, and FanDuel opening their doors to Colorado bettors.

• November 7, 2019: Proposition DD features in the Colorado referendum. Despite an issue that didn’t allow for an explanation of the planned tax structure, sports betting passes by a small margin of 43,982 “Yes” votes.

• May 29, 2019: Gov. Polis signs HB 1327 into law. Due to the Taxpayer Bill of Rights, the legislation goes to a public referendum.

• May 21, 2019: The Speaker of the House, Kathleen Collins Becker, signs off HB 1327 and sends it to Gov. Polis.

• April 18, 2019: House majority leader Rep. Garnett introduces HB 1327 to the Colorado General Assembly.

• May 2018: The US Supreme Court declares the Professional and Amateur Sports Protection Act of 1992 (PASPA) unconstitutional. Ultimately, this ends Nevada’s effective monopoly on sports betting and gives every state the right to legalize sports wagering.

Colorado Sports Betting Background

Compared to many US states where gambling is legal, Colorado has a long history, with pari-mutuel betting on horse racing and greyhounds legalized in 1948. The state established the Colorado Lottery in January 1983, and in 1990, restricted casino gambling became legal thanks to the Colorado Limited Gaming Initiative. The law only allowed maximum bets of $5, and casinos couldn’t stay open for 24 hours.

Before the PASPA ruling, there wasn’t much demand for sports betting in the state. Yet, in 2009, Amendment 50 changed the definitions of certain casino games from the Colorado Limited Gaming Act and raised the maximum bet to $100. In 2014 Gov. John Hickenlooper made greyhound racing illegal. However, the state saw no sports betting legislation put forward until 2019.

Future of Colorado Sports Betting

Colorado continues to expand the number of operators available within its borders beyond the current 26 sportsbooks. bet365 recently signed a partnership with Century Casino and will soon launch in the Centennial State.

In addition, there have been discussions about legalizing an online casino gambling market. The wording of the current laws includes mention of “electronic versions of slot machines, craps, roulette, and card games of poker and blackjack,” which has encouraged excitement.

Colorado Sports Betting Locations

There are 42 commercial casinos in Colorado, mainly spread across three towns in the mountains. Every sportsbook operating in CO requires a casino partner, and 17 of these establishments have launched retail sportsbooks as a part of these agreements.

Ameristar Casino Black Hawk

• Address: 111 Richman Street, Black Hawk, CO 80422

• Website: https://www.ameristarblackhawk.com/

• Phone Number: (720) 946-4000

• Operator: Barstool Sportsbook

Ameristar Casino Black Hawk has partnered with Barstool Sportsbook to launch a retail sportsbook on the second floor of the venue. You can find a 24-foot video wall, 13 betting kiosks, and 29 HDTVs. With every wager placed, you can earn loyalty rewards with their mycash and mychoice points. Aside from the sportsbook, Ameristar Casino boasts over 1,250 slots, 40 table games, and 22 live poker tables.

Bally's Black Hawk North

• Address: 300 Main Street, Black Hawk, CO 80422

• Website: https://www.ballys.com/black-hawk/

• Phone Number: (303) 582-5600

• Operator: DraftKings

Bally’s Casino Black Hawk, otherwise known as Golden Mardi Gras Casino, has partnered with DraftKings to offer a premium sportsbook lounge. The casino boasts a large video wall and 11 additional 65” TVs for an immersive experience. You can also find a full-service kitchen and a bar offering craft cocktails. An exclusive VIP lounge is available if you want to host a private sports betting event.

Lady Luck Casino

• Address: 340 Main Street, Black Hawk, CO 80422

• Website: https://www.ladyluckblackhawk.com/

• Phone Number: (303) 998-7777

• Operator: Caesars

Lady Luck Casino’s partnership with Caesars resulted in the launch of a kiosk-only retail sportsbook. You can bet on football, baseball, basketball, auto racing, soccer, ice hockey, MMA, and boxing. You can also redeem Caesars Rewards at the casino and hotel. Real-life rewards include discounts and complimentary rooms.

Colorado Land-Based Casinos

Colorado Lottery Locations

The Colorado Lottery launched in January 1983 and has made over $3.7 billion for the state’s benefit. However, the organization has no affiliation with any sportsbooks operating in the state. IGT will continue to provide the software for the lottery until 2025. Similarly, the developer also supplies the technology for Colorado retail sportsbooks, like Sasquatch Casino. However, lottery retailers are unlikely to start providing sports betting in the Centennial State.

Off-Track and Stadium Betting Locations

There is currently one horse race track where you can watch and wager on horse racing in Colorado. That’s Arapahoe Park, Aurora. Yet, several off-track betting (OTB) providers across the state overseen by the Colorado Racing Commission offer betting on a wide range of horse races. There is also simulcast betting on horse and greyhound races elsewhere, despite greyhound racing becoming illegal in the state in 2014.

No stadium betting is available, as sportsbooks can only partner with land-based casinos to offer retail sportsbooks.

Teams to Bet on in Colorado

• Pro Sports

Denver Broncos: The Denver Broncos didn’t make an impact during its time in the American Football League (AFL) and the first seven years in the NFL. However, since 1975, the Broncos have become one of the NFL’s successful teams, having suffered only eleven losing seasons and winning three Super Bowls.

Denver Nuggets: The NBA's Denver Nuggets have not appeared in the postseason finals since its last year in the American Basketball Association (ABA). Therefore, this makes them the only surviving former ABA team to have never reached the NBA Finals since the league merger in 1976. The Nuggets currently play all home games at Ball Arena.

Colorado Rockies: MLB’s Colorado Rockies have qualified for the postseason five times, each time as a Wild Card Winner. The team earned its first (and only) National League pennant in 2007 after winning 14 of their final 15 games, capping the streak with a 13 inning 9-8 victory against the San Diego Padres in a tiebreaker game known as “Game 163” by their fans.

Colorado Avalanche: The NHL’s Colorado Avalanche has won two Stanley Cups, winning the trophy both times it reached the NHL Finals. Since moving to Denver, the team has won ten division titles and set the league record for the most consecutive division titles (9).

• College Sports

Air Force Falcons: Representing the United States Air Force Academy, the athletics department has 17 men’s and 10 women’s NCAA-sanctioned teams.

Colorado Buffaloes: Representing the University of Colorado, the “Buffs” currently have 17 varsity sports teams. The Buffaloes have won 27 national championships, with many coming in skiing.

Colorado State Rams: The Rams athletic teams compete with eight other institutions in the Mountain West Conference. The Rams have won nine MWC tournament championships and won or shared 11 regular-season titles for Colorado State University.

Denver Pioneers: Currently, the Pioneers sponsor 17 varsity teams, including men’s and women’s basketball, swimming, and diving. The University of Denver team has seen tons of success, with the tied most NCAA ice hockey national championships (9).

Northern Colorado Bears: The Bears represent the University of Northern Colorado and sponsor 17 varsity teams, including men’s and women’s cross country, golf, basketball, and tennis.

• Women’s Sports

Denver Bandits: The Denver Bandits play football in the Women’s National Football Conference (WNFC). The team joined the league for its inaugural season in 2019 and plays its games at the Aurora Public Schools Stadium.

Colorado Responsible Gambling Resources

• Colorado Department of Revenue Problem Gambling Resources – Provides a 24/7 helpline and live chat for those struggling with problem gambling. It also offers links to further organizations locally and nationally. (800) 522-4700

• Problem Gambling Coalition of Colorado – Includes a free helpline, resources, and treatment advice. These resources come in English and Spanish. (800) 226-0435

• Colorado Gaming Association – Details the training casino employees receive in Colorado and information on the self-exclusion program. The site also refers you to further help and gives you information on the odds of casino games.

State-mandated problem gambling measures require every sportsbook to provide access to the self-exclusion program. Problem gamblers can opt out of all gambling sites in the state thanks to regulations by the Colorado Gaming Association and the Problem Gambling Coalition of Colorado. In addition, Colorado sportsbooks need to supply responsible gambling tools like deposit limits and spend limits. Operators also need to offer links to further support organizations, like Gamblers Anonymous and Gamtalk.

Who Oversees Sports Betting in Colorado?

The Colorado Limited Gaming Control Commission (CLGCC) enforces state sports betting laws and regulations by issuing fines and collecting taxes. It also administers the state’s three gambling licenses: sports betting operator, master license, and internet sports betting operator. While the Gaming Division of the Colorado Department of Revenue assists the CLGCC, the latter has the final say on all matters.

All the casinos in Colorado already hold a limited gaming license and would therefore be the only entities able to receive a master license. The other two licenses are specific to online and retail sportsbooks. A casino with a master license can partner with a sportsbook to help it obtain a sports betting operator or internet sports betting operator license.

The CLGCC ensures that sportsbooks across the state create a safe and secure environment for bettors, including geolocation software on their websites. This technology makes certain that anyone using the site for betting is within state lines.