Colorado Sports Betting

Online and retail sports betting is now available to Colorado players, meaning you can bet in person, on your mobile device, or on your desktop anywhere in the state. Whether you prefer placing wagers at retail locations in a comfortable live setting or betting from the convenience of your smartphone, Centennial State bettors have plenty of reputable CO sportsbooks to pick from.

While betting in Colorado is easy, there are a few regulations that you must keep in mind. So, read our complete expert guide to Colorado sports betting to explore what types of bets are legal and how you can grab awesome bonuses at the best sportsbooks.

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Where to Place Sports Bets in Colorado?

#1 DraftKings	Official partner of Colorado Avalanche and Rockies Promotions on major league sports for existing players Excellent range of markets on popular leagues	SEE OFFER	T&Cs APPLY, 18+ ONLY Full T&Cs apply. Gambling problem? Call 1-800-GAMBLER
#2 BetMGM	Betting facility at Mile High Stadium Excellent rewards program Great customer service options	SEE OFFER	T&Cs APPLY, 18+ ONLY Full T&Cs apply. Gambling problem? Call 1-800-GAMBLER
#3 FanDuel	Official partner of the Denver Broncos All-in-one FanDuel-powered wallet across DFS, sports betting, and pari-mutuel horse racing betting Perfect for novice bettors	SEE OFFER	T&Cs APPLY, 18+ ONLY Full T&Cs apply. Gambling problem? Call 1-800-GAMBLER

With a wide selection of CO sports betting sites to choose from, finding the best operator can be a challenge. Luckily, our betting experts are here to help. Our team reviews every online sportsbook in CO to provide you with a complete picture so you can pick your preferred betting site. Read above for our overview of three of the most popular CO sportsbooks.

Is sports betting legal in Colorado?

Voters approved sports betting in Colorado in November 2019 when it passed Proposition DD by a small margin of just 43,000 votes. Retail and online sports betting launched in May 2020.

The market in CO has matured to become one of the biggest and most diverse in the country. Twenty-six sportsbooks now operate in the state, with each operator required to partner with a land-based casino to launch. Ultimately, this gives bettors a wide variety of choices for bettors.

These include established brands like BetMGM, Caesars, FanDuel, and DraftKings alongside new operators like SI Sportsbook, which first launched its platform in Colorado. Some brands have also put down deep routes in the state, like PointsBet, which opened its national headquarters in Denver.

Not only is sports betting legal in Colorado, but it is also one of the most bettor-friendly markets in the country. With a wide choice of sportsbooks, an operator-friendly regulatory agency (the Colorado Division of Gaming), and a low tax rate, Colorado sports betting has become one of the largest betting markets in the country. The state even topped a total of $9 billion in December 2022.

Present and future of Sports Betting in Colorado

Sports Betting Revenue and Taxation in Colorado

Colorado has become one of the biggest betting markets in the US by handle and has brought in over $10 billion in total handle. The state charges operators a 10% tax on gross revenue, which has raised nearly $715 million. Since May 2020, almost $36 million has been collected from sportsbooks.

In addition, the Federal Revenue Code indicates that 0.25% of all sportsbook handles must be taxed, and each sportsbook is charged a $50 fee per employee involved in taking bets.

As in most states, you’ll have to pay income tax on gambling winnings in Colorado. Colorado’s state income tax is a flat rate of 4.63%, but you can offset your losses against the tax you pay on gambling winnings, so ensure you keep a record of your payouts to send to the Revenue Department.

You must declare all your gambling winnings to the IRS. You will also have to complete a W-2G form if you win over $600 in a year – your sportsbook will be able to help with this by providing information on your winnings. Sportsbooks can hold up to 25% of your winnings for tax purposes.

Comparison of TOP sportsbooks

Since legalizing sports betting in November 2019 and the launch of regulated sports betting in May 2020, bettors have been spoiled for choice, with nearly 30 sportsbooks launching. There is a good mix of the biggest US operators, innovative newcomers, and local sportsbooks. Choosing between them can be tricky, so we’ve selected some of our favorite sites so you can find the perfect sportsbook for you!

DraftKings

DraftKings Sportsbook debuted in Colorado in May 2020, obtaining a license with the Colorado Division of Gaming through Bally’s Black Hawk North to operate in the state. It also hosts a retail sportsbook at the Bally’s site, featuring a full-service sportsbook cashier, cocktail bar, and betting kiosks. The sportsbook also partnered with the Colorado Avalanche and Colorado Rockies of the NHL and MLB, respectively.

The award-winning DraftKings Sportsbooks offers markets on various popular US sports, including competitive odds on major professional and collegiate sports. As eSports are available for wagering in the Centennial State, DraftKings also gives Colorado bettors a great range of eSports markets, such as CS:GO, Call of Duty, League of Legends, and Rocket League. Overall, the choice of markets and leagues is enough to satisfy most bettors in the state.

DraftKings also boasts an easy-to-use native app for iOS and Android alongside a mobile and desktop site. If you have a problem using the sportsbook, the betting brand offers customer service 24/7 through live chat and email. It also accepts all the most popular payment methods, with withdrawals taking 3-5 business days, which is slower than some competitors.

BetMGM

BetMGM Sportsbook launched on the opening day of sports betting in the Centennial State, becoming available to CO bettors in May 2020. It launched with a license obtained with the Colorado Division of Gaming through its land-based partner, JP McGill’s Hotel & Casino. It also partners with the NFL’s Denver Broncos, including opening a BetMGM Lounge at Mile High Stadium.

BetMGM has an excellent selection of sports for wagering from professional and collegiate sports compared to its competitors. The sportsbook is also known for providing some in-depth lines on MMA, NASCAR Cup Series, and European soccer.

A significant plus for BetMGM is the MGM Rewards, where you can redeem points earned while betting on real-life prizes. These include hotel stays, meals, and drinks at MGM Resorts properties. Thanks to its partnership with the Broncos, BetMGM Sportsbook also provides tons of special promotions on Broncos games throughout the NFL season.

FanDuel

A familiar name to any DFS players in Colorado, FanDuel launched its sports betting product in Colorado in May 2020 at the launch of sports betting. It obtained its license through a partnership with the land-based casino, Bally’s Black Hawk North Casino.

The sportsbook operates a “Cash at Counter” partnership with a retail location, the Celtic on Market, an Irish pub on Market Street. You can’t make bets at this location, but you can wager on the app while watching sports events at the bar. We’d love to see a full retail sportsbook added in the future.

FanDuel made history in June 2020, becoming the first sportsbook to partner with an NFL team when it partnered with the Denver Broncos.

The sportsbook offers a wide range of markets, with major league and college betting available alongside some more exotic markets, like cricket, rugby, and handball. Another great plus of FanDuel is its FanDuel-branded wallet. You can use bet winnings to place bets at TVG, the pari-mutuel horse racing site operated by FanDuel, and enter contests on its daily fantasy product.

Best sports betting Apps in Colorado

Placing bets on the go has become the most popular method of wagering with CO bettors. Therefore, its sportsbooks must offer a great mobile experience to compete with the best operators. Every sports betting app claims it is the best in the Centennial State, but you can find the best platforms that our experts found below.

Colorado sports betting promotions

With so many operators available in Colorado, bettors are spoiled for choice. Sportsbooks will offer generous welcome bonuses like risk-free bets to entice people to register. Thanks to partnerships between sportsbooks and sports teams, some operators will also boast special promotions on games involving Colorado’s teams throughout the season. Below are some of the best promotions currently available to CO bettors.

Popular types of bets

Colorado sportsbooks offer customers thousands of potential betting options, with twenty-six licensed sports betting operators. To better understand the most popular markets with CO bettors, read our guide to the most common bet types below.

Moneyline

No matter if you’re a betting expert or a complete novice, you’ll likely be familiar with moneyline bets. Moneyline betting simply involves you predicting who will win a game. For example, whether the Colorado Avalanche will be Seattle Kraken in an NHL matchup or the Denver Nuggets will beat the Sacramento Kings in an interconference game in the NBA. If you correctly guess the winning team, you’ll get your stake and a profit.

Point Spread

With points-spread betting, the favorite must overcome an imaginary points deficit called a handicap. Winning a bet on a points-spread favorite requires them to win by more than the handicap for your stake to pay out. When betting on the underdog, your wager will pay out if the team loses by less than the handicap.

For example, if the Denver Broncos are a 10.5-point favorite to beat the New England Patriots, and you bet on the Broncos, they’ll need to win by 11 points or more for your bet to pay out. If you bet on the Pats, New England can lose by 10 points or less, and your wager will still be successful.

Over/Under

For an over/under bet, your Colorado sportsbook will set a total for a statistic, and you will have to predict whether the final total is over or under this amount. Total points, individual player points, total passing yards, and rushing yards are examples of common over/under markets.

Passing yards are a common over/under market, with many bettors wagering on the total number thrown over a particular game. For example, a sports betting site might offer over or under 300 passing yards on a Broncos game. Your bets will pay out if the QB successfully passes for 315 yards. If he only passes for 299 yards, you’ll lose your stake.

Parlays

A parlay bet combines several selections into one wager. Each stake added is referred to as a leg, and your odds will increase as more legs are added. If every choice is successful, your bet will pay out, but the whole wager is unsuccessful if one fails.

While risky, parlays offer higher odds than single selections as the odds are multiplied as more legs are added. You can place parlays over multiple events, or some of the best CO sportsbooks will offer same game parlays, which are placed on a single event.

Prop

Proposition bets, often called props, are made on individual players and events rather than the game’s score. Some examples of prop bets are whether the Denver Nuggets will throw a three-pointer in the opening two minutes, whether there will be a safety in a Broncos game, or whether a particular Rockies player will hit a home run. In Colorado, prop bets are banned on collegiate sports, but you can place prop wagers on professional action.

Teasers

Teaser betting combines parlays and points spreads and involves the bettor placing multiple point spread selections. Uniquely to teasers, you can adjust the spreads on offer to give yourself a better chance of success and have more control over the lines.

For example, a teaser bet could involve the Denver Broncos, a 3.5-point favorite, the Los Angeles Chargers, a 1.5-point favorite, and the Minnesota Vikings, a 10.5-point favorite. You could adjust these lines and place a three-team, six-point teaser bet with the Broncos at +9, Chargers at -1.5, and Vikings at -1.5. All three teams would need to cover for your wager to be successful.

Futures

A future bet is wagered on significant events in the future, like the winners of major competitions or prestigious awards. Some examples would be betting on a Rockies player to win the Cy Young Award or the Avalanche to win the Stanley Cup. Have an inkling that you know who’s going to win? The earlier you place your wager, the better your odds will be.

Live Betting

While most bets are placed before an event starts, increasingly mobile betting is allowing bettors to place wagers on the action as it happens. Most of the best CO sportsbooks will offer in-play betting on several events. With in-play betting, the odds are more volatile, and prices change from second to second as the game unfolds. With such volatility, a well-timed bet could pocket you some excellent odds.

Local team sports where to bet on

Colorado has a franchise in each of the big four major leagues, alongside a soccer team in MLS and three prominent NCAA Division 1 programs. Its position in the Mountain Time Zone makes teams in Colorado popular across the region.

The oldest teams in the state are its collegiate athletics programs, with the University of Colorado-Boulder (Colorado) inaugurating the Buffaloes in 1890, followed by Colorado State University Rams (Colorado State) three years later. The United States Air Force Academy Falcons (Air Force) began to play in 1955. Today, Colorado plays in one of the “Power 5” leagues in college football, the Pacific-12 Conference (Pac-12), while Colorado State and Air Force play in the Mountain West Conference (MWC), joining the conference as charter members.

In 1959, the Denver Broncos were granted a charter franchise in the American Football League (AFL), which merged with the NFL in 1970 to form the National Football League (NFL) as we know it today. Eight years later, the upstart American Basketball Association (ABA) introduced Denver Nuggets as an inaugural team before the ABA was merged into the NBA. The Nuggets joined the NBA in 1976.

In the first half of the 1990s, three professional sides were established in Colorado, MLB’s Colorado Rockies (1993), the NHL’s Colorado Avalanche, and Major League Soccer (MLS)’s Colorado Rapids (both 1995) all began to play.

You’ll find online betting markets in most CO sportsbooks for both professional and collegiate sports. There are no restrictions to betting on professional sports, but prop bets on college games are prohibited in the Centennial State. Despite this, all our recommended Colorado sports betting sites will consistently provide wagers on all available markets throughout the year, including match betting in-season and futures bets in the off-season.

Famous sports events in Colorado 2023

Colorado has a great history of top sporting events, and 2023 is no exception. In March, the Mountain West Conference hosted the NCAA Division I Men’s Basketball Tournament First and Second Rounds at the Ball Arena, Denver.

Later that month, runners from all over Denver celebrated the end of the cold winter in CO with the Central Park 5k, a flat race in the Stapelton neighborhood, Central Park. The same day, the Ball Arena hosted WWW: Road to WrestleMania, with Bobby Lashley & Bianca Belair among the stars to travel to the Centennial State.

In August, the 2023 National Cycling League hosts its Denver International across the city before the beginning of college athletics season. The intercollegiate season will see two significant events; the Rocky Mountain Showdown between Colorado Buffaloes and Colorado State Rams on September 16, 2023, and the Commander-in-Chief’s Trophy fixture between Air Force and Army on November 4, 2023.

The only restriction on betting in Colorado is the prohibition on prop betting on collegiate sports events. This means you cannot place prop bets on the Rocky Mountain Showdown or the Air Force vs. Army Commander-in-Chief Trophy fixture. Don’t worry; you can still bet moneyline and point-spread markets on college games.

Colorado sports betting timeline

States where it is legal to bet on sports

The decision by the US Supreme Court to strike down PASPA in May 2018 returned the power to legalize gambling back to states, with each state legislature able to pass laws to regulate and launch betting as they saw fit. Sports betting laws, therefore, differ from state to state.

Colorado launched legal sports betting on May 1, 2020, having legalized online and retail sports betting in November 2019. Voters passed Proposition DD by a margin of just 43,000. At the time of writing, the following states can also offer sports betting via retail, online, or both.

When you’re betting in different states, it’s vital that you note that regulations and your experience will be different. You can bet in each of the above states, but where sports betting has launched, the operators, the types of wagers available, and whether you can wager on your cell phone will change from state to state.

ThePuntersPage Final Say

Colorado has one of the most developed betting markets in the country and has come a long way since legalization in May 2020. With twenty-six sportsbooks available, there is a competitive market with popular national operators and newcomers offering wagers. CO is one of the biggest states by handle for sports betting, and it’s not hard to see why.

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