Colorado Online Sports Betting Guide

Online sports betting is legal and live in Colorado, with state-wide mobile betting launching on May 1, 2020. On this date, four market-leading operators went live – DraftKings, BetMGM, BetRivers, and FanDuel – with 14 other licensed operators have launched since. 

As per the law, for any operator to launch in Colorado, they must be partnered with a land-based casino property and receive licensing approval from the Colorado Division of Gaming. This means that if all of Colorado’s land-based casinos were to launch online sportsbooks, we could see up to 34 different sites entering the market that would offer a range of exciting options and bonuses to anyone of legal age. 

To get a better picture of the Colorado sports betting industry and the options for wagering online in the Centennial State here is all you need to know about what’s available and how to get started. 

Best Colorado Sportsbook Apps 

One of the major perks of a regulated online sports betting market is the guaranteed safety and legitimacy of the sites you can play on. However, with such a range of trusted online sportsbook apps available in Colorado, it can be overwhelming and time-consuming trying to find the one that’s right for you. So, we have done the hard work for you. 

Here are the 5 top-rated online sportsbooks available in Colorado, based on their bonuses, wagering options, ease of use, and many other essential factors that contribute to a great online sports betting experience. 

Complete List of CO Sportsbooks 

Alongside these top five regulated sites, many other operators are available in Colorado. However, you may also come across offshore sites that accept CO players. These sites do not guarantee the safety of your money or personal details as they are not licensed or regulated by the state of Colorado, and should be avoided at all costs. 

So that you can easily identify all the trusted and legal sportsbooks, here is a complete list of the ones currently available, along with their welcome bonus, licensing partner, and date of launch. We have also included sites that are expected to debut in the state soon thanks to either their approval by the Gaming Division or the formation of an agreement with a land-based licensing partner. 

What Sports Can I Bet on in CO? 

The Colorado law is pretty lenient when it comes to what sports you can bet on, allowing for wagers to be placed on all sporting events with the exclusion of high school games, proposition bets on college games, and eSports that aren’t approved and regulated by a governing body. Other than that, the world’s your oyster! This is great when compared to other states with legal sports betting, as often college betting and eSports betting is completely outlawed. 

In Colorado, the four major leagues – NFL, NHL, MLB, and NBA – along with college football and baseball are the most popular options for betting online. As the Centennial State is home to many top professional teams including the Denver Broncos (NFL Football), Denver Nuggets (NBA Basketball), Colorado Rockies (MLB Baseball), Colorado Avalanche (NHL Hockey), and the Colorado Rapids (Soccer), the lenient sports betting laws allow you to wager on all your favorite teams and players. 

Types of Sports Bets Offered in Colorado

One of the major perks of Colorado sports betting is the number of different types of bets offered. This can be overwhelming to newcomers, but here is a rundown of all the basic betting types that CO sportsbooks offer:

• Moneylines: The simplest form of bet is a moneyline, which is where you wager on which team will win a game. 

• Overs/Unders: Also called totals, this type of wager is where you bet on whether the combined score of the two teams will be above or below a certain number of points. 

• Spreads: This is where you bet on the margin of victory in a game, and for your bet to win, the team you have bet on has to win or lose by a certain number of points. 

• Propositions: Also known as props, these types of bets are on a variety of different game events that can be specific to a particular player, team, or the game as a whole. This could be players’ stats, who will be the first to score and other scenarios. 

• Parlays: This is where you combine multiple bets in one to give you an increased payout if the bet wins. However, all the predictions made have to be correct for you to cash in the bet. 

There are a few more advanced options also available. Teasers are another type of bet whereby you combine several individual bets as one. However, you can adjust the spread of these wagers to make the odds work more in your favor. Round robins are another bet which involves ten different options divided into three categories and are reserved for the more advanced bettor. 

In Colorado, in-game betting, otherwise known as live betting, is also an exhilarating way to play. This is where you place wagers once the game has commenced and it is quickly becoming popular. Futures are also available which is where you can bet on finals ahead of the league, such as the winner of the Super Bowl. 

Colorado Online Sportsbook Bonuses 

With so many legal and licensed sportsbooks operating in Colorado, it is a very competitive market as each operator hopes to draw the most numbers of players and take the most bets. For us, this is fantastic news as it means there are a whole host of bonuses and promotions available to tempt us.

The three main types of bonuses available in Colorado are deposit match bonuses, risk-free bets, and free bets. Here’s a closer look at how each of these promos work and what other offers you can expect to see. 

1. Deposit Match Bonuses

This is a popular welcome bonus offered by CO sportsbooks, such as BetRivers. With this type of bonus, the online operator will match your deposit by a certain percentage and award these funds to you as site credit. These bonuses also always have caps that limit the amount you can win. 

For example, if you deposited $200, a 100% deposit match bonus up to $200 would award you with an additional $200 to wager with. However, if you deposited $300 and used the same bonus, you could still only claim a maximum of $200. The percentage does not always have to be 100%; for deposit match welcome bonuses, a 100% match is common, whereas reload bonuses usually have a 50% match or lower. 

Each Colorado sportsbook offering this promotion will have its own terms and conditions that detail how the money is released into your account and the amount you need to bet on the site before you can claim all the bonus funds. 

2. Risk-Free Bets

Risk-free bets are also seen frequently in Colorado and cover your wager up to a certain amount if it loses. For example, a $500 risk-free bet means you can bet up to $500 when placing your first wager and if it doesn’t win, the operator will give you the value of your bet back as site credit. 

The downside of these types of promotions is that if your bet does win, you won’t receive any bonus funds. However, it does give you some security and confidence when placing your first wager online, while providing you with the potential to win big with minimal risk. 

3. Free Bets

Some Colorado sports betting apps also offer free bets, sometimes as stand-alone promotions and other times alongside a deposit match bonus or a risk-free bet. This is essentially free money for you to play with that is a fixed amount regardless of how much you deposit or wager. 

Often, free bets are awarded to new account holders who have created and verified their accounts, with no requirement to deposit any funds. Others do require you to make a deposit to get the free monies, whereas others want you to place a bet to unlock the funds. Either way, free bets are a quick and easy way to boost your bankroll. 

4. Other Offers 

The three promotions above are the main ones offered to new customers. However, top sportsbooks also provide exciting bonuses for existing players. 

Odds boosts are common among CO sportsbook apps and enhance the odds of a particular wager or event, giving you a higher payout if your bet wins. If you’re looking at placing parlay bets, a sports betting website that offers parlay insurance and refunds you the value of your bet if only one selection doesn’t come in is also great. 

Aside from these, you may find loyalty programs available that award you points for each wager you place. These points can be exchanged for cash prizes or other awards, and the more points you earn the more ongoing bonuses such as weekly deposit match bonuses or prize draws become open to you. 

How to Sign Up for a CO Sportsbook 

Signing up for a CO sportsbook and placing legal bets online couldn’t be any easier. Having decided which sportsbook you’d like to try all you need to do is:

1. Download the sports betting app that you want to use or head to their website if playing from your PC. To easily navigate to the site, you can find sign-up links on any of our review pages. 
2. Follow the on-screen prompts and fill in the registration form. You will need to provide personal information such as your legal name, address, email, and digits from your Social Security Number, as well as set a secure username and password. 
3. Fund your account with money by making a deposit and you can start placing wagers from anywhere in the state!

When completing the registration process, but sure to provide accurate and truthful information. Otherwise, you could run into problems when withdrawing winnings if your personal information does not match with the details provided. 

How to Deposit & Withdraw on Colorado Sportsbook Apps 

Deposits

Colorado sportsbook apps make it straightforward to fund your account, which you can easily do on your mobile device or through the desktop website. Alternatively, you can usually pay with cash by visiting a retail venue. The options vary based on the sportsbook you’re using, but most sites will offer deposits through the following methods:

• Credit card payments
• Debit cards or prepaid cards
• PayPal and other eWallets
• Cash at the land-based casino partner 
• Cash at PayNearMe points available at 7-Eleven stores
• Online banking and bank transfers

No matter how you choose to deposit money in your sportsbook account, the funds will be available immediately so that you can start betting on all your favorite sports straight away. 

Withdrawals

After your bets have come in and you’ve gained some winnings, withdrawing your money is also easy. Payouts are usually available through the same payment methods as deposits, but this is not always true. For example, if you deposit using a PayNearMe terminal, you will have to withdraw using a different method. There are also often additional payout methods available such as check withdrawals, which are available through most Colorado sports betting apps. 

When a sportsbook first launches in the state, the withdrawal methods available will likely be more limited. However, as the site becomes more established, it will expand its offerings to appeal to more players. 

Colorado Daily Fantasy Sports 

In 2016 when House Bill 16-1404 was passed into law, daily fantasy sports became legal in Colorado. DFS is now regulated by the state and rules have been outlined to help protect players both financially and to help introduce responsible gambling measures. 

For those of you who are new to DFS, the basic premise is that you draft a fantasy sports team from a list of real-world athletes, and this fantasy team then competes against others in contests. How well your team performs depends on the performance of these athletes in real-world sporting events. A range of different sports are available, but popular options include football, basketball, hockey, and soccer. 

In Colorado, the two DFS market leaders are both available in the state: FanDuel and DraftKings. The types of contests vary between the two operators, but both offer cash games, where 2-4 players go head-to-head and the winner takes all, and tournaments, where thousands of participants pay an entrance fee which is split among the top-ranked players to come the end of the competition. Private leagues and tournaments are also available to play with friends. 

Both these dominating operators also have live CO sportsbooks, meaning you can play fantasy sports and bet on sports on one platform.

Colorado Horse Race Betting 

Colorado has a long history of horse race betting and pari-mutuel wagering on horse races has been legal in the state since 1948 and is overseen by the Colorado Racing Division. Today, the state’s only horse racing track is the Arapahoe Park Racetrack, alongside 12 off-track betting (OFB) facilities, where anyone over the age of 21 years old can place legal wagers.

Colorado also gives bettors the option to bet on horse races online. TVG is one of the leading online racebooks, which covers races from across the globe and offers live streaming on its site. With coverage from over 150 racetracks, it’s easy to see why this website dominates. BetAmerica is another popular platform in Colorado and has been offering horse race betting throughout the US for over 10 decades. 

Additionally, many of the state’s legal and regulated online sportsbooks also offer horse race betting as part of their market coverage, but specific online racebooks typically have a larger range of races and wagering options to choose from. 

Colorado Betting FAQs

Can I bet on sports online in Colorado?

Yes, you can legally bet on sports online in Colorado. The state legalized the industry in November 2019 and the state’s first regulated online sportsbooks debuted on May 1, 2020. There are now 18 licensed and regulated sportsbooks available, which anyone of legal age inside Colorado can place wagers at. 

Is mobile sports betting available in Colorado?

Yes, mobile sports betting is available in Colorado and all operators offer the ability to bet using your handheld device. Betting from your smartphone or tablet has become one of the most popular ways to place sporting wagers in the state and you can use any of the regulated online sportsbooks state-wide from your mobile phone or tablet. 

How are CO online sportsbooks regulated?

Colorado online sportsbooks are regulated by the Colorado Division of Gaming. This is a division of the government and they oversee all of the state’s sports betting, including awarding licenses to operators and checking their compliance with the rules and regulations set out by the Division. 

Who can bet on sports in Colorado?

Anyone over the age of 21 can place wagers on sports in Colorado. You do not have to be a resident of the state, but you do need to physically be located within state borders at the time you place your bets. 

What is the best online sportsbook / betting site or app in Colorado?

Our favorite Colorado betting site is BetMGM.

Can I bet on fantasy sports for real money in Colorado?

Yes, you can bet on fantasy sports for real money in Colorado. This form of online gaming was legalized in 2016 when lawmakers decided fantasy sports contests were considered a game of skill rather than a game of chance. To play fantasy sports in CO, you need to be age 18 or older.