Welcome to Colorado-betting.com, your one-stop-shop for everything related online betting in Colorado. Our expert writers and researchers constantly scour the betting scene in the state and report our in-depth and accurate findings to you.
Now seen as one of the biggest betting states outside of the “Big Five,” it’s clear that the online sports betting Colorado offers is up there with the very best. To help you get betting in the Centennial State, here’s everything that you need to know.
Where Can You Run Your Sports Betting in Colorado?
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What Sports Can You Bet on?
With representatives in all the major leagues, the Centennial State needs a wide selection of markets to bet on. Sportsbooks recognized this fact. So, they offer deep markets on just about every sport that you can imagine. The big ones like hockey, football, baseball, soccer, and basketball are all covered from major leagues to international competitions. You’ll also find odds on lacrosse, golf, rugby, boxing, mixed martial arts, college sports, tennis, Aussie rules football, and much more. The only thing that you can’t do is place prop bets on college games.
Teams to Bet on
As you’d expect, the most popular teams to bet on in Colorado are the state’s major league competitors. With them competing in the biggest sport in the US, naturally, the Denver Broncos attract the most online sports betting Colorado has to offer. The NFL franchise partnered with BetMGM in June 2021.
Just as Colorado online sports betting was becoming a reality, the Colorado Avalanche transformed into contenders. So, a lot of early betting action was on the emerging Stanley Cup challengers. In August 2020, PointsBet became the official gaming partner of the NHL team.
Like the Avs, the Denver Nuggets were also a team on the rise when Colorado sports betting came into play. The NBA franchise also partnered with PointsBet. Over in the MLB, the Colorado Rockies partnered with WynnBet. In the MLS, it was Tipico that Colorado Rapids chose as its betting partner.
Popular Types of Bets in the State
You can find many bets available anywhere in the world in online sports betting Colorado. The only exception is prop bets in college sports. Here are the bet types you can find and what they mean:
- Moneyline: bet either team to win or a tie.
- Spread: bet on teams to win with a handicap applied.
- Over/Under: bet on one of two options for there to be under or over of something to occur.
- Parlays: combine your bets into one slip for better odds.
- Props: bet on an outcome within a game or competition that doesn’t rely on the final result.
- Futures: bet on the final winners or top placers of a competition.
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Timeline of Online Sports Betting in the State
As with all legalized states for wagering, Colorado online sports betting could only come into force following the May 14, 2018, repeal of the Professional and Amateur Sports Provision Act 1992 (PASPA). After this Supreme Court ruling, Colorado could legalize sports betting. However, the state took a more gradual and measured approach to trailblazers like Delaware and New Jersey.
It took until 2019 for Representative Alec Garnett to produce a bill. Although, the House majority leader’s bill only just made it through the Colorado General Assembly. This close call was to be followed by another. Before coming into law, residents of Colorado had to vote on the bill. As we know now, the online sports betting Colorado bill passed. Still, it was only by around 20,000 votes.
In May 2020, some two years after PASPA’s repeal, Colorado sports betting commenced. Both Colorado online sports betting and retail sports betting are legal in the state.
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Betting Law in Colorado
Aside from knowing what you can legally stake on, it’s imperative that you understand the laws for players as well. To legally play casino games, you need to be in a physical casino in one of the mountain towns that allows them.
You can play bingo in bingo halls or in casinos that host the games. You can’t play these games online. The same can be said for poker. Colorado online gambling only includes sports betting and daily fantasy sports.
You can legally stake on sports in person or online, and daily fantasy sports are included in that legislation. To partake in any of the activities that are legal in the state, you must be of age. For casinos and sports betting, you need to be over 21. For bingo, poker, horse racing, and lottery, the age is 18. To bet on sports online, you must be a resident of the state.
Who Offers Sports Betting in the State?
At the time of writing, there are 25 licensed online sportsbooks in Colorado. There are also 17 licensed retail sportsbooks. Each online casino is tied to a “Master” land-based casino. Here are all of the online sportsbooks and their partnerships:
- Bally Bet (Golden Gulch Casino)
- Barstool (Ameristar Casino)
- Betfred (Saratoga Casino)
- BetMGM (Midnight Rose Hotel and Casino)
- BetRivers (J.P. McGill’s Hotel and Casino)
- Betway (Famous Bonanza Casino)
- BetWildwood (Wildwood Casino)
- Circa Sports (Century Casino Cripple Creek)
- DraftKings (Golden Mardi Gras)
- Elite Sportsbook (Red Dolly Casino)
- FanDuel (Golden Gates Casino)
- MaximBet (Johnny Nolon’s)
- Monarch Casino Blackhawk (Monarch Casino Blackhawk)
- Play Maverick Sports (Grand Z Casino)
- PlayUp (Bull Durham Casino)
- PointsBet (Double Eagle Casino)
- Poker Stars Sport (Lady Luck Casino)
- SBK (Sir William Casino)
- SI Sportsbook 888 (Colorado Grande)
- Superbook (Lodge Casino)
- TheScore Bet (The Gilpin Hotel)
- TwinSpires Sports (Billy’s Casino)
- William Hill (Isle of Capri)
- WynnBet (Bronco Billy’s)
Each of the above online casino brands has been licensed to operate in Colorado. As such, the Colorado Limited Gaming Control Commission regulates them.
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Gambling Revenues and Statistics
Ever since the state legalized sports betting in 2020, the revenue has steadily risen. Some months are much better than others, however, and this can be attributed to the sporting events that attract more wagers than others.
When sports betting was first legalized in the state in May 2020, it only earned $2.57 million in revenue. The first five months were slow, with the $7.52 million in August being the best take. By October, the industry was thriving. Sports betting brought in more than $17 million each month for the final three months of the year and got off to a great start in January 2021 with a total of $23.14 million.
For the whole of last year, revenue from sports betting only dipped below $15 million in one month. The highest recorded total was $36.78 million in November. The total tax revenue since the beginning of 2020 is $14.665 million, which is a healthy return so far. The figures suggest that the industry is only going to continue growing in the next few years. Colorado is already seen as one of the strongest markets outside traditional betting-friendly states.
The most popular sport to put your wagers in Colorado is NBA betting, and it accounts for more than 30 percent of all betting handle most months. This increased to around 35 percent during the NBA playoffs in June 2021.
The main sports teams that attract bets in Colorado are the Denver Broncos in the NFL, the Colorado Rockies in the MLB, the Denver Nuggets in the NBA, and Colorado Avalanche in the NHL. All betting in the state is regulated by the Colorado Division of Gaming.
Taxes and Other Important Information
When you bet on sports in Colorado you will be required by the Colorado gambling laws to notify the IRS if you receive winnings over $600. The tax rate on mobile and retail winnings is 10 percent, which is reasonable when compared to certain other states. For instance, there’s a 20 percent tax in Nebraska and 15 percent in Maryland.
If you need to pay tax on any winnings, the sportsbook is obliged to provide you with the necessary forms and alert you. It’s wise to keep track of any tax that you may need to pay. If you don’t, you may get in trouble and could even have your betting accounts restricted.
Is sports betting legal in Colorado?
Do I have to be in Colorado to bet on sports?
Can I bet on sports without an ID?
Is Colorado the best place in the country for online betting?
Do sportsbooks report winnings to the IRS?