Colorado online sports betting is now live, making it the 19th state in the United States to offer league wagering.
Best Colorado Sports Betting Apps
1. DraftKings Sportsbook
DraftKings Sportsbook is arguably the gold standard of online sports betting apps. Any bettor interested in Colorado online sports betting should give DraftKings Sportsbook a long, hard look. For those who want to roll with an app that’s gone well above proof of concept, look no further; DraftKings Sportsbook has absolutely crushed it on the East Coast in New Jersey and Pennsylvania, as well as in the Midwest in Indiana. Their gorgeous app design is the epitome of user-friendly, while their diverse offerings of daily specials and odds boosts is one of the best in the business. Plus, they have had some exceptional offers for first-time bettors as they’ve rolled out in other states. Bettors in Colorado will be no exception, as DraftKings Sportsbook is offering free bet bonuses of up to $1,000.
2. FanDuel Sportsbook
Arguably the most recognizable name on our list is that of FanDuel Sportsbook. What started as a daily fantasy sports competition with DraftKings Sportsbook has moved to the online sports betting arena, which has certainly boosted FanDuel Sportsbook’s immediate legitimacy in the minds of many bettors. While they don’t offer the $1,000 bonus upside of the aforementioned DraftKings Sportsbook, FanDuel Sportsbook offers a simple $500 risk-free bet for new players. There’s no red tape; it really is that simple. Plus, with competitive odds boosts and daily promos, FanDuel Sportsbook is one that anyone interested in Colorado online sports betting should take a look at. Plus, there might not be another app on this list that provides such a sleek, user-friendly setup.
BetMGM is the best of the casino-based online sportsbooks. They feature an updated, modern interface, and licensing partnerships with most of the major sports leagues.
4. FOX Bet
If there’s one thing that FOX Bet brings to the table from the get-go, it’s brand legitimacy. FOX Bet offers many of the same kinds of daily bonuses, parlays, and odds boosts you’ll find elsewhere, but FOX Bet’s ability to leverage FOX Sports personalities is unparalleled. There are plenty of money-back guarantees offered by FOX Bet that effectively eliminate any loss potential. Plus, FOX Bet offers a $500 risk-free first bet for new users. If you’re looking for an app with brand legitimacy, brand integration for the biggest games on Sunday, and money-back guarantees, FOX Bet is a must-have.
NOT YET LIVE.
What PointsBet lacks in name recognition it more than makes up for in unique sports betting options. PointsBet has made strategic decisions in terms of which states they’ve rolled out their app in, creating legitimate FOMO in Pennsylvania, where bettors can only look longingly at the app available in New Jersey. PointsBet has perhaps the most aggressive odds boosts in the business, along with bet insurance on many offers, reducing the fear of losing out on money placed on some bets. The key feature that PointsBet offers that you will not find on the more well-known brands comes in the form of “PointsBetting”. PointsBetting allows bettors to add some potential incentive to a traditional bet, where it’s possible to win or lose additional money relative to a player/team’s performance beyond the metric used for the traditional bet. They have plenty of PointsBetting explainers available online, but those interested in Colorado online sports betting should absolutely give it a shot. With a $200 sign-up bonus, it’s an attractive offering.
6. Barstool Sportsbook
NOT YET LIVE.
Prior to January 2020, there were rumors that the folks at Barstool would look to align themselves with an established brand in an effort to disrupt the online sports betting market. To that end Penn National Gaming’s partial acquisition of Barstool Sports in January caught many by surprise, but those in the know weren’t shocked in the slightest. The Barstool Sports brand has an incredibly loyal and passionate following, so Penn National Gaming’s move to brand their online sports betting app using Barstool Sports’ name is genius. The only drawback at the moment is that the app is yet to launch, so we don’t know for certain what kinds of offers they’ll have for new users.
Why Colorado Sports Betting Matters
The diverse offering of mediums for legalized sports betting in Colorado is sure to provide a rather large boost in potential tax revenue for the Centennial state with projections landing in the $20-30 million range. It’s worth noting that some states have blown their initial projections out of the water. Given the online, mobile, and in-person options available, it wouldn’t be surprising to see the generated tax revenue pass the projected threshold.
While the online and mobile sports betting options are certain to bring in plenty of revenue, many are underrating Colorado’s in-person betting potential. Colorado’s greatest advantage relative to in-person betting is simple: location, location, location. Of the seven states bordering Colorado, only New Mexico offers any kind of legalized betting via tribal casinos. It stands to reason that there will be quite a sizable influx of visitors from neighboring Kansas, Nebraska, Oklahoma, Arizona, Utah, and Wyoming, where no sports betting is offered. In fact, only Nebraska, Arizona, Wyoming, and Kansas have made any effort to propose legislation for sports betting, though those efforts have barely made it beyond the initial proposal stage. Simply put: legal sports betting of any kind is highly unlikely any time soon, which should serve as fantastic news to operators in Colorado.
The State of Sports Betting at Launch
There is some bad news for Colorado online sports betting going live during the current state of world affairs. Domestically, the NBA, NHL, MLB, and MLS have all paused or postponed their seasons indefinitely. Meanwhile, questions persist about the feasibility of full football seasons, particularly regarding the possibility of any NCAA sports being played in early Fall 2020.
To compound issues with domestic leagues, international associations, which could have provided a boost to online sports betting, have also gone dark, with France recently cancelling all remaining Ligue 1 and Ligue 2 games. German chancellor Angela Merkel is expected to announce the postponement of the May 9 return to play of the Bundesliga, which also casts doubt on any immediate return to play for the EPL or La Liga.
Still, it’s not all bad news. NASCAR and UFC events will resume in May, while there is growing optimism that Major League Baseball could soon return in some capacity by July. Niche sports, along with Colorado’s approval of ESports betting, will provide players with plenty of betting options until more prominent leagues resume.
There’s a flip-side to any of the negative developments that have come out in the news: it’s highly unlikely any of the aforementioned neighbor states will entertain any sports betting legislation while the COVID-19 pandemic is the lead issue around the world. It’s not inconceivable that six neighboring states -not including New Mexico- will hold off on any meaningful sports betting legislation until 2021, though that remains to be seen.
Is sports betting in Colorado legal?
Yes, sports betting is legal in Colorado. Thanks to the passing of House Bill 19-1327, Proposition DD was approved by Colorado’s voters in November 2019, which allowed online and brick-and-mortar sports betting with implementation slated for May 1, 2020.
Where can I bet on sports in Colorado?
Anyone interested in betting on sports in Colorado can do so at 33 of the 40 in-state, brick-and-mortar casinos, as well as virtually anywhere in the state via the online mobile apps. It’s worth noting that not every casino will be rolling out sports betting on May 1; some might not end up offering sports betting at all.
Which sports can I bet on in Colorado?
Traditional betting options including win/loss, prop bets, total bets, over/under, and more are set to be available for domestic and international leagues at the professional level. Additionally, major college sports, motor racing, and approved video games will be available to bet on.
Is it possible to legally bet on sports in Colorado?
Indeed it is. Not only does Colorado offer legal sports betting online and via mobile apps, but at up to 33 of 40 brick-and-mortar casinos as well.
When will legal sports betting be available in Colorado?
The Colorado legislature put in stipulations that legal sports betting in Colorado can begin on May 1, 2020.
Do I have to physically be in Colorado to bet?
Yes and that’s a critical thing to note. The apps that allow bettors to access legal online sports betting in Colorado must be accessed from within the state’s limits.
Do I need to be a Colorado resident to bet in Colorado?
No. The legislation passed as part of House Bill 19-1327 and voted on in Proposition DD, there is no residency requirement to legally bet on sports online in Colorado.
Is there an age requirement to bet on sports in Colorado?
Anyone interested in betting on sports online in Colorado must be at least 21 years old.
How much tax revenue will be generated by legal sports betting?
Colorado has an incredibly competitive tax rate on legal sports betting at just 10%, which is about a third of the outrageous 36% rate charged by Pennsylvania.
Where is that generated tax revenue going to go?
As is often the case in passing legislation, there’s almost always something attached to appeal to a wider swath of the legislature’s constituents. As part of Proposition DD, the 10% tax rate charged via online sports betting will be used in funding the Colorado Water Plan. The CWP includes water storage and irrigation projects meant to aid with future climate change.
There is a plethora of ways to deposit money into online sportsbooks and apps, including:
- Online banking (checking/savings accounts)
- Credit/Debit cards
- Wire transfer
- Cash payment at 7-Eleven
- Cash at Cage
There is some variance from different sportsbooks in terms of withdrawing money, but the most common include:
- Online banking
- In-Person cash-outs
- Instant eChecks