Best Spotsbooks in Colorado
Published on 24 Jul 2020
Sports betting went live in Colorado in May 2020. It immediately boosted the opening of multiple sportsbooks and resulted in huge gambling revenues. Local bettors have one of the biggest choices in the USA: the number of sports betting apps, websites, and retail sportsbooks exceeded twenty within the first year.
Such a selection might be confusing, especially for a rookie bettor. Where should you go to place sports wagers? How to choose a legal betting site that offers competitive odds, exciting bonuses and operates legally in Colorado?
This guide will cover all these questions and more. Besides the best sportsbook in Colorado recommendations, we tell you about offline betting shops, describe the main rules of Colorado sports betting, and provide you with tips on choosing a sportsbook and the most profitable betting options.
Best Online Sportsbooks in Colorado
To start, we prepared a list of the best Colorado betting sites. We chose the most trusted sportsbooks that proved to be great in user and customer experience and offer top-notch opportunities for sharp and beginning players. All of them have a license from the Colorado Gambling Commission: luckily, we had many options to choose from.
| Sportsbook | Year Established | Min Deposit | Bonus Amount |
|---|---|---|---|
| DraftKings | 2012 | $5 | 20% match up to $1,000 |
| PointsBet | 2015 | $5 | 2 Risk Free Bets up to $2000 |
| FanDuel | 2009 | $10 | 20% match up to $500 |
| Caesars Sportsbook | 1986 | $10 | 100% match up to $2,021 |
| FoxBet | 2018 | $10 | $1,000 (risk-free bet) |
Is sports betting legal in Colorado?
As sports betting became legal in Colorado, the Centennial State spurted into the lead of the whole gambling industry of the USA. More than twenty sportsbooks opened their doors to online bettors along with retail sports wagering venues all over the state. No wonder it collected $2.3 billion in wagers in the very first year when online, and offline sports betting went live.
The main sports betting bill, HB19-1327, covers all rules regarding digital and brick-and-mortar bookmakers. Basically, the law is not significantly different from the other states’ legislation and does not limit Colorado sports bettors much.
The main points of the law involve the following:
- Colo Sports betting has been decriminalized since May 1, 2020;
- Every legal sportsbook must obtain one of the licenses: Sports Betting Operator License for offline-only bookmakers, Internet Sports Betting Operator license for online bookmakers, or Master License that allows both retail and online operations;
- A bettor must be at least twenty-one to sign up to online betting sites or place bets at retail venues;
- All bookmakers must pay a 10% tax from their net gambling revenues;
- Esports and college sports betting is legal, but sportsbooks don’t have a right to offer high school events in their lines. The same regards any eSports competitions that are not regarded as sports disciplines;
- Bookmakers can’t offer propositional bets on college sports events;
- Bettors can download Colorado sports betting apps and register at licensed sportsbooks without visiting them in person.
To sum up, you can wager on sports at brick-and-mortar casinos or online betting sites and apps that have a license from the Colorado Division of Gaming.
What about offshore sports betting, then?
The act does not mention offshore betting and any specific punishment for it. It doesn’t mean that choosing a foreign site will lead to you to some issues; still, the government doesn’t regulate your offshore activities, which is pretty risky.
What about Fantasy Sports? It is also legal and has been legal long before classical sports betting came to the scene. The act, legalizing Fantasy Sports, was released in 2016, and soon Colorado bettors could manage their fantasy teams at FanDuel and DraftKings.
CO Online Sports Betting History/Timeline
The first attempts to change Colorado gambling laws refer to 2000, when the Multi-State Lotteries Referendum resulted in appearing multi-state jackpot drawings.
Nine years after, Colorado increased betting limits: casino gamblers could risk $100 in a single bet, instead of $5. In 2014, the government banned all greyhound races and betting on them within the state. The next changes in the law started after the PASPA repeal:
- February 2019: Voters approved the sports betting legalization proposition. The main point of the proposition was to use the betting tax revenue for Water Projects;
- May 2020: the sports betting bill was signed, and the first bookies came to the Colorado Sports Betting market;
- 2021: retail casinos with offline sportsbooks opened its doors to customers after Covid-19 lockdown.
Recent news and details about sports betting in Colorado
The sports betting is flourishing and generates large revenues from online and brick-and-mortar sportsbooks. With the largest sports betting landscape in Cripple Creek, Colorado attracts many gambling tourists and locals, showing rapid development of the industry.
The main booster of the Colo sports betting revenue is football: the NFL betting gathers the largest pool of bettors, and the overall net profits from pro football wagers exceed $5 mil. Although the first year of legal sports betting was darkened by the lockdown and revenue losses as casinos were closed, the government still collected $6.6 million in taxes from online sports betting sites and apps.
How does Colorado compare to other states?
Colorado sports betting law doesn’t have any specific nuances that make it different from the other states. The basic rules are simple: bettors can wager on anything but high-school events and college sports props, must register at licensed sportsbooks, and be at least twenty-one to gamble.
The main difference between Colorado and the other states in sports betting is there is no state with so many active legal online sports betting sites and offline bookmakers. Unlike Illinois, Indiana, or Michigan, the Centennial State offers about thirty legal sportsbooks, which makes sports betting activities more than accessible.
How do we rate Colorado sportsbooks?
We didn’t just add some random legal betting sites to our list: our rankings are always a result of fine research. As sports betting experts, we know what makes a good bookie and recognize a bad one within a blink of an eye. Want to know how we do it? Read on: we will tell you more about the top Colorado betting sites selection and give you some tips on finding great deals.
License and legality
Colorado legal sportsbooks must have the Colorado Division of Gaming license: for internet, retail, or both sports betting options. Before the government repealed the PASPA law, sports bettors had no choice but offshore bookies, but now they have plenty of local and offline venues.
Thus, we don’t see a point in opting for some foreign brand: it’s always safer to gamble at the place regulated by your local authorities.
Thus, our list of the best Colorado sportsbooks contains sportsbooks exclusively with the CDG license. Obviously, they are perfectly legal in Colorado and welcome everyone who lives or visits the state.
Reputation
Even a legal site can get plenty of negative feedback from customers. Payout delays, unfair bonus requirements, account blocking, and more — we named just a few things that destroy a sportsbook’s reputation.
We don’t recommend bookmakers if we see too many bad reviews on them. Our team thoroughly checks the users’ comments at various review platforms and monitors all scandals or doubtful situations around every betting site to make sure we recommend trusted and reputable sites. If you want to find some more options besides the ones you see in our list, you can do the same. At least take your time to read some reviews before you press the Sign up button.
Banking options
You always need to deposit and withdraw funds when you wager on sports. It mustn’t be a sort of a struggle for you: a sports betting site must give you all opportunities to finish transactions with a couple of clicks.
Besides, the selection of payment options also matters. A good site always gives you some choice and uses trusted secure, and convenient banking systems. We are not speaking about cryptocurrencies now: you won’t find a crypto betting site in the Colorado Gaming Division register. Still, the minimum list must contain the following:
- Visa/Mastercard credit and debit cards;
- PayPal or other e-wallets, like Skrill or Neteller;
- Online Banking;
- Bank Transfers;
- Echeck payments.
Many sportsbooks go further and enable cash payments: you visit a retail bookmaker and top up your online account via its offline cashier. Besides, you can come across prepaid gift cards or PaySafeCard options.
Please, mind that all payment systems have their nuances: some charge you withdrawal fees, while the others take more time to process your transaction.
Available betting markets
If you are a beginning bettor, you might be totally okay with a limited number of the most straightforward betting markets. Options like money line, spread, and totals are basic in all sportsbooks, but it’s a mistake to think it’s enough. Although you don’t dare to wager on some alternative spreads, combine picks in parlays, or suggest your own bets, having more than a couple of options won’t hurt.
Besides, it shows the quality of the odds provider.
A rare bookie has its own oddsmakers team, especially if we speak of niche sports, so the more betting markets you have in the line, the more chances you will get an overall top-notch experience at this site.
Odds and Lines
We keep telling our readers that sports betting is fun, not a job. You mustn’t try making a living from sports betting; still, a desire to get at least a small profit is natural. If your bet wins, you get some money, but what if you could have gained more?
Our advice is to shop the lines before you make bets: some bookies provide you with higher odds, the others are less lucrative. To make it easier, just base on a rule: the industry-average betting margin is approximately 5%-7%, so when you see some markets with 2%-4% margin, it’s a bargain.
Sportsbooks we included in our list offer the best odds for top popular markets and sometimes share even more profitable options during seasonal promotions. Before we overview them, let’s enlist the most popular bonuses that you can come across at various gambling sites.
- Deposit Bonus: a bonus you receive as a new or regular customer when you top up your account. A sportsbook gives you extra cash, matching the amount you send to the sportsbook;
- Free Bet: if you wager using a free bet, you don’t risk your money. The free bet covers your expenses;
- Parlay insurance: when your parlay was close to winning but a single pick lost, you still get your winnings;
- Boosted odds: a promotion giving you higher odds for particular markets.
Latest Bonuses
Bonuses and promo
Bonuses are always fun unless they come with some draconian rollover requirements. Some bookies don’t offer much: just some welcome promotion and a couple of free bets for regular bettors. Our choice is sports betting sites with a lucrative bonus system and fair bonus rules.
| Sportsbook | Bonus Type | Bonus Amount |
|---|---|---|
| Draftkings | First Deposit Bonus | 20% deposit match up to $1,000 |
| BetMGM | Free Bet | Up to $1,000 |
| PointsBet | No Juice Saturdays | 0% margin on selected markets |
| Caesars Sportsbook | First Bet Match | Up to $1,001 |
Best Colorado Sports Betting Apps
All online sportsbooks in Colorado have native apps, allowing bettors to place wagers anywhere and anytime. They are available for iOS and Android users and mainly mirror the offer you see at the web version. Still, we selected the best ones, with the top-notch user experience, the most exciting betting offer, generous bonuses, and competitive odds, and will briefly overview them.
- Draftkings: sports betting app with a good variety of sports and betting options, including multiple bets like parlays and teasers. When you download a Draftkings app, you are sure to get a safe experience from an established US gambling brand;
- BetMGM: one of the most intuitive apps with a user-friendly layout, a variety of exciting promotions, and quick payouts;
- BetRivers: the brand took care of both user journeys and sports betting experiences. It offers a large number of betting markets and promos, including exotic parlay jackpots and exotic prop bets;
- Sports Illustrated Sportsbook is one of the best for making NFL bets. Its competitive odds, weekly betting promos, and a nice welcome bonus of $300 in free bets have gained the love and trust of many bettors all over the US.
A brief guide to Sports Betting in Colorado
Want to try out sports betting in Colorado but have no idea what to start with? Here is a brief guide for rookie bettors: we will tell you about the most profitable betting markets. Like most states, Colorado is more into the top American leagues, especially events engaging local teams.
What are the most popular betting markets in CO?
Every Colorado sportsbook will offer odds for the major US leagues: NFL, NBA, NHL, etc. But what should you choose if the choice of various markets makes you dizzy? One bookie invites you to create some exquisite parlay, while the other one actively promotes its BetBuilder. All of them are full of game, team, and player props, so what’s the worthiest option?
Major US leagues
NFL
The Denver Broncos, the winners of three Super Bowls, and the team with the most finals losses at the same time might become a challenge for a beginning bettor. It’s hard to wager against your home team, even when the stats and forecasts are shouting out that it’s an underdog. It is the reason why many bettors opt for totals and props markets: at least, you don’t back your opponents when you bet on the first player to score or so. Still, we recommend you to start with the basics: money lines and spreads usually have the best odds and are best for the first wagers.
NBA
Colorado is home for the Denver Nuggets, a part of the Western Conference Northwest Division. No wonder NBA betting is as popular in CO as the NFL: the state has grown a large dedicated fanbase. With Nikola Jokić in main rosters, the Nuggets have all chances to change their stats that currently has no wins in any major championships, and betting on their matches might be a thrilling experience. While it doesn’t usually work in football, money line betting on the underdog in basketball might result in very inspiring outcomes. Statistics say NBA favorites win in 49% of cases, so wagering on an underdog has a high chance to end up winning a considerable amount.
NHL
The Colorado Avalanche, or simply the Avs, is the state’s pride: two Stanley Cups and three President’s Trophies are just a few of their achievements. Thus, NHL betting is one of the key gambling areas in Colorado and generates large revenues in wagers every season. Still, betting on NHL requires much knowledge and skills, so you might want to start with simple money lines, but ice hockey parlays and alternative totals can also work out fine.
MLS
The Colorado Rapids are the former MLS cup champions, and although MLS is not as popular as NFL, a strong home team impacts the fanbase and the overall interest to the league. Soccer betting probably has the largest number of regular gamblers and tons of useful tips for every possible outcome. Thus, you’ll barely face issues to find the best options when you bet on MLS events.
Still, the odds might be less lucrative than for NFL biggest games, so we recommend shopping the line: thankfully, Colorado offers a large number of sportsbooks to choose from.
What are the limits on how many bets can be placed?
When we speak about betting limits in Colorado, we usually mean casino gambling: roulette, blackjack, baccarat, and other sorts of tables and cards. Here the laws are pretty strict: you can’t make wagers larger than $100. The exception is gambling at Black Hawk, Central City, and Cripple Creek.
However, there is nothing like this in the sports betting bill or its amendments. The law doesn’t limit your sports wagers amounts: still, a sportsbook can. The betting limits of every sportsbook depend on its policies and vary from market to market.
Why do I have to be in Colorado to place a bet?
Not all states legalize sports betting: some of them are only preparing particular bills, while the others deny even a probability of legalization. It makes offline or online sports betting legal in certain US regions and totally bans it in others.
While things are simple when you prefer brick-and-mortar casinos, online betting legalization saw a challenge. To make sure people use sportsbooks from the gambling-allowed regions, they use a geo-location tracking solution. It means that every legal betting app or site automatically recognizes where you are and decides whether to give you access or not.
Besides, every state determines its own rules on sports betting. Some are okay with eighteen-year-old gamblers, while the others need you to be at least twenty-one. Betting markets, or extra products, like online casinos, also depend on every certain state, so a sportsbook must know which version you can use. In simple words, you can’t use a Michigan version of a mobile sports betting app if you are in Colorado: it will have a different set of services.
Colorado Land Based Casinos and Sportsbooks
There are plenty of them in Colorado: almost every online bookmaker signed with some local brick-and-mortar casino to boost the customer base and brand’s visibility. Besides, Colorado casinos keep opening their own private bookmakers, so the choice is genuinely vast. Black Hawk, Central City, and Cripple Creek became a home of all the retail sports betting venues in Colorado, and the top popular of them are the following:
- Penn National in the Ameristar Casino in Black Hawk;
- DraftKings in the Mardi Gras Casino in Black Hawk;
- BetMonarch in Monarch;
- Saratoga Casino and Sportsbook in Black Hawk;
- William Hill at the Isle Casino in Black Hawk;
- PointsBet betting kiosks in Cripple Creek;
- play sports Kiosks by IGT in Central City;
- Caesars Sportsbook at Lady Luck Casino in Black Hawk.
Conclusion
Colorado sports betting is rapidly developing, and all forecasts show that local gambling revenues will keep growing within the next two or three years. We hope our guide helped you, and you can take part in the overall fun, too! The last but not least thing: gamble responsibly. It’s easy to get lost in the ocean of sportsbooks and lucrative gambling offers, so remember the responsible gambling principles. Don’t let your sports betting hobby control your life, and don’t deal with doubtful bookies that won’t support you in case of problem gambling.
FAQ
The gambling age in Colorado is twenty-one. You can’t register at any sportsbook or place bets at a brick-and-mortar casino if you are underage. Some states allow gambling from eighteen, so you are welcome to visit them for a sports betting experience before you are twenty-one. In this case, you will not break any rules, even if you permanently reside in Colorado.
At any sportsbook, approved by the Colorado Gaming Division. The options are numerous: from the industry giants like DraftKings, BetMGM, and PointsBet, to local exclusive offline and online venues like BetWildwood.
Yes, DraftKings is live in Colorado and welcomes all online bettors to its website or iOS and Android apps. Besides, DraftKings is available as a retail sportsbook in Black Hawk: visit the Mardi Gras Casino to make offline bets.
Yes, Colorado online sports betting is legal. The Colorado lawmakers signed the bill in May 2019. The bill allows all types of online sports betting at legally licensed sportsbooks in Colorado, excluding wagers on high-school teams and college sports props. All bettors can sign up at sports betting apps and sites remotely and don’t need to visit a retail sportsbook for registering.
Get bets with a yield of 100-700% delivered straight to your inbox!
