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Sports Betting in Colorado
How to Bet – Teams – Bet Accounts – Type of Bets – Mobile Betting
Is sports betting legal in Colorado?
Yes. On November 7th, 2019, Colorado approved Proposition DD, marking Colorado as a full-service sports betting state.
Is Online Sports Betting legal in Colorado (like gambling on apps and websites)?
On May 1, 2020, Colorado online and mobile sports betting went live in all of the state’s cities, including Denver.
The launch proved very successful, as residents and visitors alike wagered over $25.6 million on competitive events in the first month of the launch alone.
The most popular sports among bettors during the launch included NBA, football, table tennis, mixed martial arts, baseball, soccer, and golf.
Nothing could stop casual and professional Colorado bettors from wagering on their favorite sport— not even the coronavirus pandemic.
Why should I bet on a legal website?
Colorado casino operators have applied for a physical or online sportsbook license. It means that these operators are required to pay a 10% tax on net proceeds. The majority of the tax funds will be allocated to multiple projects, including the Colorado Water Plan.
The 10% tax revenue is higher than Nevada’s 6.75% sports betting tax. However, 10% is lower than the sports betting taxes required in other states, such as Pennsylvania (36%).
Now residents and visitors of Colorado can bet on any sport of their choice, as long as they stick to the state’s sports betting guidelines.
They can try out their luck in brick-and-mortar casinos or bet through their mobile devices.
Can I bet using an app?
As extra measure, we’ve also secured government licenses and we adhere to the strictest of regulations.
When accessing other sports betting websites, it’s important to check if they’ve been authorized by the Colorado Division of Gaming.
Depositing to Your Account
Here are different ways to deposit into your account:
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- Debit and credit cards (Visa and MasterCard are the most commonly accepted cards)
- Bank transfers (e.g., e-checks, Bill Pay, and wire transfers for larger amounts of money)
- E-wallets (e.g., PayPal, Neteller, and Skrill)
Some banks don’t allow deposits into Colorado sports gambling sites and merchants via their credit cards. These banks can also charge hefty amounts, so don’t forget to check your card’s terms and conditions.
Withdrawing Your Winnings
Winners who would like to cash in their winnings have to go through strict identification and age verification processes first.
These processes make sure that bettors are protected from any form of theft.
Some operators will only allow withdrawals through a specific method if you also used that service to deposit to your account. These services include PayPal and Skrill.
The most popular method is through the issuance of paper or electronic checks. An e-check is one of the fastest withdrawal methods.
Paper checks are sent to the mailing address you provide. This is a go-to method that may be slower but is more reliable.
Colorado Sports Betting 101: How to Bet
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- Bettors must be over 21 years old to wager in actual and online casinos (Sports betting, both in person and online).
- With Proposition DD’s passage, casino game bets are limited to $100 maximum. For sports betting, casinos have the discretion to set their own limits.
- Colorado sports betting laws let bettors place their wagers on almost all sporting events except for high school sports. But prop bets on college sports and unsanctioned e-sports wagers are a no-no.
- Denver, Colorado, is among the cities that offer an extensive list of sports, that casual and professional bettors can wager on.
- The Colorado Division of Gaming is responsible for all matters concerning Colorado casinos and sports betting. The department of revenue, in particular, regulates sports betting.
- Only Colorado casinos licensed to conduct limited gaming can register for a master license to offer sports betting. These are the casinos in the cities of Black Hawk, Central City, and Cripple Creek.
- The state also has tribal casinos in its Southwestern area.
- Under the law, licensed casinos can allow sports betting through the internet or mobile apps.
- There are three types of sports betting license categories: a master license, a sports betting operator license, and an internet sports betting operator license.
- A master license allows casino operators to conduct retail and mobile betting. It also authorizes operators to partner with two strategic operators at most.
- Unlike in New Jersey, Colorado sportsbooks do not allow legal online poker or casino games.
- Colorado odds are not much different from Las Vegas odds. However, operators can reduce bet prices on games that appeal particularly to the Colorado sports betting market.
Colorado Teams You Can Bet on
- Colorado Avalanche
- Colorado Rockies
- Colorado Rapids
- Denver Broncos
- Denver Nuggets
For , you can bet on the following Colorado teams:
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- Air Force (Mountain West)
- Colorado (Pac-12)
- Colorado State (Mountain West)
- Denver (Summit)
- Northern Colorado (Big Sky)
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TYPES OF BETS
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- Single-game bets – any wager on the result of a single game or event
- Parlays – a combination of multiple individual bets
- Teasers – a type of parlay bet which is easier to win but has a smaller payout
- Over/under bets – the sportsbook predicts statistics for a sport and bettors wager on whether the game’s outcome will be higher or lower than the number.
- Spreads / handicap bet – bets in which the options of the teams or players that play the game are matched, adding or subtracting certain points from each of them. This way, the result of the game will be determined by the final scorer of the game after applying the handicap assigned to each participant.
- Moneyline – placing a bet on a particular team to win
- In-game bets – betting on a game as it happens
- Prop bets – bets on events that do not affect a game’s final outcome
MOBILE BETTING
In New Jersey (Colorado), the most popular way to place your bets is not via racetracks or casinos. Currently, mobile phone betting accounts for 80% of the wagers.
- List of sports being offered
- Sportsbook featured bets
- Betslip
- Account management features
- Account preferences
- Cashier
- Promotions
Residents and visitors of Colorado should get ready for some of the best Colorado sports betting apps that are already available or scheduled to launch in the state:
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- Barstool Sportsbook
- BetAmerica
- Betfred (partnership with Saratoga Casino)
- BetMGM
- BetMonarch (Monarch Casino app)
- BetRivers
- Betwildwood
- Circa Sports Colorado
- Digital Gaming Corporation
- DraftKings Sportsbook (with retail sportsbook at Golden Mardi Gras Casino)
- FanDuel Sportsbook
- FOX Bet
- PointsBet
- SBK
- Sky Ute Sportsbook
- TheScore Bet
- SuperBook (retail location in the Lodge Casino)
- William Hill Sports Book
- WSI US
With the launch of these mobile apps and the changes in the maximum sports betting wager size, casinos and sports betting clients should expect a more exciting and competitive sports betting landscape.
These exciting changes will affect Colorado’s economy positively.
Now, more Colorado sports betting jobs are available, thanks to the legalization of sports betting in the centennial state.
HOW TO TAKE ADVANTAGE OF OFFERS AND PROMOS
For our most loyal customers, we have exclusive programs and promotions. Don’t ignore the points you get from our programs, as they’re as good as real cash!
VIPs who take advantage of our loyalty schemes can enjoy more promos and discounts.
Watch out for our special offers during the biggest sporting events, be it the play-offs, finals, or all-star games.
BACKGROUND ON COLORADO BETTING
Colorado casino sports betting is a fairly young industry.
For casual and professional sports bettors alike, the most common question was, “When will sports betting be legal in Colorado?”
Others might be curious about Colorado sports betting legislation and Colorado sports betting laws.
How Exactly Did Colorado Legalize Sports Betting?
It took almost 30 years before sports betting became legal in Colorado. But for many sports betting fans in Colorado, it was worth the wait.
Let’s see how that all happened.
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- 1990: Casino operators entered the state of Colorado.
- 1991: Casino gambling under the limited stakes gaming law was passed (maximum of $5 on bets and age restriction, stating that only those over 21 years old can take part in Colorado betting). Slot machines, blackjack, and poker were the only games people can bet on.
- 2008: Amendment 50 was passed, allowing extended casino hours in the national historic districts, namely Central City, Cripple Creek, and Black Hawk.
- 2009: Casinos increased the maximum bet amount to $100. They also offered more games and started operating 24 hours daily.
- April 2019: House Bill 1327 was introduced. This bill aimed to legalize, regulate, and tax Colorado casino sports betting and Colorado sports betting online.
- May 2019: House Bill 1327 is signed into law and subjected to a referendum vote during the November elections.
- November 2019: After a close votation, Proposition DD (HB1327) gets approved.
- May 2020: Sportsbook betting in Colorado goes live online.