Colorado Legal Sports Betting Overview
CO Sports Betting Law Details
Status
Colorado legalized sports betting on May 1, 2020 following a public referendum. The referendum, Proposition DD, passed with a 51.4% margin. This came after Governor Jared Polis signed HB 1327 in May 2019, following a legislative push from Representative Alec Garnett.
Retail Sports Betting Launch Date: May 1, 2020
Online Sports Betting Launch Date: May 1, 2020
Licensed Sportsbooks:
- Bally Bet
- Barstool Sportsbook
- Betfred
- BetMGM
- BetMonarch
- BetRivers
- Betway
- BetWildwood
- Caesars
- Circa Sports
- DraftKings
- Elite Sportsbook
- FanDuel
- FOX Bet
- MaximBet
- Play Maverick Sports
- PlayUp
- PointsBet
- SBK
- SI Sportsbook
- Sky Ute Sportsbook
- SuperBook Sports
- theScore Bet
- Tipico Sportsbook
- TwinSpires
- WynnBET
Legal Wagering Options:
Colorado allows wagering on futures, moneylines, point spreads, and props. However, college games are excluded from prop betting.
Legal Gambling Age in CO:
The legal gambling age in Colorado is 21 and above.
Sports to Bet On:
Colorado offers betting options on various sports, including NFL, NBA, MLB, NHL, MLS, motorsports, MMA, rugby, table tennis, and college sports (excluding props).
Permitted Banking Options:
- Discover
- Mastercard
- PayNearMe
- PayPal
- Play+
- Skrill
- Stars Transfer
- VanillaDirect
- Visa
- Casino Cage Cashier
- Online Bank Transfer
- Wire Transfer
- VIP Preferred eCheck
Colorado Gambling Regulator:
Colorado’s gambling activities are regulated by the Colorado Limited Gaming Control Commission.
Colorado Legalized Sports Betting
On May 1, 2020, Colorado joined the list of states that have legalized sports betting. This decision came after a public referendum, Proposition DD, which passed by a narrow margin of 51.4%. The legalization of sports betting in Colorado was made possible by the signing of HB 1327 by Governor Jared Polis in May 2019.
To ensure a fair and regulated betting environment, each new sportsbook in Colorado is required to partner with one of the state’s 42 commercial casinos. As of July 2022, there are 17 retail sportsbooks located in land-based casinos across Black Hawk, Central City, and Cripple Creek. Additionally, there are nine online-only sportsbooks operating in the state.
Colorado’s sports betting market is characterized by a diverse range of brands, including well-known names such as BetMGM, Caesars, and FanDuel, as well as local bookmakers like BetWildwood. The legalization of sports betting has given rise to a thriving market in the Centennial State, offering bettors a wide range of options when it comes to sportsbooks, bonuses, and complying with the latest regulations and requirements.
Colorado Online Sportsbooks Compared
Colorado bettors have a multitude of options when it comes to online sportsbooks. To help you choose the right one for you, we’ve compared some of the top sportsbooks available in Colorado and highlighted their strengths in different areas.
Best Mobile App – DraftKings
DraftKings offers a user-friendly mobile app experience, available on both Android and Apple devices. The app provides easy navigation and a seamless registration process. Additionally, DraftKings offers generous promotions, making it a great choice for bettors looking to boost their bankroll.
Best Welcome Bonus – BetRivers
BetRivers stands out with its 100% deposit match bonus of up to $250. While the bonus may not cater to high rollers, its 1x wagering requirement offers a good chance to boost your bankroll. The sportsbook provides clear instructions on how to redeem the bonus, and its user-friendly interface makes it easy to find markets for your bonus funds.
Best for Competitive Odds – FanDuel
FanDuel offers competitive odds, particularly on popular markets. The sportsbook frequently runs boosted betting odds and special bets, providing bettors with attractive opportunities. With its wide range of sports market coverage, FanDuel is a top choice for those seeking competitive odds.
Best for Market Coverage – FanDuel
FanDuel excels in terms of sports market coverage, featuring all major league sports such as NFL, NBA, MLB, and NHL. It also offers betting options for international soccer, tennis, and niche sports like MMA and motorsports. FanDuel’s same-game parlay feature further enhances the betting experience for users.
Best for Beginner Bettors – Caesars
Caesars is an excellent choice for beginner bettors due to its user-friendly platform and variety of deposit and withdrawal methods. The sportsbook offers first bet insurance up to $1,250, providing an extra layer of security for new bettors. If your first wager loses, Caesars will credit your account with bet credits equivalent to your initial wager, allowing you to try out the sportsbook further.
Best for Payout Speed – Betway
Betway is known for its speedy withdrawal process, with all withdrawal requests processed within 48 hours. In some cases, payments are completed even faster, depending on the need for additional security checks. Additionally, Betway offers instant e-wallet transactions, ensuring a seamless betting experience for users.
NFL Betting Guide
For NFL enthusiasts, Colorado sportsbooks provide a comprehensive betting experience. From live markets and schedules to expert tips and scores, bettors can access all the necessary information in one place to make informed wagers on NFL games.
NBA Betting Guide
Basketball fans can also enjoy a thrilling betting experience with Colorado sportsbooks. Our NBA betting guide offers insights into the top sportsbooks and provides valuable tips on how to make the most of your NBA bets.
MLB Betting Guide
For those looking to bet on Major League Baseball, Colorado sportsbooks have you covered. Our MLB betting guide offers a wealth of information, including odds and lines, prop bets, and futures, ensuring a rewarding betting experience for baseball enthusiasts.
How Does Colorado Compare to Other States?
When it comes to sports betting, Colorado stands out in various aspects. Let’s take a closer look at how the state compares to others:
Market Coverage
Colorado sportsbooks cover a wide range of sports markets, including major US sports, international soccer, and niche sports like MMA and motorsports. However, the state does not permit betting on entertainment events like awards shows and has restrictions on eSports betting. While Colorado allows betting on college sports, player prop wagers are not permitted for these games.
Competitive Odds & Prices
Colorado’s betting market is highly competitive, with sportsbooks offering some of the most competitive odds in the industry. With big brands operating in the state and no noticeable difference in betting odds compared to other states, Colorado bettors can enjoy favorable odds and prices.
Gambling Revenue
Colorado has established itself as one of the largest betting markets in the US. Since its launch, the state has generated over $6 billion in betting handle, surpassing states with larger populations, such as Michigan. The tax rate for sportsbook operators in Colorado is 10%, and as of now, the state has collected over $16 million in revenue from sports betting.
Betting Taxes
The Internal Revenue Code imposes a 0.25% tax on betting handles for sportsbooks. Additionally, there is a $50 tax for each employee involved in taking wagers. Colorado imposes a state tax of 10% on sportsbook operators, which is considerably lower than the 51% tax rate in New York. It is important for bettors to declare all betting profits to the IRS and include them in their tax filings. Profits exceeding $600 must be reported on a W-2G form. Sportsbooks may also withhold up to 25% of winnings for tax purposes.
How to Place a Bet in Colorado
If you’re ready to dive into the exciting world of sports betting in Colorado, follow our simple guide to register and place your first bet:
- Choose an online sportsbook from the available options in Colorado.
- Download the sportsbook’s mobile app or visit their website on your mobile browser.
- Create an account by providing your personal details, such as your full name, address, phone number, and the last four digits of your Social Security number.
- Visit the cashier section of the sportsbook to deposit funds into your account. Take advantage of any deposit welcome bonuses that may be available.
- Browse the sportsbook’s markets and add your desired wager to the bet slip.
- Choose your bet amount, either using your deposited funds or any available bonus funds.
- Place your bet and wait for the outcome to see if you’re a winner.
- If you win, you can withdraw your winnings by following the sportsbook’s withdrawal process.
Banking Methods Available in Colorado
Colorado sportsbooks offer a variety of convenient banking methods for deposits and withdrawals. Some of the popular options include:
- Visa
- Mastercard
- PayPal
- Skrill
- Play+
- Online Bank Transfer
- Wire Transfer
- VIP Preferred eCheck
It’s important to note that while Visa and Mastercard are often available as deposit options, some sportsbooks may only offer them for deposits and not withdrawals. Additionally, popular e-wallets like PayPal and Skrill provide speedy withdrawals on average. Prepaid cards like Play+ and PayNearMe are also commonly accepted, offering additional convenience for bettors.
Who is Not Eligible to Bet in CO?
While sports betting is legal in Colorado for individuals 21 years and older who are within state lines, certain individuals are prohibited from placing bets. These include:
- 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
Here are the most recent updates regarding the sports betting landscape in Colorado:
Current Sports Betting Status in Colorado
Sports betting was legalized in Colorado in May 2019, but it officially launched on May 1, 2020. The regulations required approval from voters in a referendum before betting could commence. Colorado sportsbooks are not authorized to offer betting on entertainment events such as the Oscars. Additionally, eSports betting is restricted, and there are limitations on player prop wagers for college sports.
Timeline for Sports Betting in Colorado
Here are some key milestones in the timeline of sports betting in Colorado:
- March 2022: Betsson chooses Colorado as the ideal state to launch its Betsafe brand in the US.
- March 16, 2021: Play Maverick Sports is launched, increasing the number of sportsbook operators in Colorado.
- May 1, 2020: Online and retail sports betting officially launches in Colorado with prominent providers such as BetMGM, BetRivers, DraftKings, and FanDuel.
- November 7, 2019: Proposition DD is featured in the Colorado referendum and passes by a small margin.
- May 29, 2019: Governor Jared Polis signs HB 1327 into law, paving the way for a public referendum.
- May 21, 2019: House majority leader Rep. Garnett introduces HB 1327 to the Colorado General Assembly.
- May 2018: The US Supreme Court overturns the Professional and Amateur Sports Protection Act of 1992 (PASPA), granting states the right to legalize sports betting.
Colorado Sports Betting Background
Compared to many states where gambling is legal, Colorado has a longstanding history in the industry. Horse racing and greyhound betting were legalized in 1948, followed by the establishment of the Colorado Lottery in 1983. In 1990, limited casino gambling was permitted under the Colorado Limited Gaming Initiative. Prior to the legalization of sports betting, there was limited demand for such activities. However, in 2019, Amendment 50 expanded the definition of certain casino games and raised maximum bets to $100. It wasn’t until 2019, following the Supreme Court ruling on PASPA, that sports betting legislation was introduced in Colorado.
Future of Colorado Sports Betting
Colorado’s sports betting market is expected to continue expanding. The state is likely to see additional operators enter its borders, building on the 26 sportsbooks currently available. bet365 has recently signed a partnership with Century Casino and is set to launch its sportsbook in the Centennial State. Furthermore, there have been discussions about legalizing online casino gambling, which would allow for a broader range of gaming options.
Online Sportsbooks
For a detailed comparison of the top online sportsbooks available in Colorado, check out our list of recommended platforms. These sportsbooks offer the best promotions and biggest bonuses to enhance your betting experience.
Odds Calculator
Our odds calculator simplifies the process of calculating potential profits. Simply input your stakes and odds, and our tool will do the rest, providing you with an estimate of your potential profit.
Betting Lines
Understanding different betting lines can be essential for successful wagering. We provide a comprehensive guide on how to use betting lines across all major league sports, helping you make informed decisions when placing bets.
Colorado Sports Betting Locations
Colorado is home to a variety of commercial casinos where sportsbooks are available. These casinos are primarily located in three towns: Black Hawk, Central City, and Cripple Creek. Here are some notable sports betting locations in Colorado:
Ameristar Casino Black Hawk
Address: 111 Richman Street, Black Hawk, CO 80422
Operator: Barstool Sportsbook
Ameristar Casino Black Hawk has partnered with Barstool Sportsbook to provide a retail sportsbook experience. The second-floor venue features a 24-foot video wall, 13 betting kiosks, and 29 HDTVs. In addition to the sportsbook, Ameristar Casino offers a wide range of other gambling options, including 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
Operator: DraftKings
Bally’s Black Hawk North, also known as Golden Mardi Gras Casino, has partnered with DraftKings to offer a premium sportsbook lounge. The casino features a large video wall and 11 additional 65″ TVs for an immersive betting experience. Visitors can also enjoy a full-service kitchen and craft cocktails at the bar. The venue includes an exclusive VIP lounge for private sports betting events.
Lady Luck Casino
Address: 340 Main Street, Black Hawk, CO 80422
Operator: Caesars
Lady Luck Casino partners with Caesars to offer a kiosk-only retail sportsbook. Bettors can enjoy a wide range of sports betting options, including football, baseball, basketball, auto racing, soccer, ice hockey, MMA, and boxing. Additionally, players can redeem Caesars Rewards at the casino and hotel, providing access to various discounts and complimentary rooms.
Note: The above are just a few examples of sports betting locations in Colorado, and the state has many more casinos offering retail sportsbooks.
Colorado Lottery Locations
The Colorado Lottery, established in 1983, operates separately from sportsbooks in the state. Retailers of lottery tickets do not offer sports betting. However, the Colorado Lottery has made significant contributions to the state’s funds. The lottery’s software is provided by IGT, which also supplies technology for retail sportsbooks like Sasquatch Casino. Simultaneously, the lottery and retail sportsbooks are distinct entities, and lottery retailers are not expected to offer sports betting anytime soon.
Off-Track and Stadium Betting Locations
Colorado has one horse race track, Arapahoe Park in Aurora, where bettors can enjoy horse racing and wager on races. In addition, several off-track betting (OTB) providers overseen by the Colorado Racing Commission offer betting on various horse races. Simulcast betting on horse and greyhound races from other locations is also available. However, stadium betting is not permitted, as sportsbooks can only partner with land-based casinos for retail sportsbooks.
Teams to Bet on in Colorado
Pro Sports
- Denver Broncos: The Denver Broncos are one of the most successful NFL teams, having won three Super Bowls.
- Denver Nuggets: The NBA’s Denver Nuggets consistently provide an exciting basketball experience, competing against renowned teams in the league.
- Colorado Rockies: The MLB’s Colorado Rockies are known for their thrilling performances and have qualified for the postseason multiple times.
- Colorado Avalanche: The NHL’s Colorado Avalanche has won two Stanley Cups and boasts an impressive track record in the sport.
College Sports
- Air Force Falcons: Representing the United States Air Force Academy, the Falcons have numerous NCAA-sanctioned teams.
- Colorado Buffaloes: The University of Colorado’s Buffaloes have a rich sports history and offer 17 varsity sports teams.
- Colorado State Rams: The Rams participate in the Mountain West Conference and enjoy success in various sports.
- Denver Pioneers: The University of Denver’s Pioneers boast a strong athletics program, excelling in ice hockey and other sports.
- Northern Colorado Bears: The University of Northern Colorado’s Bears compete in multiple varsity sports, including basketball and tennis.
Women’s Sports
- Denver Bandits: The Denver Bandits football team forms part of the Women’s National Football Conference (WNFC) and plays its home games in Aurora.
Colorado Responsible Gambling Resources
Colorado offers various resources to promote responsible gambling and support those who may be struggling with a gambling problem. Some of the available resources include:
- Colorado Department of Revenue Problem Gambling Resources: Provides a 24/7 helpline and live chat options for individuals seeking assistance with problem gambling. The website also offers links to additional organizations locally and nationally that can provide support.
- Problem Gambling Coalition of Colorado: Offers a free helpline, resources, and treatment advice in both English and Spanish. This coalition provides valuable support for individuals affected by problem gambling.
- Colorado Gaming Association: Provides information on responsible gambling measures taken by casinos in Colorado, including employee training, self-exclusion programs, and links to support organizations. The association also offers insights into the odds of casino games.
Colorado sportsbooks are required to provide access to the state’s self-exclusion program and offer responsible gambling tools, such as deposit limits and spend limits. By implementing these measures, operators aim to provide a safe and secure betting environment for their customers.
Who Oversees Sports Betting in Colorado?
Sports betting activities in Colorado are regulated by the Colorado Limited Gaming Control Commission (CLGCC). The CLGCC enforces state sports betting laws and regulations, issuing fines when necessary and collecting taxes. The Gaming Division of the Colorado Department of Revenue assists the CLGCC in its duties. The CLGCC holds the final authority in all matters related to sports betting in the state, and its regulations ensure a secure environment for bettors. Licensed casinos in Colorado, which already hold limited gaming licenses, are the only entities eligible to receive master licenses, which are necessary for operating sports betting activities. The CLGCC ensures the compliance of sportsbooks with relevant regulations, including the use of geolocation software to confirm that bettors are within state boundaries when placing bets.
Conclusion
Colorado’s legalization of sports betting in 2020 has opened up a new and exciting market for bettors in the state. With a diverse range of sportsbooks, competitive odds, and a variety of banking options, bettors can enjoy a superior betting experience. The CLGCC ensures a fair and regulated environment for sports betting, and responsible gambling resources are available to assist those in need. Whether you’re a seasoned bettor or new to the world of sports betting, Colorado offers a wealth of opportunities to enjoy your favorite sports and potentially win big.
FAQs (Frequently Asked Questions)
Is betting legal in Colorado?
Yes, both online and retail sports betting are legal in Colorado. Bettors can place wagers on various sports from anywhere within the state.
Who governs sports betting in Colorado?
The Colorado Limited Gaming Control Commission (CLGCC) is responsible for licensing and regulating sportsbooks in the state. The commission is assisted by the Gaming Division of the Colorado Department of Revenue.
How old do you have to be to bet in Colorado?
To place legal bets in Colorado, you must be at least 21 years old and within state borders.
When did sports betting launch in Colorado?
Sports betting officially launched in Colorado on May 1, 2020. The launch followed the signing of HB 1327 by Governor Jared Polis and the approval of Proposition DD in a November 2019 referendum.
What sportsbooks are legal in Colorado?
Colorado has an array of legal online sportsbooks operating in the state. Some of the prominent brands include Barstool Sportsbook, WynnBET, and PointsBet, along with local bookmakers like BetWildwood and Elite Sportsbook.
Are sportsbooks in Colorado safe?
Absolutely. Colorado sportsbooks, licensed by the CLGCC, are required to adhere to strict security standards, ensuring the safety of bettors’ information and transactions.
Do I have to pay taxes on betting winnings in Colorado?
Yes, betting profits in the US are subject to IRS taxes. Bettors must report their winnings on a W-2G form and pay the necessary taxes. Sportsbooks may also withhold a portion of winnings for tax purposes.
Can you play DraftKings in Colorado?
Yes, DraftKings is available for betting in Colorado and can be accessed through their desktop site or mobile app.
Can you play FanDuel in Colorado?
Yes, bettors in Colorado can enjoy FanDuel’s offerings and utilize their extensive range of betting options.
Can you play BetMGM in Colorado?
BetMGM is indeed available in Colorado through their partnership with Midnight Rose Casino.
Can you play Caesars in Colorado?
Yes, Caesars holds a license in Colorado and operates through its partnership with the Lady Luck Casino.
Can you play TwinSpires in Colorado?
While TwinSpires is available in Colorado, the operator has announced plans to shut down its sports betting operation. However, it will continue offering its horse racing betting platform.
Which sportsbooks will be available in Colorado in the future?
bet365 is set to launch its sportsbook in Colorado soon, following its partnership with Century Casino. The operator may also consider opening a retail sportsbook.
