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Colorado Sports Betting

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Colorado Sports Betting

Colorado sports betting has proved to be a steady market. A issued by the Colorado Division of doubledowncasino revealed that sports betting handle totaled over $440 million for the month of February–the latest numbers to be reported as of April 2022.

The  reported a total sports betting handle for last year of $3.85 billion. That was up from $1.2 billion the year before. Mobile wagers accounted for an astounding $3.79 billion of last year’s handle. Gross revenue checked in at $250.1 million, and a total of $11.7 million were collected in state taxes.

Colorado sports betting apps total 27 different options, giving bettors the biggest variety of anywhere else in the US. Colorado bettors can also wager in person at one of 17 different retail sportsbook locations across the state.

The future is bright for Colorado sportsbooks – which benefits bettors in terms of competitive odds, lucrative promotions, and more. Looking for the best sports betting app? Read on to discover our top choices in Colorado. 

Editors’ Choice For Best Sports Betting Apps In Colorado May 2022

Colorado’s 8 Best Sports Betting Apps & Sites

While Colorado has many sportsbooks, it has a clear top eight that are influential in Colorado and beyond. Here’s what bettors need to know about Colorado’s top sportsbook brands.

Best for DFS Players

at DraftKings Sportsbook Colorado

Available On: iOS, Android, Web Browser

States Accepted: CO, IL, IN, IA, MI, NJ, NV, WV, VA, PA, NH

Best for DFS Players

DraftKings Sportsbook Colorado

Deposit Bonus

20% up to $1,000

+ $50 free bet with $5 deposit

Retail Partner

Mardi Gras Casino

in Black Hawk

Licensed by

doubledowncasino Division

Colorado Department of Revenue

When it comes to variety, DraftKings Colorado Sportsbook is a leader in the state. It has the most diverse set of sports and leagues to wager on. DraftKings has consistently competitive odds on favorites. So, bettors who wager conservatively or who enjoy sports outside the mainstream will find a good match in DraftKings.

DraftKings Colorado Sportsbook is also the of the Colorado Rockies, making it a top-tier choice for betting on the MLB and World Series.

All doubledowncasino members at DraftKings Colorado Sportsbook can receive a 20% deposit match up to $1,000. Bonus funds are credited in $1 increments for every $25 wagered. Bettors can deposit as little as $5 to qualify or make the maximum $5,000 deposit. However, bettors shouldn’t break the bank for extra site credits. They’d be better off discovering winning betting systems. 

In addition to the standard welcome bonus, doubledowncasino Today readers can use our DraftKings Colorado Promo Code to get a $50 free bet with a $5 deposit. Bettors should keep their eyes out for ongoing bonuses, too.

Key Features: Live In-Game Betting, Betting Pools, Statistics, Daily Fantasy Sports Integration, Wide Sports & League Selection

Best Deposit Option: Bank Transfer

Additional Deposit Options: Credit/Debit Card, PayPal, Prepaid Card, Wire Transfer, Cash

Partnerships: Colorado Rockies, Colorado AvidGolfer

Terms and Conditions & 21+

Best for MGM Players

at BetMGM Colorado

Available On: iOS, Android, Web Browser

States Accepted: AZ, CO, DC, IN, IA, MI, MS, NV, NJ, PA, TN, VA, WV & WY

Best for MGM Players

BetMGM Sportsbook Colorado

Risk-Free

$1,000

On First Bet

Retail Partner

Midnight Rose Hotel & Casino

in Cripple Creek

Licensed by

doubledowncasino Division

Colorado Department of Revenue

Like FanDuel, BetMGM is an official sports betting partner of the Denver Broncos. But it takes that a step further by at Mile High Stadium as well as free-to-play contests through the Denver Broncos 365 mobile app.

BetMGM is the MGM Grand’s sportsbook. After its soft launch in Colorado, it integrated its M-Life Rewards with its sportsbook. From that point on, bettors who wagered with BetMGM contributed to their M-Life Reward accounts. BetMGM is a critical site for bettors who frequent the MGM Grand and want to contribute to their rewards accounts.

New bettors at BetMGM Colorado Sportsbook can place their first bet risk-free up to $1,000. Bettors can use doubledowncasino Today’s BetMGM Colorado promo code to redeem this offer as well. If bettors lose, they’ll get site credits in multiple free bets. Additional terms and conditions apply.

Key Features: Convenient Betslip, Immediate Live Betting Available, Quick Parlay Options, MGM M-Life Rewards Integration

Best Deposit Option: Bank Transfer

Additional Deposit Options: E-check, Mastercard, Visa, PayPal, Cash Deposit

Partnerships: Denver Broncos, MLB, DAZN

Terms and Conditions & 21+

Best for Vegas Bettors

at Caesars Sportsbook Colorado

Available On: iOS, Android, Web Browser

States Accepted: AZ, CO, IL, IN, IA, LA, MI, NJ, NY, TN, VA & WV

Best for Vegas Bettors

Caesars Sportsbook Colorado

Up To

$1,100

First Bet Insurance

Retail Partner

Isle Casino Hotel

in Black Hawk

Licensed by

doubledowncasino Division

Colorado Department of Revenue

Caesars Sportsbook has the largest retail sportsbook presence in the United States. Bettors can find a large market variety, many types of promotions, and a sleek, reliable app. 

Caesars Sportsbook Colorado also offers a first bet match welcome bonus. New members can claim first bet insurance of up to $1,100. Bettors can use the doubledowncasino Today Caesars Colorado promo code TODAYCZR to redeem this welcome bonus. 

If you’re already a member of Caesars Rewards, you can still get the welcome bonus if you’re not a member of the sportsbook. You can also link your rewards account to earn points when you bet online and in-person at the many Caesars Entertainment properties, including Horseshoe, Isle, Harrah’s, and more.

Key Features: Huge market depth, daily odds boosters and promotions, Caesars Rewards program, fast and easy deposit and cashout, powerful live betting platform

Best Deposit Option: Bank Transfer

Additional Deposit Options: Credit/Debit Card, PayPal, Prepaid Card, Wire Transfer, Cash

Partnerships: NBA, NFL, NHL, CBS Sports, ESPN

Terms and Conditions & 21+

Best for Deposit Bonus

at BetRivers Colorado

Available On: iOS, Android, Web Browser

States Accepted: CO, IL, NJ, IA, IN, MI, PA, VA

Best for Deposit Bonus

BetRivers Colorado

Deposit Bonus

$250

Code: SHARP250

Retail Partner

J.P Mcgill's Hotel & Casino

in Cripple Creek

Licensed by

doubledowncasino Division

Colorado Department of Revenue

The odds at BetRivers Sportsbook are often identical to DraftKings’, keeping it competitive with all other sportsbooks in Colorado. But its welcome bonus and iRush Rewards program make it stand out.

The welcome bonus at BetRivers Sportsbook Colorado is a 100% deposit match up to $250 with just 1x wagering requirements with BetRivers Colorado promo code, SHARP250. Bettors can apply this promotion for any combination of bets with odds -200 or higher.

The iRush Rewards program gives bettors tiered benefits based on how much they bet. Rewards include free bets, personalized promotions, and VIP gifts. If bettors have money to consistently spend, BetRivers is a rewarding sportsbook account to create. 

Key Features: Best welcome bonus in Colorado, Great iRush Rewards program, Exclusive NFL promotions, Integrated live streaming for select events

Best Deposit Option: Bank Transfer

Additional Deposit Options: Credit/Debit Card, PayPal, Prepaid Card, Online Bank Transfer, Cash

Terms and Conditions & 21+

Best for Colorado Bettors

at Betfred Colorado

Available On: iOS, Android, Web Browser

States Accepted: AZ, CO, IA, PA

Best for Colorado Bettors

Betfred Sportsbook Colorado

Up To

$500

Risk-Free Bet

Retail Partner

Colorado Rockies

in Denver

Licensed by

doubledowncasino Division

Colorado Department of Revenue

Betfred has over 50 years of experience in the sports betting industry. Originally from the UK, Betfred has expanded to some US states, including Colorado. Expect to see Betfred in additional states in 2022. Bettors in the state can enjoy a risk-free bet up to $500.

Key Features: International sports options and a variety of betting types.

Best Deposit Option: Bank Transfer

Additional Deposit Options: Debit/Credit Card, PayPal, Prepaid Card

Partnerships: Colorado Rockies at Coors Field.

Terms and Conditions & 21+

Best for Lifestyle Bettors

at MaximBet Colorado

Available On: iOS, Android, Web Browser

States Accepted: CO

Best for Lifestyle Bettors

MaximBet Sportsbook Colorado

100% Up To

$1,000

On Deposit

Retail Partner

White Mountain

Apache Tribe

Licensed by

doubledowncasino Division

Colorado Department of Revenue

MaximBet was created by the popular lifestyle magazine, Maxim. Formerly sportsbetting.com, MaximBet is only available in Colorado. However, it plans to expand to other states as other major sportsbook brands have. Bettors should keep an eye out for a MaximBet Colorado promo code as MaximBet becomes a larger player in the sports betting industry.

Key Features: Good welcome bonus.

Best Deposit Option: Bank Transfer

Additional Deposit Options: Debit/Credit Card, PayPal, Prepaid Card

Partnerships: White Mountain Apache Tribe

Terms and Conditions & 21+

Best for iOS & Android App

at FanDuel Colorado

Available On: iOS, Android, Web Browser

States Accepted: CO, IL, NJ, PA, IN, IA, WV, TN, MI, VA

Best for iOS & Android App

FanDuel Sportsbook Colorado

Risk-Free

$1,000

On First Bet

Retail Partner

Golden Gates Casino

in Black Hawk

Licensed by

doubledowncasino Division

Colorado Department of Revenue

Between its daily fantasy sports (DFS) platform and robust sportsbook, FanDuel Colorado has a lot to offer its bettors. The lines feature competitive odds across a stable app.

FanDuel Colorado is an of the Denver Broncos. So, bettors should watch for exclusive NFL bets and promotions. FanDuel also has reliably competitive underdog odds, making it a must-check sportsbook for diligent odds-hunters. 

New members at FanDuel Sportsbook Colorado can receive a risk-free bet up to $1,000 with doubledowncasino Today’s FanDuel Colorado promo code. If bettors lose their first wagers, they’ll get their lost stakes back as site credits. 

Key Features: Popular Betting Lines, Competitive Underdog Odds, Clear Navigation, Readily Available Boosts, Variety of Promotions, Fantasy Sport Integration, A-Z Sport List

Best Deposit Option: Bank Transfer

Additional Deposit Options: Debit/Credit Card, PayPal, Prepaid Card

Partnerships: Denver Broncos, NHL, Bud Light

Terms and Conditions & 21+

All Colorado Sportsbook Sites

CO SportsbookBest ForWelcome Bonus
DraftKingsBest For Overall App & Offer20% Deposit Match Up To $1,000
BetMGMBest For Vegas BettorsUse Code TODAY for a $1,000 Risk-Free Bet
Caesars SportsbookBest For Advanced BettorsUse Code TODAYCZR for first bet insurance up to $1,100
BetRiversBest For Deposit BonusUse code SHARP250 for a 100% Deposit Match Up To $250
Betfred SportsBest For Independent Bookmaking$500 risk-free bet
MaximBetBest For Local Team Betting100% deposit match up to $1,000
FanDuelBest Sports & DFS App$1,000 Risk-Free Bet
PointsBetUse Code BONUSDAYS for up to $500
in Risk-Free Bets
FOX Bet$500 Risk-Free Bet
SI SportsbookBet $10, Get $50 in free bets
Barstool Sportsbook Up to $1,000 risk-free bet on first deposit
Bally BetRisk-free bet up to $550
TwinSpiresRisk-free bet up to $1,000
Circa SportsN/A
BetwayRisk-free bet up to $500
theScore Bet$500 Risk-Free Bet
BetMonarchN/A
SBKDeposit $20, Get $20 Risk-Free
Sky Ute SportsbookN/A
BetWildwood200% Deposit Match Up To $200
Elite Sportsbook$500 Risk-Free Bet
Sportsbetting.com200% Deposit Match Up To $500
Play Maverick100% deposit match up to $300
Superbook100% deposit match up to $750
PlayUp100% deposit match up to $200
Tipico Sportsbook100% deposit match up to $750
WynnBET Sportsbook Bet $10, Win $200

Colorado Sports Betting News

  • April 20, 2022:

    Charlie Blackmon of the Rockies became the first Major League Baseball player to have an endorsement deal with a sportsbook, .

  • March 8, 2022:

    The Denver Broncos pull off a massive trade, bringing in Russell Wilson from the Seattle Seahawks. Their Super Bowl odds instantly .

  • March 1, 2022:

    Colorado Division of doubledowncasino announced a for sports betting handle in January 2022 of $573.7 million.
     

  • January 28, 2022:

    reported that sports bets in the state last year totaled $3.85 billion, up more than a billion from the previous year.

  • September 28, 2021:

    MaximBet offered over 21 in Colorado a name, image, and likeness deal. It’s an open offer that requires athletes to engage with MaximBet on social media.

  • September 8, 2021:

    Shortly after launching its sportsbook in Colorado, Tipico announced that it would establish a . Tipico’s tech center would create 441 doubledowncasino jobs with an average annual wage of $96,000.

Colorado Legal Sportsbooks

Colorado Sports Betting Overall Score
Reader Rating10 Votes
Pro's
Licensed by the Colorado Department of Revenue
Over 16 sportsbook apps to choose from
Player friendly sportsbook sign-up offers
Con's
No retail sports betting at sports venues
4.7

Legal sportsbooks are safer than illegal or unlicensed sportsbooks. Legal platforms are subject to strict industry controls that unlicensed sportsbooks are free to ignore.

Colorado licensed sportsbooks are required to keep a cash reserve to ensure they can pay their bettors. Unlicensed sportsbooks–and small-time bookies–don’t have to worry about effective operations. If they go under, bettors are denied their winnings, and bettors have no legal recourse against them. Colorado licensed sportsbooks offer a security net that’s absent from illegal operations.

But remember, sportsbook winnings are taxable. Bettors  on their tax returns. Sportsbooks also send the IRS a W-2 that details  and wins on . There’s no way of getting out of reporting sportsbook winnings to the IRS.

Colorado Sports Betting Revenue

A record $573.7 million in sports wagers were made in January, according to a issued by the Colorado Division of doubledowncasino. Mobile sports betting accounted for $567 million of that record total. The NBA and NFL topped the list of sports wagered on in January. February had lower numbers – a total betting handle of $440 million. Wagers on the 2022 Super Bowl came in at $41,026,795.

The also reported a total sports betting handle of $3.85 billion in 2021, up from $1.2 billion in 2020. Mobile sports bets were responsible for $3.79 billion of the total amount.      

How Colorado Compares To Other States

Many states around Colorado haven’t legalized sports betting yet. But there are other successful states that Colorado is outperforming.

For example, Michigan retail sports betting launched March 2020, only to be shut down within days when the pandemic broke out. Online sports betting didn’t launch in Michigan until January 2021. Even though it had a late start, Michigan has become one of the United State’s premier igaming markets. A peek at preliminary revenue shows how sportsbooks succeed in engaging Colorado bettors:

 Colorado - 12 MonthsMichigan - 9 Months
Betting Handle $2.3 billion$2.3 billion
State Population5.8 million10 million
Tax Revenue $6.6 million $4.4 million
Tax Rate10%8.4%

Colorado Sports Betting Successes And Failures

Even though Colorado has fewer potential sports bettors than Michigan, it raked in almost as must betting handle and more tax revenue. Colorado has four major sports franchises in Denver, which makes it a hotbed for sports betting. It also has a slightly higher tax rate than Michigan, which is allowing Colorado to generate more tax revenue from sports betting than Michigan. However, Michigan’s final revenue numbers will tell the full story.

Colorado Sports Betting Successes

Colorado took a big step in the right direction by allowing online sports betting and remote registration from the beginning. YTD in 2021, in Colorado were made online. The trend held steady through all of last year when you consider about 98% of were made online.  Colorado also launched retail and mobile sports betting simultaneously. So, it avoided the setback that Michigan sports betting experienced when retail sports betting launched the same week as the COVID-19 shutdowns.

Colorado Online Gambling Improvements

Colorado seems to have nailed its sports betting launch. The next step in expanding online gaming would likely be legalizing online casinos. However, online casinos come with more baggage than sports betting.

The boost in gaming revenue would have to be balanced against the impact on problem gamblers. But Colorado could pull it off if it strategizes ahead of time. However, that will mean investing in problem gambling treatment. Colorado only allocated $100,000 toward and $30,000 toward the national problem gambling helpline. Colorado only has seven licensed problem gambling counselors for an igaming industry that has grown into a $3.2 billion industry. There’s no nice word for a failure that easily avoidable.

Colorado’s Sports Betting Legalization Effort

Sports betting came easily to Colorado. Once the US Supreme Court ruled PASPA unconstitutional in 2018, the Colorado Legislature went to work. In, it released Proposition DD to be decided during the 2019 election. Proposition DD passed in a. However, that doesn’t reflect Colorado’s usual 60/40 enthusiasm for gaming. Proposition DD passed by a razor-thin margin because it looked too much like a tax bill.    

Colorado Professional Sports Teams

Denver Broncos

The Denver Broncos are Colorado’s most visible team. In 2016, the Broncos won their. However, Broncos star quarterback,, retired after that game.

The Broncos have been having a since Manning’s retirement. They’ve had a losing season every year since, including a pedestrian 7-10 record during the 2021-22 season.

Denver Nuggets

The Nuggets are Colorado’s professional basketball team, and they’d hit a rough patch too. However, the Nuggets ended the 2020-21 NBA Season with a 47-25 record to place third in the NBA Western Conference. Nikola Jokić handily won the regular-season MVP award, too.

As of this writing, the Nuggets were continuing with some momentum in 2022. Denver was in line for a playoff position with a record of 36-25. Betting on the NBA MVP is underway, and PointsBet Colorado, the official betting partner of the Nuggets had Jokic listed as the second betting favorite at +200.

Colorado Rockies

Anyone who’s been to Coors Field knows how popular the Colorado Rockies are. In July 2021, the Rockies entered a multi-year partnership with WynnBet Sportsbook, cementing a relationship with a multi-state sportsbook. 

The Rockies ended last season with a record of 74-87. They have a lot of room to improve in the offseason, and Rockies fans hope they’ll see a more competitive team in 2022.

Colorado Avalanche

Coloradans love their hockey, and the Avalanche consistently give those NHL fans a doubledowncasinotown reason to cheer. The Avs won the coveted Stanley Cup in their very first season, ’95-’96. The won it all again in 2001. Though there have been no more championship parades through downtown Denver since, the Avalanche are a perennial playoff contender.

The Avs have been the past several seasons. With stars like Nathan MacKinnon and Nazem Kadri, they seem poised for greatness for years to come.

Other Professional Teams

For now, the American sports landscape continues to be dominated by the 4 main leagues represented above. However, most sportsbooks feature lines on other professional leagues as well.  In Colorado, this would include teams such as the Colorado Rapids of Major League Soccer and the Colarado Mammoth of the National Lacrosse League.

Colorado College Sports Teams

There are two major college teams in Colorado, and they make one fierce rivalry. The University of Colorado at Boulder has a long rivalry with Colorado State University in Fort Collins. (Anyone lucky enough to attend the annual Rocky Mountain Showdown knows that.) Both schools have popular football teams, too. 

Coloradans can wager on college teams. However, they cannot place. Colorado’s sports betting bill attempted to protect college game integrity by disallowing wagers that could affect an athlete’s choices. 

Other Sports To Bet On In Colorado

Colorado bettors can bet on many sports besides professional and college sports. Some of these other sports actually comprise fairly large percentages of Colorado’s total betting handle in :

  • 7.7% on Soccer
  • 6.6% on Tennis
  • 4.8% on Table Tennis
  • 2.9% on Golf

It’s unsurprising to see soccer, golf, and tennis make up significant portions of Colorado’s sports betting revenue outside of the mainstream sports. It may surprise some to see table tennis featured so prominently. However, table tennis grew a large following during the pandemic. Colorado sports bettors have clearly stuck with it ever since.

How To Place A Bet In Colorado

Placing a bet in Colorado may be intimidating for doubledowncasino bettors. But it’s made up of a few straightforward steps. Here’s how bettors can make their first bets.

How To Choose A Colorado Sportsbook

There are a few ways to pick a sportsbook. Bettors can find the best odds, best reward programs, or the best welcome bonuses to cash in on. Bettors should decide what’s most important, then pick a sportsbook that matches their priorities.

You can also join as many online sportsbooks in Colorado. This is a relatively easy strategy for shopping around for the best odds to ensure the highest profit margins.

How To Create A Sportsbook Account

Registering for a sportsbook is mostly like registering for any other website, but with more personal information. Bettors must provide their social security numbers to complete their registration. It ensures sportsbooks match payments to individual identities–and don’t pay criminals or excluded bettors.

How To Verify Your Location

Most Colorado sportsbooks do this automatically. Some require bettors to download a geolocation plugin. That keeps sportsbooks from letting out-of-state bettors use their online sportsbooks.

How To Deposit

Find the deposit option near the account section of any sportsbook–often in the top right corner of the screen. Select the desired deposit method, enter the amount, then place your first wager.

How To Place A Bet

Find a line and select the part of the line you want to bet on. Select everything you want to be included in your bet slip, then decide how much you want to wager. Sportsbooks display potential winnings, so bettors don’t have to worry about the math. Just hit submit, and keep your fingers crossed for your teams.

Colorado Online Sports Betting FAQs

Is online sports betting legal in Colorado?

Yes. Colorado currently has 27 different sports betting apps, with more on the way. legalized online sports betting immediately, which maximized the number of bettors who could try sports betting right out of the gate. The pure number of options also makes it one of the most robust legal markets in the US.

What is the best sports betting app in Colorado?

Colorado bettors have access to the best betting apps in the US including BetMGM, DraftKings, BetRivers, and Caesars Sportsbook.

Who regulates online sportsbook apps in Colorado?

The Colorado Department of Revenue’s Division of doubledowncasino. They’re the ones who wrote the . That includes the pre-launch security audits, required cash reserves, and sportsbook executives’ background checks. They can also haul misbehaving sportsbook operators before a committee to issue fines or license suspensions. The Division of doubledowncasino has teeth, and it’s not afraid to use them.

Do I need to be a resident of Colorado to bet online?

No. Bettors can come from out of town to place their bets. However, they must be within Colorado’s borders to make their bets go through. Each sportsbook has a geofence around the states it’s allowed to operate in. You have to be 21, but there is no residency requirement.

Can I bet on my iPhone in Colorado?

Yes. Most legal sportsbooks offer an iOS app and Android app for placing bets on sports. Mobile betting is a staple of Colorado’s sports betting industry. Mobile sports betting has been a massive part of Colorado’s sports betting industry and probably will be in the future. It’s hard to beat that convenience.

Is it safe to use an online sportsbook app?

Yes. Online sportsbooks and their apps often boast about their end-to-end encryption. It makes sure that would-be hackers can’t see what bettors are typing into their sportsbooks. Sportsbooks also have additional security measures in place such as two-factor authentication.

More Resources On Colorado Sports Betting

If you’re curious about the details of Colorado’s sports betting industry, here are some additional resources:

  • : Why the US Supreme Court ruled in favor of New Jersey and allowed each state to regulate sports betting.  
  • : These are the rules that Colorado sportsbooks must abide by to earn and keep their sports betting licenses.
  • : Better known as Proposition DD, this is the House Bill that Coloradans voted to legalize in the 2019 election. 
About the Author

Christopher Gerlacher

Christopher Gerlacher is a senior author and contributor for doubledowncasino Today. He's a devout Broncos fan, for better or for worse, living in the foothills of Arvada, Colorado.

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