Colorado Online Sports Betting

Colorado sports bettors, your state has officially joined the growing group of jurisdictions with legal sports betting.

Legal sports betting was made available on Friday, May 1, 2020 with DraftKings Sportsbook, FanDuel Sportsbook, BetMGM and BetRivers kicking things off.  Since then BetMonarch, FoxBet, SBK Sportsbook, Sky Ute Sportsbook and Betfred have launched. As of July 1, Circa Sports announced it’s now live in the state. That brings the total to 10 in Colorado. Expect to see more apps launch in the days and weeks ahead now that casinos have reopened.

As much fun as the betting action can be on its own, it can greatly enhance your enjoyment of your favorite sports as well. Having money on the line can get you even more into Colorado Avalanche, Colorado Rapids, Colorado Rockies, Denver Broncos and Denver Nuggets games. There’s nothing like when your favorite teams win and you win some cash right along with them.

Colorado Sports Betting is Live

Colorado sports bettors are to thank Proposition DD for this change in law, as wagering became legal after a critical referendum passed in Nov. 2019.

Even if you aren’t a CO resident, however, you can still get in on the action. Colorado residents and visitors will have two main avenues for sports betting:

• The referendum legalized online sports betting in Colorado. Each of Colorado’s casinos will have the opportunity to offer a mobile betting app.
• Dozens of casinos are in Colorado, and each will be able to apply for a master license.

PlayColorado is here to cover all the latest Colorado sports betting news, including which operators will be in the state, when they will launch, and what kind of online betting apps and bets they will offer.

What we know about Colorado sports betting

Legal sports betting in the state of Colorado began on May 1, 2020. That is when a state-imposed moratorium on wagering expired.

The Colorado Limited Gaming Control Commission had one final meeting before launch on April 30, 2020 and approved 31 licenses, from manufacturer/distributor licenses to master and vendor licenses.

There is still much to be hammered out regarding this new world. But people in Colorado over the age of 21 can legally bet on sports at retail sportsbooks in addition to Colorado betting apps.

The Colorado Limited Gaming Control Commission is in charge of issuing licenses to prospective sportsbooks. Unlike some states, where the lottery oversees sports betting, Colorado will offer bettors dozens of sportsbook options in the coming weeks and months.

Partnerships formed

Retail casinos in the state have been partnering with online sportsbooks ahead of the launch, as we’ve seen Double Eagle Hotel & Casino pair with PointsBet, and Saratoga Casino Black Hawk team up with Betfred – just to name a couple.

Meanwhile, the two giants of legal online sports betting in the US so far – FanDuel and DraftKings – are set to start right out of the gate. FanDuel and DraftKings have partnered with Twin River, which suddenly has a strong foothold in The Centennial State. Twin River purchased the Mardi Gras, Golden Gates and Golden Gulch casinos in Black Hawk earlier this year.

Which sportsbooks have been granted licenses?

All of Colorado’s commercial casinos are eligible to apply for a master license under the new law. The master license is active for two years and will allow the holder to offer both retail and online sports betting.

Colorado’s casinos are confined to three towns nestled in the Rocky Mountains. Black Hawk, Century City and Cripple Creek are located about an hour west of Denver and offer a unique throwback aesthetic to the casinos of the Old West.

The following online sportsbooks and casinos have been granted sports wagering licenses by the CLGCC so far.

One of the two tribal casinos in the southwestern portion of Colorado, Sky Ute Casino, is now live with its sportsbook. There’s no update on when Ute Mountain Casino will launch its sportsbook to Colorado sports bettors.

Options abound

The CLGCC recently finalized 41 pages worth of sports betting rules, in addition to approving an initial batch of betting licenses.

The markets you can access in CO represent a great array of variety, including straight bets and futures markets, for your favorite sports. Because of the spring launch, everything should be fine-tuned in time for the next college football and NFL seasons.

All told, Colorado sports bettors have a plethora of wagering options right out of the gate with numerous online options opening.

Many of these sportsbooks will also offer prop bets in addition to traditional sports betting. According to Colorado’s gaming rules, however, sportsbooks cannot take wagers on NCAA events that do not directly lead to the outcome of contests.

The state’s Gaming Enforcement Division will keep a master list of eligible prop bets and will update the catalog regularly. If you’re of legal age and within the state’s borders, you can play.

Sports betting brands and launch dates in Colorado

Several of the biggest and best-known sport betting brands announced partnerships with casinos ahead of the May 1 launch. The list below shows the partnerships which are already known.

FanDuel: This popular DFS site has transformed into a full sports betting powerhouse in other regulated states. A partnership has been announced with three casinos owned by the Twin Rivers Group in Black Hawk. FanDuel’s online sportsbook went live on May 1.

DraftKings: Like FanDuel, this site started in Daily Fantasy Sports. They are part of the same deal, with Golden Gate, Golden Gulch and Mardi Gras casinos in Black Hawk, all possible sites for their retail sportsbook. DraftKings also went live in Colorado on May 1.

BetMGM: BetMGM went live in Colorado on May 1. It is partnered with the Midnight Rose Hotel & Casino in Cripple Creek. Their online sportsbook is also currently live in New Jersey, West Virginia, Nevada and Indiana.

BetRivers: BetRivers is partnered with J.P. McGill’s Hotel and Casino in Cripple Creek and launched online on May 1. Their online offering has been highly successful in other states under the Rush Street Interactive umbrella. It has online sportsbooks in Pennsylvania, Indiana, Illinois, Michigan and Iowa, in addition to Colorado.

PointsBet: This sportsbook is huge in their native Australia – and are already active in other regulated states. They are partnering with the Double Eagle Casino to bring mobile sports betting to Colorado. Pointsbet has a unique way to bet in addition to the regular singles and parlays. This is called ‘Pointsbetting’ and involves betting units of your stake per point / goal difference in the spreads.

Bet America: This is one of three brands which will work with Full House Resorts, owners of Bronco Billy’s Casino in Cripple Creek. Bet America has been running an online racebook in Colorado. It has transitioned into full sports betting in several states already. New bettors at Bet America will get a generous $100 refund (in betting credits) if their first bet loses.

theScore: This media brand has announced its intention to develop sports betting apps to go alongside their website in multiple states. They have partnered with Jacobs Entertainment in Colorado. This is a local company, which owns multiple casinos. Their flagship property is the Lodge Casino in Black Hawk. They also own the smaller Gilpin Casino.

BetFred: Another international betting brand which has a big presence in the UK, Ireland and around the world. BetFred offers casino and poker games online in those jurisdictions, though will be focusing on sports betting in Colorado. They have announced a partnership with the Saratoga Casino, Black Hawk. This is owned by same company behind the famous Saratoga Springs racetrack in New York state.

Barstool Bets: Penn National, owners of many casino properties around the country, recently bought a big stake in media brand Barstool Sports. They are developing a sports betting app – with a 3Q 2020 target for launch. Penn National manages the Ameristar Casino in Black Hawk, making this the likely candidate for a live sportsbook and online betting license.

Caesars Sports: While there are no Caesars branded hotels or casinos in Colorado, it looks like their sports betting brand has a way into the Centennial state. A corporate merger with Eldorado Resorts is underway. Eldorado owns both the Isle and Lady Luck Casinos in Black Hawk. No announcement has been made, though one of these (physically linked) casinos could be the right spot for a Caesars sportsbook.

Other Sports Betting Brands Expected in Colorado

There are a lot of major brands competing for business as different states legalize gambling. Here are some of the biggest which are active in Pennsylvania, Iowa, New Jersey and elsewhere. Many of these will be opening both online and retail sportsbooks in Colorado.

• • FOX Bet
  • Bet365
  • 888 Sport
  • Wynn Resorts
  • Smarkets
  • William Hill

How to bet online with a Colorado sports betting app

Betting via your mobile device has a lot of advantages. You can access the full range of bets, the cashier and the latest promos via sportsbook apps.

You can also enjoy live betting. This is also called in-game wagering because the sportsbooks set the markets upon events that take place within games.

Mobile sportsbook apps have geo-location technology built in. Since you can’t legally bet if you are outside of state lines, this is important. Some brands can include this geo-location technology in their websites, allowing these to be accessed via smartphones.

The best way to install the sports betting apps while making sure you take full advantage of the bonus deals and new player promotions is to visit the online sportsbook via your mobile device. The sportsbooks will also keep you advised of future promotions using the email you register with.

The sportsbooks will then detect which type of device (Android or iPhone / iPad) you are using – and offer you the right download. Note that Android apps need to be downloaded direct from the sportsbook sites. This is safe and secure – though you’ll need to allow downloads from an ‘unknown source’ on many Android devices.

After downloading the app, it will be easy.

No matter which of Colorado’s casinos offers online sports betting, the process for getting started will be virtually identical. The top right corner of the app will have a phrase such as “Join Now,” “Sign Up” or something similar to indicate where to begin.

Once clicked, the button will lead to a page with several empty spaces. You will need to fill these areas with the following information:

• Name
• Email address
• Phone number
• Physical address
• Date of birth
• Social Security number
• Password

Depending on the particular site, you may also need to designate a username. Also, you may have to choose one or two security questions and provide the answers for them.

Some people may wonder why a sportsbook needs your Social Security number. This is for tax purposes and simplifies the process tremendously for you in that regard.

After you’re registered, you will need to make a deposit. This is the money you will use to make your wagers and is often the way you can qualify for special promotions.

Please note that many online sportsbooks will offer bonuses and promotions to new players. Be sure to check this page for the latest deals, because hundreds of dollars could be available for newcomers.

Placing a Bet at an Online Sportsbook

There are three steps involved in placing a bet. The design of each sports betting app and website will vary, though the common process means they only differ in minor ways. Here is what you’ll need to do:

• Find the match(es) you’d like to bet on
• Find the bet(s) you’d like to place and add them to your betting slip
• Organize them into singles / parlays on your bet slip, then add the amount to bet

You’ll see the different sports and leagues you can bet on – and the types of bet you can place – below. First a general overview of how each of these steps work.

Finding Your Match: Betting sites list the major leagues at the top of their left-side column (menu for apps). These are often topped with live betting on the matches currently underway. Soccer or a major golf event might also appear here. Under this list you’ll find a full list of sports available. This will change the middle / main view to your sport. Navigation buttons or links will then let you drill through the conferences / divisions and offer college games in a separate tab. You can always enter the name of your team into the search bar to speed things up.

Finding Your Bet: As a default, you’ll see the moneyline, spread and totals (under / over) betting lines for each match. These are the most popular types of single match bet. There will be an arrow or ‘more bets’ link, which shows you a list of props, period bets and any special bets for your sport. When you locate the bet you want, click or tap on it to add it to your betting slip. You won’t yet have placed the bet and can continue adding more wagers before you finalize this.

Your Betting Slip: The wagers you select will move here and wait for you to complete them. If you wanted to place a multiple team bet like a parlay or round robin, you’ll be able to link bets together. You can remove any you don’t want easily. To complete the wager, you need to add the amount to bet and click a place or confirm button.

Once your bets are placed, you’ll be able to access them – seeing the results for any matches that you missed.

What sports can I bet in Colorado?

Some states limit their residents and visitors in terms of what sports are available for wagering. Others allow a virtual free-for-all; it depends on what each law says.

The only ubiquitous restriction is on high school sporting events and youth leagues. Every state has some sort of prohibition on wagering for amateur matches involving minors.

Colorado isn’t any different in this regard, with an explicit rule against high school wagering as part of the new law. Unlike many other states, Colorado’s laws and regulations do not prohibit betting on esports. That could turn into a great way the CO market sets itself apart.

Needless to say, Colorado sports bettors will have plenty of options for wagering when sports betting launches.

Here are some of the sports offerings that will be available:

• Baseball (MLB)
• Basketball (NBA and NCAAB)
• Boxing
• Football (NFL and NCAAF)
• Golf
• Hockey
• Mixed martial arts
• Motorsports
• Soccer (MLS, EPL, and others)
• Tennis

There will also be some options for sports that are less well-known in the US. Australian rules football, cricket, darts, and rugby union are all staples of most sportsbooks, even in the US.

Colorado sports betting basics

Speaking of things less well-known, sports betting itself may be a bit of a mystery to inhabitants of the Centennial State. Until recently, Nevada was the only location nearby that could offer wagering on sporting events.

Like most things, characteristic lingo circulates through sports betting — most of these words or phrases about the various bets.

So, here is a handy guide to demystifying all the different terminology that Coloradans may find in their state soon.

Point spreads

One of the most common sports bets is the point spread. In simplest terms, a spread bet is a wager on the estimated margin of victory for a particular contest.

The sportsbook, using data and analysis, will establish the margin of victory that it expects a game to have. The margin, or spread, will specifically identify the expected winner or loser of the game.

A negative margin means that a team is favored to win, and a positive margin sets a team as the underdog.

Bettors wager on how accurate they believe the estimated margin to be. A wager on the favorite means the bettor expects the team to win by more than the spread. If the team does so, it has “beat” the spread.

Conversely, a wager on the underdog is a bet that either the team will lose by fewer points than the spread, or will win the game outright. A team that accomplishes either task is said to have “covered” the spread.

The point spread is sometimes referred to as the “line” for a game. However, don’t confuse this reference with the next common type of wager.

Moneylines

A moneyline bet is a standard sports bet that can seem confusing at first. After all, it is denoted by the three-digit number next to each team’s name. However, the meaning of that number seems opaque.

At its core, a moneyline bet is more straightforward than almost any other type of wager. It is a bet on which team the bettor believes will win outright.

The margin of the game is irrelevant in determining the winner of this wager. In fact, any developments throughout the game, like injuries or penalties, are not a part of the discussion. The only thing that matters is the outcome when the clock hits zero.

The three-digit numbers come into play as the payouts associated with successful wagers on a team to win. The denotation yields a simple proportion that bettors can use to determine both the appeal and likelihood of the payout.

A positive number next to a team’s name indicates that the team is the underdog in the contest. Therefore, the given number is the payout for a $100 wager on that team to win.

Conversely, a negative number next to a team’s name establishes the team as the favorite to win. The negative number is, instead, the amount that a bettor must wager to win $100.

Bear in mind that the payout figure does not include the amount of the bet, of course. Any winning wager would receive the initial outlay back, too. So, a $100 wager on a team at +200 would receive $300 back (the $200 payout, plus the $100 wager amount).

Totals

If the outcome of a game seems unclear, other types of bets have nothing to do with which team will win. The most common type of bet in this category is the totals bet.

Totals bets are wagers about how many points the teams will combine to score in a particular game. The source of those points, which team does the bulk of the scoring, is not a concern.

Instead, a sportsbook will establish an estimated combined output for a game. This estimate, the over/under, has come to function as a more common name for this type of bet in the general public.

As its name implies, players bet on whether they believe the total will be over or under the established mark. In most cases, the sportsbook will make the estimate a decimal to ensure that the over/under won’t tie the actual outcome.

Futures

Futures bets are wagers on events that rely upon the outcomes of multiple contests. In other words, they pertain to end-of-season results, like eventual champions and award winners.

Futures bets are often calculated with moneyline-type payouts. However, these payouts are sometimes translated into straight odds, thanks to the proportions inherent in moneylines. In other words, an event at +10,000 can also be expressed as a 100-1 underdog.

However, given the sheer amount of variables involved with futures bets, winning bets of this type are sometimes newsworthy. Any time a story pops up about a player who correctly selected the eventual champion and received a huge payout, the journalists are describing a futures bet.

Propositions

Proposition bets, or prop bets, are an umbrella term to describe most other wagers that don’t fall into one of the categories above. Any type of wager on an event that does not directly affect the outcome of a match is likely a prop bet.

So, bets about how many points a player will score or how many passes a quarterback will complete is a proposition wager. Alternatively, a wager about the result of a coin-toss or the clock time that a period will end would also qualify as a prop.

Propositions are the most common type of wager in all of sports betting. However, this distinction is because a subset of wagers are considered prop bets.

Live betting

Specifically, that subset of wagers is the group of bets known as live betting. This type of bet is also known as in-game wagering, but the two terms are relatively interchangeable.

Live bets are wagers on games after they have already begun. Because they are not direct indicators of a game’s outcome, they are considered prop bets.

Live betting options tend to fall under three types.

The first type is the most obvious; the sportsbook merely continues to offer spread, moneyline and totals bets.

The only difference is that the sportsbook’s estimate changes dynamically according to the flow of the game. So, the initial estimate of how a game would go can often be proven quite inaccurate.

The second type of live betting relates to milestones that either a player or team may accomplish during the game. These milestones can be specific to the individual game, season or career.

Finally, live betting options can also pose opportunities for partial game results. A player may be able to wager on which team will “win” a particular period of play, or perhaps, what the teams’ combined score at that time will be.

Live betting is far more common on online and mobile sports betting apps. The technology is required to adjust to game changes quickly and accurately.

Because of the technology involved, live betting can also be extremely granular in nature. Some sportsbooks can offer wagers on individual plays or moments of a game.

Live betting is so popular because it benefits both the sportsbook and the player.

The increased flexibility means that a single game can offer hundreds of wagers during its normal gameplay. As a result, more money is available, both to win and to capture.

Parlays

Finally, sportsbooks in Colorado are likely to offer parlays to bettors because they are cash cows for the books.

A parlay is a combination of wagers that places multiple choices on games into the same wager. They are a method for betting on many games at the same time.

Each of these selections, or “legs,” must be correct for the parlay to pay out; otherwise, the bet is a loser.

Needless to say, there is a higher degree of difficulty in winning a parlay wager than a series of straight bets. As the number of legs increases, the challenge to pay out escalates exponentially.

The reason that parlays remain popular is that the increasing risks come with increasing rewards. Payouts for successful parlays can be quite high.

So, bettors will use parlays as a method to lever smaller wagers into outsized payouts. A parlay bet of less than $100 can turn into hundreds of thousands of dollars with a sufficient number of legs.

Obviously, such an outcome is quite unlikely. However, the chance at big money is what keeps parlay bettors coming back.

Parlay variants

Sportsbooks may also offer one or more options on the traditional parlay wager. These variants include teasers, pleasers and round robins.

A teaser bet is a standard parlay, but the sportsbook tweaks the aggregate odds of the wager in the player’s favor. So, it’s easier for a teaser bettor to win, but the sportsbook compensates by lowering the payout potential.

The converse of the teaser is the pleaser bet. This less-common variant steeps the odds in favor of the sportsbook but raises the payout amount versus a straight parlay. In other words, the pleaser exists for gamblers who want a chance at a big payout.

Finally, a round robin is the next exponent for parlays. Where parlays are combinations of single wagers, round robins are combinations of parlays.

What is excellent about round robin bets are they don’t require a player to get all decisions correct to pay out. Even if one parlay in the combination fails, the other combinations that don’t involve that parlay will remain active.

Online Only Betting

Mobile sportsbook apps mean new forms of betting are possible. There are three new types of bet to enjoy online:

• In-Play Betting / Live Betting: Placing bets on matches which are already underway is hugely popular in other states. These wagers use special feeds, which update the odds for moneyline, totals and spread wagers in real time. You can bet at any point while watching the game.
• Cash Out Betting: This is also called early redemption betting. Some sportsbooks allow you to cash out of a wager at any point. If your team is losing this might only be for a few bucks, while winning wagers can be cashed to lock in profits.
• Points betting: This format is only available at Pointsbet Colorado. It is similar to betting the totals. You’ll stake one unit on each point under or over the total given by Pointsbet. If the result is on your side of the total, you can win multiple times your stake.

Banking for Colorado online sports betting

After signing up, the next stage is to fund your account. You will need to visit the sportsbooks cashier page to process a deposit.

Similar to our caveat for signing up, make sure you use the links or bonus codes on this page. Sportsbooks often save their most robust bonuses for new depositors, and we often have exclusive deals.

Sportsbooks try to be as flexible as possible when it comes to depositing. Therefore, there is usually a wide range of options for moving money in and out of your account.

Standard deposit options at online sportsbooks include:

• Cash at the casino cage
• Credit cards
• Debit cards
• Electronic checks (ACH/VIP Preferred)
• Electronic wallets (PayPal/Skrill)
• Online bank transfers
• PayNearMe
• Prepaid cards
• Wire transfers

Withdrawing from the account tends to be slightly more challenging. Quite simply, payment processors tend to send money in a single direction.

So, standard withdrawal options tend to be limited to fewer choices. Common withdrawal methods at sportsbooks are:

• Cash at the casino cage
• Check by mail
• Electronic check
• Electronic wallet
• Prepaid card
• Wire transfers

The exact methods available will vary from sportsbook to sportsbook. However, above all else, remember that the sportsbook wants your business. So, if you’re having difficulty with either depositing or withdrawing, make sure to use one of the customer support options.

Where does the tax revenue go?

A 10% sports betting tax will be collected throughout the year and that money will go to the state of Colorado’s water conservation plan.

Proposition DD narrowly passed with a 50.73% yes vote in November 2019.

Colorado was allowed to put Proposition DD on a ballot following the US Supreme Court’s ruling in May 2018 that legalizing sports betting is now in the hands of individual states.