FanDuel Sportsbook is live in Colorado! Get a Risk-Free Bet up to $1,000 Bet now. Disclaimer: 21+ and present in CO. First real money wager only. Refund issued as nonwithdrawable site credit that expires in 14 days. Gambling problem? Call 1-800-522-4700. Colorado Online Sports Betting Brings Stiff Competition In addition to the aforementioned sportsbook operators, FOX Bet, PointsBet, and even the yet to be launched Barstool Sportsbook will likely wind up in Colorado sometime in 2020, creating what is expected to be one of the most hotly contested legal sports betting states in the country. Sports betting in Colorado has been legal since November 2019 and is now available to anyone above the age of 21. So, as long as you are 21 or older and physically present within the Colorado state borders, you can legally bet on sports in the Centennial State. Where Can you Bet On Sports In Colorado? DENVER - Voters have narrowly passed a ballot measure making Colorado the 19th state to legalize sports gambling, with the new tax revenue slated for water conservation projects. Sports Betting Revenue Projection If Okayed in Colorado: $259 Million Gary Wockner, an environmentalist who has for years railed against the state’s water plan, led the opposition to DD.

Within days of the launch of Colorado online sports betting, several new platforms debuted in the Centennial State. May 1, 2020, marked the date for the newest big arrival in the legal US sports betting market.

Four new sports betting platforms launched in Colorado shortly after legislation regulating online sports betting went into effect. This paved the way for legal sports betting in the state after residents voted Proposition DD into law the prior year.

Proposition DD legalized both retail and online sports betting in Colorado. In the months since Colorado’s launch, many new operators have started to make their mark in the state.

When the state’s new sports betting industry reaches full maturity, Colorado bettors could have access to 20 or more different online sportsbooks. In its second month, June 2020, Colorado sportsbooks took in over $38 million in wagers, even while virtually no sports played in the US.

Now, we’re starting to see Colorado come into its own as a sports betting leader. New operators are entering the market and making moves to build an audience in the Centennial State.

Best Online Sportsbooks In Colorado

• DraftKings Sportsbook: Claim up to $1000 bonus here.
• FanDuel Sportsbook: Claim up to $1000 bonus here.
• BetRivers Sportsbook: Claim up to $250 bonus here.

All Colorado Online Sportsbooks

DraftKings Sportsbook

One of the top players in the US legal sports betting industry, DraftKings Sportsbook was one of four platforms to launch in Colorado on May 1, 2020.

After going live as one of Colorado’s first operating mobile sports wagering sites, DraftKings Sportsbook appears poised to be one of the leading brands in the Colorado market. DraftKings Sportsbook operates under the license of Golden Gates Casino, which is owned by Twin River Worldwide Holdings.

Take advantage of up to $1000 in bonus offers at DraftKings Sportsbook here.

BetRivers Sportsbook

Owned by Rush Street Interactive, the BetRivers brand is another emerging player in the US legal sports betting market. With the May 1, 2020 launch of its platform, BetRivers added Colorado to the growing list of states in which it operates.

JP McGill’s Hotel & Casino is the land-based casino license partner for BetRivers Sportsbook. Triple Crown Casinos owns the property.

Check Out BetRivers Colorado Bonus Offers Here.

William Hill

Another sportsbook from across the pond, UK-based William Hill is one of the bigger names in sportsbook apps, a status that has only grown following the recent takeover of the bookmaker by Caesars Entertainment. William Hill is partnered with the Isle Casino and the Lady Luck Casino in Black Hawk. William Hill offers new sign-ups an up to $500 risk-free bet.

Get up to a $500 risk-free bet at William Hill Colorado here.

PointsBet

The PointsBet brand already operates in a handful of US states. The Australian-owned brand features the unique PointsBet betting method. This allows bettors to win more money on a game based on the final score margin. PointsBet Colorado launched in November 2020 under the license of Double Eagle Hotel and Casino.

In August 2020, PointsBet announced a 5-year partnership with NBC Sports, which could see the company expand into the US sports betting market in a way we didn’t anticipate. They also announced a partnership with the University of Colorado and established their US headquarters in Denver, showing a commitment to the state.

SportsBetting.com

The Carousel Group, an international iGaming company, plans to expand into the US with its SportsBetting.com brand. SportsBetting.com launched on May 12 in Colorado is slated as the first US state in which SportsBetting.com will launch. The platform is licensed to Johnny Nolon’s Saloon & Gambling Emporium.

BetMGM Sportsbook

The BetMGM brand continues to expand into the US market, with online casino and sportsbook products in several states. Formerly known as playMGM, the rebranded BetMGM operates in Colorado under the license of Midnight Rose Hotel and Casino. The land-based property is owned by Triple Crown Casinos.

BetMGM is a product of ROAR Digital, which is a collaborative venture between MGM Resorts and gaming brand GVC Holdings. BetMGM was one in the first group of online sportsbooks to launch in Colorado on May 1, 2020.

Start Playing At BetMGM Colorado Here.

FanDuel Sportsbook

The US legal sports betting industry is still evolving, but FanDuel Sportsbook’s status as one of the leading brands in the market isn’t likely to change anytime soon.

FanDuel Sportsbook was among the first legal sports betting platforms to go live in Colorado, launching on May 1, 2020. Golden Gulch Casino, owned by Twin River Worldwide Holdings, is the land-based license partner for FanDuel Sportsbook.

BetMonarch

Unlike the other mobile sportsbook brands on this list, BetMonarch is a homegrown product. The BetMonarch app is owned, operated, and licensed to Monarch Casino.

Located in Black Hawk, Colorado, Monarch Casino is the first land-based property to launch its own Colorado online sports betting site. The product debuted on May 9, 2020, just days after the initial introduction of online sportsbooks in the state.

FOX Bet

Bettors in the US can expect FOX Bet to be a major presence in the legal sports betting industry. The brand operates as a partnership between FOX Sports and the Stars Group, which are giants in the sports media and online gambling industries, respectively.

The FOX Bet Colorado mobile sportsbook app launched on May 19, 2020, as a license partner of Lady Luck Blackhawk. Lady Luck is owned by Caesars Entertainment following the company’s merger with Eldorado Resorts.

Sky Ute SportsBook

Sky Ute SportsBook landed in the Colorado history books as Colorado’s first tribal sportsbook, a partnership between the Southern Ute Indian Tribe-owned Sky Ute Casino and Las Vegas-based USBookmaking. Sky Ute SportsBook promises better odds than most sportsbooks because it’s not bound by Colorado state law.

SBK by Smarkets

Smarkets operates differently than most traditional sportsbooks, with odds created by sports bettors in the company’s native UK. Colorado sports bettors aren’t allowed to participate in the market making, but can reap the benefits: which include some of the best odds available at any Colorado sportsbook.

Circa Sports

Circa Sports started in Las Vegas. They recently expanded into Colorado with its first online sportsbook outside of Nevada after partnering with Century Casino. Circa offers high limits and competitive odds.

ELITE Sportsbook

ELITE Sportsbook launched in Colorado through a partnership with the Red Dolly Casino in Black Hawk. Its app and website are taking bets now, with a variety of props and parlays, including what it claims is the only bookmaker in Colorado to offer a progressive parlay. New players can get a sign-up bonus worth up to $1,000 in free bets.

BetFred

With more than 1,500 locations, Betfred is a big name in sports betting in the UK, but its US expansion is relatively new. Colorado is Betfred’s second US market, the first being Iowa. Betfred’s local partner in Colorado is the Saratoga Casino in Black Hawk. New bettors can get a $500 risk-free bet as a welcome bonus.

theScore Bet

theScore Bet has the distinction of being the first sportsbook to be launched by a North American media company, Score Media. It offers a variety of moneyline, spreads, parlays, props and teasers, and all major sports are accounted for in the app. New Jersey was theScore’s first launch, and it’s partnered in Colorado with Jacobs Entertainment, owners of The Lodge Casino and the Gilpin Casino in Black Hawk.

BetWildwood

BetWildwood was among Colorado’s first home-grown sportsbooks, a product of the Wildwood Casino in the mountain casino town of Cripple Creek. Bettors will find a variety of moneyline and spread bets on the events and sports you’d expect, many of which offer in-game betting. New bettors can receive up to a $50 free bet.

BetAmerica

Owned by Churchill Downs Incorporated, BetAmerica is another emerging brand in the legal US sports betting industry. BetAmerica is approved for operation in Colorado as a license partner of Bronco Billy’s Casino and Hotel, owned by Full House Resorts.

SuperBook

SuperBook’s home base in Las Vegas is the world’s largest retail sportsbook. SuperBook’s expansion plans outside of Nevada include a mobile sports betting platform in Colorado.

SuperBook has a nationwide partnership in place with Jacobs Entertainment. The Lodge, a Jacobs-owned Colorado property, will license the SuperBook mobile platform in Colorado.

SuperBook originally planned for a May 1 launch to coincide with the opening of Colorado’s sports betting market. However, the company delayed the launch due to sports league shutdowns. They ultimately launched in October 2020.

Colorado Online Sportsbooks At A Glance

Check out our Guide To Online Sports Betting In The US.

Coming Soon To Colorado

Wynn Sportsbook

Full House Resorts and Wynn Resorts inked a partnership to bring Wynn Sportsbook to Colorado. The launch date for Wynn Sportsbook is unannounced. When it does go live, Wynn Sportsbook will operate as a license partner to Full House-owned property Bronco Billy’s Casino.

Barstool Sports

A Barstool Sports-branded legal online sportsbook will hit the Colorado market as a licensed product of Ameristar Blackhawk Casino. That land-based property is operated by Penn National Gaming, which also owns Barstool Sports. Barstool CEO Erika Nardini recently suggested a September launch window for the company’s sportsbook. On November 5, the Barstool-branded retail sportsbook opened at Ameristar Blackhawk, but it’s looking like a 2021 launch for the sportsbook app.

Twin River

Twin River Worldwide Holdings owns three retail casinos in Colorado, as well as three internet sports betting licenses. Two of those licenses are already utilized in partnership with DraftKings Sportsbook and FanDuel Sportsbook. They plan to launch a third online sports betting site in the future.

Bonuses At Colorado’s Online Sportsbooks

Risk-Free Bet

The most common bonus available at Colorado’s legal online sportsbooks comes in the form of the risk-free bet offer.

Risk-free bets offer a rebate, up to a certain amount, on the first bet made at a mobile sportsbook. The rebate is only applied if that first bet results in a loss.

FanDuel Sportsbook, for example, offers a risk-free bet, up to $1,000, for new players. After depositing, the first bet made on the platform is eligible for up to a $1,000 refund, but only if the bet is a loss.

For amounts smaller than $1,000, the risk-free bet refund would match the amount of the bet. A $250 bet, and a loss, would garner a $250 rebate.

On bets larger than $1,000, the maximum refund amount is $1,000.

Deposit Match Bonus

A widely offered bonus found at many online gambling sites, the deposit match bonus awards bonus money that matches a certain percentage of a deposit.

BetRivers Sportsbook presents one of the industry’s most generous deposit match bonus offers to new players. The first deposit at BetRivers is eligible for a 100% match bonus, up to $250.

Utilizing this bonus, a new player can make their first deposit at BetRivers, and earn up to $250 in bonus money. Deposits smaller than $250 are eligible for bonus money that matches the deposit amount.

Deposit match bonuses generally come with a playthrough provision. This requires players to wager a certain amount to unlock the bonus. Many of these bonuses require a 25x playthrough or more, meaning a player has to wager 25 times the amount of the deposit to unlock the bonus.

The BetRivers bonus, however, only requires 1x playthrough, essentially giving new players up to $250 in free bets.

No-Deposit Bonus

One easy way to get started at an online sportsbook is through no-deposit bonus offers. These bonus offers are not as common on sports betting sites. When you do see them, they are often in small amounts, like $25 or $35. New bettors will see the amount in their account just after registering.

Colorado’s Mobile Sportsbooks

The passage of Proposition DD made Colorado one of the latest US states to embrace sports betting after the fall of PASPA (Professional and Amateur Sports Protection Act). PASPA was a federal mandate that outlawed sports wagering. In May 2018, the Supreme Court of the United States overturned the act.

With PASPA overruled, a new era of legal sports betting dawned in the U.S. Now that it’s launched sports betting, Colorado is a significant player in the industry. Colorado officially launched legal sports betting on May 1. Since then, sportsbooks from around the globe have set up shop in the Rocky Mountain State.

Proposition DD

Proposition DD legalized both retail and online sports betting in Colorado. The May 1, 2020 launch date allowed the state’s land-based casinos to operate on-property sports betting for the first time in the 30-year history of Colorado’s casino industry.

The legislation also allowed Colorado casinos to offer online sports betting. The mobile sports wagering platforms authorized by state law likely will produce most of the revenue realized by the state’s sport betting industry as a whole.

Access To Sportsbooks Statewide

Colorado limits land-based commercial casinos to the towns of Black Hawk, Cripple Creek, and Central City, apart from a pair of tribal casinos in the southwest region of the state. Players can access mobile sports betting apps offered by these casinos, however, from anywhere within state borders.

Mobile apps give bettors superior ease of access to the entire lineup of online sports betting platforms available in the state. Deposits and withdrawals, line shopping, and research are all far more convenient on mobile wagering sites, versus their land-based counterparts.

Colorado’s mobile betting platforms use geolocation software to determine a user’s location. This gives players the ability to wager from anywhere in the state. It also offers bettors from surrounding states the opportunity to drive into Colorado and place a sports bet with ease.

Early Signs Of Mobile Sports Betting Success

In states like Pennsylvania and New Jersey, mobile sports betting makes up more than 85 percent of overall sports betting revenue. That same trend will almost certainly hold in Colorado.

Colorado’s land-based casinos operate with strategic technology partners for their online sports betting platforms. This new market has attracted just about all of the biggest brands in the sports betting industry.

FanDuel Sportsbook and DraftKings Sportsbook are two of the industry’s leaders in US mobile sports betting. Both companies have sportsbooks live in Colorado, alongside other major players like FOX Bet, BetRivers, and BetMGM.

Other sports betting powerhouses like William Hill, PointsBet, BetFred, and Circa Sports, have all been granted licenses to operate in Colorado.

The presence of these major brands will make Colorado a key player in the US sports betting market.

Early revenue numbers signal that Colorado will have a strong sports betting presence. The state could quickly become an industry leader. In its first month with online sports betting (amid a global pandemic and casino closures), Colorado drew in $25.5 million in gross, unaudited revenue. June 2020 brought an even bigger revenue spike. Colorado sports betting earned $38 million in its second month of operation.

What Sports Can I Bet On In Colorado?

Betting On US Pro Sports

Colorado’s capital city, Denver, holds a professional sports distinction that only a few other US cities can claim.

Denver is home to teams in all four major US sports leagues. Major League Baseball’s Colorado Rockies, The NFL’s Denver Broncos, the NHL’s Colorado Avalanche, and the Denver Nuggets of the NBA make Colorado a major sports hub in the US.

The legalization of sports betting gives Colorado’s sports enthusiasts access to betting markets featuring all of the Centennial State’s major teams. The entire regular season and postseason schedule is available to bet on for all four major leagues.

Ways to bet on these games include point spread, moneyline, parlay, and live in-game betting.

These options are available for virtually every game on the schedule. Futures betting markets and prop bets are also widely offered on the four major US sports leagues at Colorado’s legal online sportsbooks.

Other US Sports To Bet On In Colorado

Colorado sports betting law also allows for betting on the Colorado Rapids of Major League Soccer, as well as the National Lacrosse League’s Colorado Mammoth. Betting isn’t just limited to these in-state franchises. Colorado’s legal online sportsbooks offer bets on the entire schedule in these leagues.

MMA, boxing, and NASCAR, as well as major tennis and golf events in the US, are open for betting on Colorado’s legal mobile sports betting apps as well.

See our complete guide on How To Bet On Sports Online.

College Sports Betting In Colorado

Betting on college sports is legal at Colorado’s online sportsbooks. This includes major sports like college football and college basketball, both of which offer plenty of options for betting on Colorado-based teams.

The only restriction on college sports betting in Colorado is a ban on prop betting. Other than that, Colorado bettors can legally bet on numerous sports, including contests involving home teams.

University Of Colorado Buffaloes

The Colorado Buffaloes sit at the epicenter of Colorado’s college sports tradition. A college football staple for much of the past century, the Buffaloes play in the PAC-12 conference.

Annual big games for the Buffaloes include PAC-12 matchups against the Utah Utes, USC Trojans, UCLA Bruins, and Oregon Ducks. The Buffaloes’ yearly schedule also includes a non-conference matchup against their in-state rivals, the Colorado State Rams. PointsBet Sportsbook announced a partnership with the University so expect to see a push for betting of Buffaloes games.

Colorado State Rams And Air Force Falcons

The Colorado Buffaloes, Colorado State Rams, and Air Force Academy Falcons are the three biggest college sports programs in the state. Colorado bettors can legally bet on all three schools, all of which are on the national radar in both college football and basketball.

Both Air Force and Colorado State play in the Mountain West Conference and play against each other in big, cross-state matchups nationally.

In addition to football and basketball, other sports legally available to Colorado bettors include college baseball, softball, hockey, lacrosse, and others.

International Sports Available On Colorado Online Sports Betting Sites

International sports betting markets are aplenty at Colorado’s legal online sportsbooks. Platforms like DraftKings Sportsbook and FanDuel Sportsbook offer bets on a wide array of international contests.

With these international sports on the menu, Colorado players will find no shortage of year-round betting opportunities.

Major International Soccer Leagues

Colorado’s online sportsbooks offer betting markets that feature all of the biggest leagues in the world’s most popular sport.

Teams like Real Madrid and FC Barcelona of Spanish La Liga are open for betting. The English Premier League, and its powerhouse clubs like Arsenal and Manchester United, are available to Colorado bettors as well.

Germany’s biggest league, Bundesliga, offers yet another available betting market for international soccer. Interleague events like the UEFA Champions League are on the menu as well.

International Golf And Tennis

Major events in golf and tennis take place all around the world, and Colorado’s legal online sportsbooks grant bettors access.

International tennis majors like the Australian Open, French Open and Wimbledon, and other overseas events from the ATP and WTA are on the board. Golf majors, like the British Open, are open for wagering in Colorado as well.

Other International Sports And Events

Colorado’s legal online sportsbooks offer a wide scope of other international betting markets. These include international leagues and events in rugby, hockey, basketball, baseball, table tennis, darts, and cycling.

Can You Bet On Esports In Colorado?

Colorado’s expansion into legal online sports betting doesn’t include esports betting, for now.

Esports rising popularity shows no signs of diminishing, as games like Dota 2, Counter-Strike: Global Offensive, and others created robust betting markets at offshore gambling sites.

The future looks bright for esports to continue its ascent into mainstream culture. ESPN began broadcasting competitive events for games like NBA 2K and Rocket League in 2020.

As esports competitions continue to rise in popularity, state-level legislation on esports betting could change to include legal esports betting.

What Else Can You Bet On In Colorado?

The Colorado Division of Gaming, which regulates online gambling in Colorado, has language in place to allow for betting on new sports that might come into the market.

Newly formed leagues can apply for authorization to be included on the menus of Colorado’s legal online sportsbooks.

Can I Place Parlay Bets At Colorado’s Online Sportsbooks?

Throughout the history of sports betting, parlay bets have offered some of the most enticing odds, and biggest potential payouts, of any kind of bet.

Colorado’s legal online sportsbooks offer numerous parlay betting options. Parlay bets will almost certainly be a popular option for Colorado bettors as the state’s legal online sportsbooks continue to launch.

Traditional Parlay Bets

Parlays allow for multiple bets to be combined into one bet, with an exponentially higher payout for a win. For a parlay bet to be a winner, however, all bets in the parlay must be a winner.

For example, standard odds for a single bet are often -110, meaning a $110 bet yields a $100 profit if the bet is a winner. Taking two separate -110 bets, and combining them into a two-team parlay, could yield a 13-to-5 payout. A three-team parlay could yield a 6-to-1 payout, and so on.

Parlay bets allow bettors to dream big, as the odds increase with each bet added. Parlays can involve point spread, moneyline, and over/under bets.

The total payout for a winning parlay depends on the odds of the individual bets. Putting multiple underdog bets on the same parlay could yield an astronomical payout in the events of a win.

Teasers

The teaser bet takes the traditional parlay and makes it even more enticing, with more favorable points spreads.

For example, if the Denver Broncos were favored by 3 on a given Sunday afternoon in the NFL, that point spread would appear as “Broncos -3” on the betting menu. A teaser parlay could shift that line six-point, and turn that line into “Broncos +3”, which would then give the bettor the Broncos and three points.

A teaser parlay would offer the entire slate of that weekend’s NFL games at teaser odds. The payouts on a teaser parlay are considerably smaller than a traditional parlay. But bettors have a better chance of winning with the more favorable point spreads.

What Do I Need To Register At A Colorado Online Sportsbook?

Signing up at one of Colorado’s legal online sportsbooks takes just a few steps. For example, signing up at DraftKings Sportsbook requires these steps:

• Navigate to the DraftKings Sportsbook homepage, or download the app for iOS and Android devices. For iOS devices, the DraftKings Sportsbook app can be found in the App Store. For Android devices, the app must be downloaded directly from the DraftKings Sportsbook site.
• Click on the “Sign Me Up” link.
• Choose a username and password, and supply a valid email address.
• Provide proof of identity and age. Only players 21 and over will be able to access the site.
• Upon verification of email address and identification documents, new players are eligible to deposit and start betting.

You’ll find that most sportsbooks have near-identical sign up processes. You’ll always need to provide the information above to create your account at a Colorado online sportsbook.

All Colorado Sports Betting Apps In 2020

• DraftKings Sportsbook
• BetRivers
• William Hill
• PointsBet
• SportsBetting.com
• BetMGM
• FanDuel Sportsbook
• BetMonarch
• FOX Bet
• Sky Ute Sportsbook
• SBK buy Smarkets
• Circa Sports
• ELITE Sportsbook
• BetFred
• theScore Bet
• BetWildwood
• BetAmerica
• SuperBook

Online Sportsbooks: Legal Versus Illegal

The development of Colorado’s legal online sports betting market is only just getting started. By the time the industry reaches its full potential, players in the Centennial State will enjoy access to a market that could include more than 20 different platforms.

Colorado Division Of Gaming

The Colorado Division Of Gaming approves and oversees all of the state-regulated, legal online sports wagering sites. The Division of Gaming is a government agency that regulates Colorado’s entire casino industry.

The Division of Gaming’s oversight includes all legalized operators of retail and online gambling in the state. The state’s retail casinos must offer fair games, prompt payouts, and protection of personal information. They also most offer protocols for settling customer disputes.

Land-based casinos are accountable to the Division of Gaming. By extension, the legal online sportsbooks offered by these land-based casinos also operate under the Division of Gaming’s jurisdiction.

Any bet placed at a legal mobile sports wagering site in Colorado comes with the same level of security as placing a bet at a retail casino in the state.

Risky Offshore Gambling Sites

Offshore gambling sites, or any non-approved online gambling site operating within state borders, are operating illegally in Colorado. These sites are not obligated to offer the same level of security as state-regulated online gambling platforms.

All legal online sportsbooks in Colorado will feature the Division of Gaming seal.

Looking for more information? Check out our Comprehensive Guide To Online Gambling In Colorado.

Colorado Online Sports Betting FAQ

The minimum age for casino gambling in Colorado is 21. This age applies to any kind of casino gambling at a retail casino or online. The only exceptions to this rule are lottery and bingo, which carry a minimum playing age of 18.

Legal sports betting in Colorado, both retail and online, requires players to be at least 21 years old. When you register for an account, you’ll be required to confirm your age and identity, usually by providing your social security number.

Yes. Colorado is one of several states in which DraftKings Sportsbook operates legally. The platform launched in Colorado on May 1, 2020, under the license of Golden Gates Casino, owned by Twin River Worldwide Holdings.

DraftKings Sportsbook is available to Colorado bettors as a mobile app for iOS and Android devices. Players can also access the platform directly on a desktop computer.

Yes. FanDuel Sportsbook debuted in Colorado on May 1, 2020, which was the first day any of the state’s legal online sportsbooks could begin operations.

The FanDuel Sportsbook platform is available to Colorado players age 21 and over. Bettors must be located within state borders at the time of a bet to legally place a wager. Golden Gulch Casino operates the FanDuel Sportsbook license. Twin River Worldwide Holdings owns Golden Gulch Casino.

No. Colorado’s legal online sportsbooks do not offer credit lines for betting use. Potential bettors must complete the registration process and deposit funds to start betting at a mobile sports wagering site.

Some sportsbooks do offer site credit as part of various bonus offers. These credits must be used for betting, and cannot be withdrawn on their own.

Yes. The state permits betting on college sports on Colorado’s online sports wagering platforms. Colorado bettors can wager on in-state teams like the Colorado Buffaloes, as well as any in-state college athletic contests.

Colorado Legal Sports Gambling Betting

The only restriction on college sports betting in Colorado is a ban on prop betting. Betters can only make prop bets on professional sports events.

No. Colorado’s legal online sportsbooks are open for registration from anywhere within state borders. Most of these platforms are available as mobile apps for iOS and Android devices, as well as on desktop.

Visiting the parent casino of an online sportsbook is an option for opening an account, but isn’t necessary.

By last Thursday, Rep. Alec Garnett was exhausted. But who could blame him?

A primary sponsor of a bill to legalize Colorado sports betting, he anxiously awaited the results of the public vote. For hours, Proposition DD swayed between passage and failure, rarely with either side getting more than a few percentage points away from the other. At times, even, the prop sat squarely on the fence at a 50-50 split.

But by Thursday, two days after voting returns began pouring in and a day after the count concluded, Garnett and every other proponent for and supporter of regulated wagering in the Centennial State could finally breathe a sigh of relief. With the public voting in favor of passing Proposition DD – by less than 2.5 percentage points – legalized sports betting is now on its way to Colorado.

Ideally, the first retail and online sportsbooks will hit the Rocky Mountains by May 1, 2020. As Garnett pointed out, since the Taxpayer Bill of Rights (TABOR)–a constitutional amendment requiring such a bill to be subject to public voting–went into effect in 1992, only two other proposed taxes have passed. Now, a third has made it across the finish line.

“It’s a great success story,” said Garnett, the House Majority Leader, noting how the bill to simply get to through the legislature and to a public vote “was quite an exercise in bipartisanship and stakeholder relationships.”

The countdown begins for Colorado sports betting

Initially, Garnett recalled, he desired for Colorado to have a regulatory framework in place by the new year. Of course, now, that seems like a pie-in-the-sky timeline.

Instead, the bill targets May 2020 for the state to be ready to flip the switch on legalized wagering. Theoretically, 33 casinos in the state can apply for licensing, though Garnett anticipates that total to be more like “between nine and 12.”

Regardless, whichever properties apply will be authorized to operate one land-based sportsbook or one online sportsbook or both. And by May 1, when the Colorado Rockies visit the Philadelphia Phillies, and potentially during a deep NBA playoffs run by the Denver Nuggets, Colorado sports betting could be up and running.

“The licensing will all depend on when casinos decide to come forward,” Garnett said, noting that the upside is the Colorado Division of Gaming, which already monitors the casinos, has a pre-existing relationship with the properties. “I’m sure that won’t take very long. The relationship that will take time to vet will be online operators.”

Colorado a “model of both sides” coming together

It should come as no shock that legal sportsbooks across the country have expressed excitement about Colorado voters legalizing sports betting.

Among them: Two established companies that have thrived in New Jersey and displayed signs of aggressive expansion.

Legal Sports Gambling In Colorado

One is FanDuel Sportsbook, which has opened up retail and/or online operations in New Jersey, New York, Pennsylvania, West Virginia, Iowa, and Indiana.

And FanDuel, an emerging leader in the nascent industry, has praised Colorado – and appears to have it in its crosshairs as an entry point.

“I travel the country and work on the effort to decriminalize sports betting in other states,” said Stacie Stern, manager of government affairs for FanDuel Group. “Colorado was really the model of both sides (of the political aisle) coming together in a common-sense way and not only pass legislation of sports betting but taking the next step to say, ‘Where will the revenue go and what’s important in our state.'”

Said revenue – a 10% tax on operators – will go toward the state’s water management plan as well as toward problem gambling.

Online sportsbooks excited for Colorado sports betting launch

While FanDuel has not partnered with an existing Colorado casino just yet, other operators such as PointsBet, Smarkets, Wynn and BetAmerica sure have. PointsBet partnered with Double Eagle Casino & Hotel, while the other three teamed with Full House Resorts. And all are eager to get things cooking in Colorado.

Colorado Legal Sports Gambling Laws

“It’s great news that the people of Colorado have legalized sports betting, and we can’t wait to bring our sportsbook platform, SBK, to the Centennial State in 2020 through our partnership with Full House Resorts,” said Smarkets founder and CEO Jason Trost, whose company partnered with Full House in September, just a few days before BetAmerica did and a month before Wynn.

“As more and more states adopt sports betting legislation, the industry will be brought further into the light and regulated in a more professional manner, compared with the previous status quo of offshore bookmakers dominating the market.”

While FanDuel has not established a partnership with a land-based casino in the state, thus allowing the brand to enter the online market, it certainly showed an interest in Colorado – at the very least.

Through October, FanDuel was the largest contributor to the campaign to legalize sports betting. And as Stern put it, such a contribution was to both support state regulation and open up an avenue for FanDuel.

“The opportunity to open up new states and bring our sportsbook product to new states is what we’re looking for across the board,” Stern said. “We were definitely supportive.”

Legalization a big step for state and industry

PointsBet already had its eyes on the Denver area. They targeted the city as a burgeoning market of tech talent. As such, roughly two months ago, the sportsbook began locating a western headquarters in the Colorado capital.

Over the summer, though, PointsBet set up an inside track to entering the state market with a partnership via the Double Eagle Casino & Hotel.

“It’s probably as big as it gets for us,” Ron Shell, PointsBet US vice president of customer and insights, said of the proposition passage. “The most obvious reason is we have access to Colorado and offer our best-in-class product to a big state. On top of that, it allows us to push forward with our strategy of becoming the local great sportsbook in Colorado.”

The same can be said about FanDuel. And certainly Smarkets and Wynn. Legal sports betting is on its way. But that is not the biggest story of Proposition DD’s success. Not to Garnett.

“The one thing I believe will go down in the legacy of DD is the water investment,” Garnett said. “For the first time, investing dedicated revenue toward the water plan … is maybe the greatest accomplishment of the entire campaign. If we wait and we’re not preemptive in our approach to conserve water, when our population doubles (in the future), we’ll be in a bad spot. … I really do think that will be the greatest legacy of DD.”

Legal Sports Betting In Colorado

So when does CO sports betting start?

While voters gave the OK for casinos to offer legal wagering, some waiting still remains.

Colorado already has its gaming division to regulate sports betting, but a regulatory framework still needs to be crafted. Casinos and internet operators still need to apply for licensing and get vetted. Sportsbooks still need to undergo testing.

For the public, May 2020 certainly seems like a distant date. For operators, to quote Stern: “May 1 will come sooner than you think.”

After all, FanDuel, according to Stern, has “already hit the ground running looking at next year.” While the group has not landed a casino partner in Colorado, Stern said FanDuel has been “working hard behind the scenes.”

“But now that the referendum has passed,” she added, “I think you’ll see some movement on the part of FanDuel.”

Colorado Legal Sports Gambling

Shell noted that PointsBet can now “fast-forward” its plan a bit. Already with an online sportsbook in New Jersey, and working toward doing the same in Iowa and Indiana, PointsBet would have only one app. It would use geolocation technology to determine which state’s odds you would see. Essentially, Shell said, PointsBet’s preparation now is mostly just tech.

“But to be honest with you,” he added, “we started that a while ago. So we’re ready to hit the ground running.”

Colorado Legal Sports Gambling Addiction

While Nov. 5 (and Nov. 6, really) will be a landmark time in Colorado history, lawmakers have yet to celebrate, according to Garnett. There is still plenty more work to get done. But Garnett certainly does not overlook the significance of it all.

“The accomplishment is that those who are close to all this know how robust the black market is,” he said, “and how confident we are in the regulatory structure. … Tuesday night will be a night I will never forget.”