Colorado (CO)

The road to legal sports gambling in the US state of Colorado has been relatively smooth. As of 2019, sports betting has been permitted in the state, although the bill concerning in-person and online wagering has known opposition.

As sports gambling is entirely legal in the state, plenty of CO betting apps are available, both domestic and offshore. So, keep reading to find out all there is to know about bettors' options in Colorado.

Online Sports Betting in Colorado

Making joint efforts, the Centennial State's lawmakers worked to create the legal framework for sports gambling which resulted in creating HB19-1327. The bill regulated both venue and online sports betting and had its support from both Democrats and Republicans. Indeed, since May 1, 2020, the revenue department has regulated Colorado's online sports betting, and thus both sportsbook apps and other gambling websites are available to the public.

Still, the institution can issue only a limited number of licenses for operators. Also, CO sports betting venues can hold a "master license" only after paying a fee and being subject to a full background check.

Although sports betting has been legal for a few years, retail casinos have been permitted since 1990. Still, Colorado casinos can operate in only three of the state's towns: Cripple Creek, Black Hawk, and Central City. On top of that, the Indian Gaming Regulatory Act permits casinos to operate on its lands, and charitable gambling is also legal in this US state.

But CO does not allow all types of gambling. Besides casinos and online sports betting, the only exceptions in CO are the lottery, horse racing, licensed gaming, and social gambling. So players have plenty of options in CO, both at in-person venues or online operators.

Sports Betting Legislation in CO

After the fall of PASPA, efforts to make sports betting legal in Colorado resulted in the creation of HB 19-1327, which aimed to legalize retail sportsbooks and online venues and apps. Some people wanted the law to impose a $100 limit on sports wagers, the same limit on casinos, while others pushed to include racetracks in legalized sports betting.

Despite the different voices, the bill passed in 2019, but not with the ease it was expected.

Although the law moved quickly through the state's chambers, there was a need to get approval from the public. Both FanDuel Sportsbook and DraftKings Sportsbooks invested over $1.5 million in getting the law approved. The November 2019 ballot included Proposition DD, so the crowd made its decision. It was no surprise that the law entered into force.

Still, Proposition DD passed by less than 50,000 votes. Many countries were against it, but the Denver area and similar zones carried the bill to victory.

Restrictions

To bet in Colorado, players must be at least 21 years old. In addition, they will have to be physically present within the state limits, but they don't have to have a CO address to make their bets.

Players can also bet on both apps and websites. Still, they can't make a wager in school sports. That shouldn't keep them from trying out sports betting as there are plenty of types of bets they can make: total bets, moneyline bets, future bets, spread bets, parlays, and even traditional wager types.

Licensing and Taxes

To get a license, a sportsbook operator must apply online or in-person in a Gaming office of the Division of Gaming. Additionally, they need a credit card to apply as they will be charged $.75 per transaction plus 2.25% of the service fee.

After getting a license in CO, operators will have to pay a 10% tax, according to the Proposition DD amendment, which passed in November 2019. Indeed, casinos in the state of Colorado also pay the same 10% tax.

How profitable has sports betting been for Colorado?

The state of Colorado has benefitted majorly since legalizing sports betting, and we'll break down the monthly numbers for their sports betting handles, revenue, and tax income made by the state.

• September 2023:

  • Sports betting handle: $512.8m

  • Revenue: $45.3m

  • Tax income for the state: $3.1m

• August 2023: Handle: $306.1m, Revenue: $25.9m, Tax Income: $1.8m

• July 2023: Handle: $281.1m, Revenue: $19.1m, Tax Income: $1.8m

• June 2023: Handle: $310.6m, Revenue: $9.22m, Tax Income: $441,951

• May 2023: Handle: $385.2m, Revenue: $31.4m, Tax Income: $2.2m

• April 2023: Handle: $417.8m, Revenue: $35.1m, Tax Income: $2.58m

• March 2023: Handle: $494.4m, Revenue: $45.9m, Tax Income: $3.1m

• February 2023: Handle: $425.14m, Revenue: $22.5m, Tax Income: $1.25m

• January 2023: Handle: $547.1m, Revenue: $35.4m, Tax Income: $2.5m

2022

• December 2022: Handle: $518m, Revenue: $40.9m, Tax Income: $2.5m

• November 2022: Handle: $552.6m, Revenue: $37.5m, Tax Income: $2.5m

• October 2022: Handle: $526.6m, Revenue: $36.5m, Tax Income: $2.3m

• September 2022: Handle: $450.2m, Revenue: $51.3m, Tax Income: $2.9m

• August 2022: Handle: $290.1m, Revenue: $25.8m, Tax Income: $1.8m

• July 2022: Handle: $258.4m, Revenue: $20.8m, Tax Income: $1m

• June 2022: Handle: $313.2m, Revenue: $6.7m, Tax Income: $268,380

• May 2022: Handle: $360.3, Revenue: $27.1, Tax Income: $1.6m

• April 2022: Handle: $392.3m, Revenue: $22.5m, Tax Income: $1.2m

• March 2022: Handle: $505.6m, Revenue: $28.2m, Tax Income: $1.3m

• February 2022: Handle: $440.5m, Revenue: $19.6m, Tax Income: $314,731

• January 2022: Handle: $573.7m, Revenue: $34.6m, Tax Income: $1.4m

What is legal to bet on in CO?

No matter what the league players want to place a bet on, they will have to be at least 21 of age to place a wager. If they comply with the age limit, they will have a lot of options to choose from: national and international professional sports, motor racing, major college sports, and even sanctioned video games sports.

Horse race betting in-person and online is also legal in Colorado. Still, bettors can not make wagers on high school sports, as this is prohibited. What is also amazing is the option to go for live or in-play betting as there are plenty of sportsbook operators that offer in-play odds on football, horse racing, basketball, and many other sports leagues.

In fact, the betting options at regulated Colorado operators include most sports. So players should check the offer and pick some of their favorites. Just continue reading to find out more about the inner workings of sports betting in CO.

Gambling news and updates from Colorado

• July 24, 2023: Denver Broncos defensive lineman Eyioma Uwazaurike has been suspended indefinitely for violating the NFL's gambling policy, which makes him the tenth player this year to be suspended for a violation.

• June 14, 2023: Sports betting exchange apps like Sporttrade and Prophet Exchange could be making their way to Colorado as they are both going through the sports betting licensing process with the state's gaming commission. The commission is also working on regulations for said betting exchange apps.

• June 2, 2023: The state of Colorado has now cleared over $12 billion dollars in sports betting handle.

• March 30, 2023: PointsBet Sportsbook and the University of Colorado end their partnership after two years. This comes after the report that the investigation of relationships between colleges and sportsbooks will begin soon.

• March 8, 2023: The WWE announced they would like to explore the possibility of partnering with Colorado sports betting regulators to allow fans to wager on the sport.

• January 11, 2023: The chairman of Colorado's two Native American tribes speaks to the legislature about the struggles they are having after being left out of the sports betting legalization conversation that went on in the state in 2019.

How do mobile sportsbook apps work in Colorado?

Mobile apps became legal in 2020, the same year online sports betting became legal, and so did Colorado mobile betting. As of that moment, the offer could fit any taste, including operators such as Ceasars Sportsbook, Fanduel Sportsbook, Bet MGM, Fox Bet, or Betfred.

Most sportsbook operators from CO have mobile apps available on App Store (iOS), Google Play (Android), and Web Browser. These apps have excellent overall functionalities, and players can benefit from the same advantages on desktop and mobile versions.

To sign up, users must create an account, choose a username and give an email address and a password. One can also enter a promo code on some platforms to get a bonus. All options have a welcome bonus attached to the account creation, which users can use on free bets or when they make their first deposit.

Most mobile apps work in similar ways after the creation of the account. Players can see sportsbook odds, betting guides, and even make a wager on the sport and team of their preference, as the mobile apps are pretty intuitive and user-friendly. Some may be better than others, and the one impressive app is the Caesars Sportsbook app, one of the oldest on the market.

Getting started - Step-by-step

1. Sign up: Registration is an intuitive process. Players should go on the website of their preference and look for the sign-up button. Clicking on it reveals a sign-up window on the screen, where they must pick a username and a password and give an e-mail address. Then players will have to provide personal information, such as full name, date of birth, or address. Players have to secure their account and confirm their location, and they're ready to wager in Colorado.

2. Download the preferred sports betting app: To download their preferred sports betting app, go to App Store and Google Play and pick it from the list. Click on install, and the app will download to their phone.

3. Make a deposit — fund your account: Players need to go to the deposit section in their CO sports betting app and give their card details. Then they're ready to make a wager.

4. Claim offered bonuses / free bets: From the app, players can claim their bonus or free bets and wager on their preferred team.

5. Place your bets: Go to the dedicated section, set the bet, and place a bet.

Bonuses and CO sports betting offers

Apps and sites offer many bonuses and promotions to attract new players and keep them returning for more. Besides welcome bonuses, there are some other promotions and offers they can get with these Colorado sports betting operators:

• Deposit bonuses

   match a portion of the invested money or even the whole deposit. BetRivers offers up to a $250 Bonus on deposit in their promotional offer.

• Free bets

   are vouchers that permit players to make a bet in a specific denomination. These bets can't be divided, and if players win with one, they will get only the winning and not the value of the bet. BetMGM offers a $10 free weekly bet.

• Risk-free bets:

   the sportsbook will give players a refund in free bets if they lose the qualifying bet. For example, BetWay offers a $500 risk-free chance.

Payment methods for depositing

The legal sportsbook operators in Colorado offer their customers safe and secure deposit and withdrawal options. Still, not all the deposit options are available for withdrawing with the sportsbook providers.

To fund their accounts, players have the following funding methods:

• Credit or debit cards such as Visa or Mastercard

• Online banking

• PayPal

• Prepaid cards

• Cash at Cage

• Pay with Cash at 7-11

• Wire transfer

Players can use these withdrawal methods to make withdrawals quickly and efficiently.

• Instant eChecks

• Online banking

• Skrill

• In-person cashouts

• PayPal

Trusted Colorado sports betting mobile apps in 2023

Originally from New Jersey, BetMGM Sportsbook has a license from the Gaming Division of the Colorado Department of Revenue. It's available on iOS, Android, and Web Browser. BetMGM is the official sports betting partner of the Denver Broncos, MLB, and DAZN. Accepted and recognized in 14 US states, it has some key features, including immediate live betting available, convenient bet slips, MGM M-Life Rewards Integration, and quick parlay options.

The same authority regulates Caesars Sportsbook and is available on desktop and mobile devices. Accepted in 11 US states, bettors can find a large variety of leagues to bet on, many bonuses and promotions, and a reliable Colorado betting app. The operator has partnerships with ESPN, CBS Sports, NFL, NBA, and NHL. And it also comes with some fantastic features: a vast market depth, a rewards system, fast deposits and cashouts, daily promotions and odds boosters, and a powerful live platform.

Fanduel Sportsbook has a CO license, and it's accepted in 10 other US states. Like the previous two, it's available from the Web Browser and in the app on iOS and Android. It also has partnerships with Bud Light, NHL, and Denver Broncos. Some key features are:

• Popular Betting Lines

• Competitive Odds for Underdogs

• Variety of Promotions

• Fantasy Sports Integration

Colorado Sports betting at casinos

Each sportsbook in Colorado has a retail casino partner where people can place bets in person and enjoy the brick-and-mortar experience. There are over 20 casinos where players can make bets on sports, including Midnight Rose Casino, JP McGill's Hotel & Casino, Golden Gates Casino, and Mardi Gras Casino.

These casinos present the same offer as the sportsbook they are partnering with. This arrangement means bettors can find the same leagues and make bets on their favorites the way they would online. At these brick-and-mortar venues, players can place bets on the sports of their preference: football, baseball, basketball, hockey, racing, MMA, and many more.