Colorado Sports Betting: Top 9 Sportsbooks Available

In May 2018, the Supreme Court ruled that PASPA undermined states’ rights, and was thus unconstitutional. This allowed New Jersey to establish legal sports betting and flung open the door for other states to do the same. As of early 2022, nearly thirty states have jumped at the opportunity – few more enthusiastically than Colorado!

Our Colorado sports betting guide looks at which sportsbooks are available to bettors, how to open accounts and place bets along with a detailed look into the story of Colorado sports betting. 

Colorado Sports Betting: Where Can I Bet? 

Voters in the Centennial State approved legalized sports betting in November 2019. Since May 2020, individuals of legal age (21 for sports betting, 18 for daily fantasy sports) and physically inside Colorado’s state lines, have been able to legally place sports wagers, online or in-person, via authorized and regulated sportsbooks. That is, of course, provided you’re not a so-called “principal actor” – player, referee, coach, etc. – in a sport, and thus cannot bet on your own sport.

If you meet these criteria, as of March 2022, you can place a wager via any of 26 online sports betting apps active in Colorado. Here are our picks for the best Colorado sportsbooks: 

Caesars Sportsbook Colorado: 

• Excellent loyalty incentives such as event-specific odds boosts
• Very generous referral bonuses ($100, plus $50 in free bets for the person you referred)
• Breezy signup and banking process

FanDuel Sportsbook Colorado: 

• Extensive variety of betting markets and products such as Same Game Parlays
• Wide range of payment options including Venmo
• Outstanding mobile app - one of the best in the industry on both iOS (4.7/5.0) and Android (4.8/5.0)

PointsBet Sportsbook Colorado: 

• Greater focus on "non-major U.S. leagues” than most sportsbooks
• Unique PointsBetting wagering, in which winnings and losses are based on how “right” or “wrong” the bettor is, relative to the original line
• Clean and easy-to-use interface on mobile apps, with solid ratings on both iOS (4.7/5.0) and Android (4.4/5.0)

SBK Sportsbook Colorado: 

• Generally best priced on Moneyline for US sports
• Offers a social platform, on which you can share betting tips, attach bets you've placed, follow other players’ tips and recent betting form
• Mobile app (SBK is mobile-only), which has a clean and easy-to-navigate/use interface, rates very well on iOS (4.4/5.0) (Android rating is 3.5/5.0)

BarStool Sportsbook Colorado: 

• Great for beginners and casual bettors
• Generous welcome offer (risk-free bet up to $1,000)
• Easy to sign up and deposit/withdraw funds
• Excellent iOS app (4.8/5.0 on Apple’s app store; Android app: 3.6/5.0)

BetMGM Sportsbook Colorado: 

• Backed by one of the top brands in gaming
• Among best in class for sign-up (risk-free bet up to $1,000, with a playthrough requirement of just 1x), deposit, and withdrawal
• Top-tier international wagering selection
• Live stream select games from major U.S. and international leagues
• Excellent iOS app (iPhone app: 4.8/5.0; Android: 4.2/5.0)

BetRivers Sportsbook Colorado: 

• Excellent welcome offer (first deposit match, up to $500, with a playthrough requirement of just 1x)
• The expansive selection of sports and wager types, including same-game parlays
• Very competitive vig/juice on points spreads and totals
• Mobile app ratings: Apple/iOS, 3.2/5.0; Android, 3.1/5.0

DraftKings Sportsbook Colorado: 

• Outstanding mobile app - one of the best in the industry on both iOS (4.7/5.0) and Android (4.8/5.0)
• Widely regarded as having one of the most intuitively designed and easy-to-navigate mobile apps
• Extremely competitive pricing on NHL hockey lines
• Welcome bonus of $50 free bet on any deposit of at least $5, and a 20% deposit match, up to $1,000 (5x playthrough requirement)

FoxBet Sportsbook Colorado: 

• Live game visualizations, provide a solid alternative to streaming
• Visually pleasing and easy to use interface and betting features, with solid ratings for both iOS (4.5/5.0) and Android (4.2/5.0) apps
• Live streams from betting personalities, like the BS Report’s Cousin Sal, on FOX BET LIVE
• Welcome bonus: $500 risk-free bet

Retail Location

If you find yourself in the towns of Black Hawk, Central City, or Cripple Creek (in all honesty, you probably won’t - 98.8% of January’s handle was wagered online), any of the 17 physical (non-tribal) sportsbooks located in the state.

When did Sports Betting Become Legal in Colorado? 

October 1992: George H.W. Bush signed into law the Professional and Amateur Sports Protection Act (PASPA) – also known as the “Bradley Act”, as its greatest champion was New Jersey Senator and former New York Knick Bill Bradley – which was aimed explicitly at curbing sports betting in the United States.

January 1993: The only legal ways to bet on sports in the U.S. were to get yourself to Nevada, wager in very specific ways in Oregon, Delaware or Montana, or take up jai alai or horse or dog racing. In 2014, New Jersey repealed a law banning sports gambling. All of the major leagues and the NCAA successfully filed suit, claiming a violation of PASPA.

May 2018: The Supreme Court ruled that PASPA undermined states’ rights, and was thus unconstitutional. This allowed New Jersey to establish legal sports betting and flung open the door for other states to do the same. As of early 2022, nearly thirty states have jumped at the opportunity – few more enthusiastically than Colorado!

November 2019: Voters in Colorado vote to pass Proposition DD, supporting the authorization and a levy of 10% tax for those operating in the state. Although a fine margin with only 51.41% voting in favor… 

May 2020: Colorado sports betting goes live with major US sportsbooks opening their online sportsbooks to users in the state; In the 21 months for which we have data, bettors have wagered nearly $6 billion on sports.

September 2020: Of course, the NFL and the NBA have attracted action, but Coloradans are embracing the full complement of sports betting options.

May 2022: A total of $356,842,203.20 was wagered in May 2022, taking the total handle for Colorado to over $7 Billion - Becoming the seventh state to reach this landmark.

Opening a Sports Betting Account in Colorado 

Getting started at a Colorado online sportsbook is easy. All you’ve got to do is register for an account with the sportsbook(s) of your choice, make your initial deposit, and start surveying the lines!

Be aware that a sportsbook may require additional documentation before allowing you to withdraw funds. Also, note that, if you’re verifying a bank account that’s held by more than one person, you’ll likely need to provide an ID from everyone listed on the account.

We’re big advocates for signing up to multiple sportsbooks to take full advantage of these offers, you can read more about individual bonuses here. 

Colorado Sportsbook Payment Methods: 

You’ll have plenty of options when it comes to payments, the leading operators tend to use the following methods:

• Bank Wire Transfer: Bank wire transfers are still one of the most secure ways to deposit and withdraw funds from online sportsbook accounts. However, they are also much slower for funds to be processed and cleared than newer payment methods.
• Debit Card: Debit cards are also a simple way to manage your online sportsbook funds, with instant deposits, and funds are withdrawn quicker than a wire transfer.
• Apple Pay: iPhone owners can also use their Apple Pay accounts to deposit funds into online sportsbooks, although withdrawals are not often supported.
• Google Pay: It’s a similar case for Android mobile owners, with Google Pay the fastest payment method for those betting on sports with their smartphone or tablet. Like Apple Pay, withdrawals are not often supported.
• eWallets: eWallets like PayPal, Skrill, and Neteller have changed the game for online sports bettors. Customers can deposit funds from bank accounts into their eWallets, making it easier to set betting budgets. eWallet withdrawals are also processed much faster than conventional methods.

Colorado Sports Betting Promotions

With so many promotions available, it can be tricky to understand what you actually stand to get. We’ve done an in-depth guide into sportsbook bonuses previously, so here are the basics:

Matched Deposit Bonuses: 

These will trigger upon your initial deposit and are a commitment to match your initial deposit, typically up to a certain value. 

Free Bets: 

A good incentive for new players, providing a wager to players to test the waters. The credit will be added to your account and then you’re free to bet with this as you please. 

Risk-Free Bets: 

Upon depositing or placing a wager, you’ll receive the free bets as a refund on your initial stake. These tend to be of a similar value, hence the low risk… 

Popular Sports to Bet on in Colorado

Unsurprisingly, the NFL is the top dog, having attracted some $717.8 million of action during the 2021 season – double the 2020’s mark. One shudders to think what will happen if the Denver Broncos ever find themselves a quarterback!

In January 2022, however, the NBA was king, pulling in $163.6 million worth of wagers. That NBA basketball is popular among Coloradans isn’t a big surprise, for reasons both macro – the NBA is the second-most popular U.S. sports league – and micro – the Denver Nuggets are a young, entertaining team, and led by the NBA’s reigning MVP, Nikola Jokic.

The NFL was next, with $144 million, though this is a function of January having just two slates of regular-season games, followed by 12 playoff games, but _not _the Super Bowl.

Rounding out the list of most-bet-on sports: college basketball ($63.1 million), ice hockey ($24.7 million; +70% month-over-month, thanks surely to the Colorado Avalanche sitting atop the NHL), tennis ($20 million); college football ($16 million; this is essentially only the national championship game), soccer ($14.7 million) and, yep, table tennis ($7.6 million).

With plenty of action available, the menu consists of a full complement of college and pro games in just about any sport, including football, basketball, baseball, hockey, soccer (domestic and European), motorsports, boxing, mixed martial arts, tennis, horse racing, rugby, cricket, and table tennis. That’s right, table tennis. With your permission, a quick aside…

What Else Can you Bet on? 

You see, when legal sports betting in the state started on May 1, 2020, the NFL and college football were in the offseasons, and Major League Baseball, the NBA, and the NHL were all shut down due to COVID-19. In the absence of American sports, bettors in Colorado who, at LONG last, could legally wager on sports, sought out sports that they could bet on. Enter table tennis.

There are loads of matches every day, starting about every 15 minutes, with fast-moving lines and relatively frequent wins by big underdogs and, all of a sudden, Coloradans were invested in table tennis!

Never mind that the average bettor doesn’t know the actual rules of competitive table tennis. Or that the matches take place in Russia or Belarus. Or that they’re next to impossible to watch live…

Think about it. It’s mid-2020, you’re working from home – or maybe not working at all – with nowhere to go, and your entertainment options are severely reduced… why not enjoy some obscure gaming action from Russia with your morning coffee?

That first month, table tennis was the most bet-on sport in Colorado, attracting some $6.6 million in wagers - MMA was a distant second, at $1.7 million. It made for absurd headlines that would surely become relics of a truly bizarre time. HOWEVER…

Unlike, say, Tiger King, the fascination endured. Table tennis is now a part of the landscape. From May through the end of 2020, table tennis betting handle of $63.5 million was topped only by football, baseball, and basketball. To this day, with all other major sports long since back and plenty of time for the novelty to have worn off, table tennis remains a top-ten most-bet-on sport in Colorado.

How has Revenue Grown since Legalization? 

As noted above, Colorado sports betting launched in May 2020. The COVID-19 pandemic hampered the early days of in-person wagering, but Colorado online sports betting hit the ground running and hasn’t looked back! By the end of 2020, 15 online sportsbooks were active in the state. By the end of 2021, there were 26.

Through its first 21 months, Colorado sports betting has generated an incredible betting handle (total dollar value of wagers placed, win or lose; not to be confused with revenue or “hold”, which is the sportsbooks’ “winnings”) of over $5.6 billion. As of the end of January 2022 - the most recent month for which we have data - Colorado trailed only Nevada, New York, New Jersey, Pennsylvania, and Illinois in terms of sports betting handle. In January 2022, Coloradans laid down $573.7 million worth of sports bets. That figure was:

• Up 24.3% from December 2021
• Up 75.5% from January 2021
• A new state record, up 16.7% over the previous mark, was set in October 2021.

Conclusion 

There’s our full look into Colorado sports betting. Hopefully, we’ve helped you identify the best sportsbooks available along with bonuses to get the most from your bankroll. Check out our odds comparison tool - The Index to help you find the best value across the top sportsbooks.