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Sports betting in Colorado

Legal sports betting in Colorado came to fruition in November of 2019 and online and retail betting went live in May 2020. Online sports betting was officially deemed legal when Governor Jared Polis signed HB 1327 into law. Sports betting has taken off quickly in the Centennial State and as of May 2022 there are 26 online sportsbooks available. 

In this in depth article we will show you all the important information about legal sports betting in Colorado. Just a few of the things we will touch on is the legal aspects of sports betting, the online sportsbooks available in CO, a timeline of events, tax issues, and what you can and cannot bet on. On top of those things we will also walk you through how to start Colorado online sports betting. 

All legal sports betting options in Colorado  

The legal situation on Colorado sports betting

In May of 2018 the Supreme Court overturned the Professional and Amateur Sports Protection Act and made sports betting legal on a state-by-state basis. A year and a half  later in November  2019, online and retail sports betting was legalized when Governor Jared Polis signed HB 1327 into law. Both online and retail sports betting launched at the same time in May of 2020. 

There are over 30 land-based casinos in Colorado and the sportsbooks must be partnered with them. There is still some room for growth but many of the top online bookies entered the Colorado market and since launch taxes from online gambling have been just over $17.7 million. 

In the Centennial State there is a 10% tax on sports betting revenue. According to the law there are three different types of licenses, which are: 

  • Master License – For the states land-based casinos 
  • Sports Betting Operator – Retail sportsbooks 
  • Internet Sports Betting Operator – each of the land based casinos can have one skin (online sportsbook). 

Every land-based casino in the state can apply for one master license. At first there is a nonrefundable $10,000 initial fee and then they must pay $125,000 in the next two years. If a casino is approved for a master license they can form a partnership with an online as well as retail sportsbook and, often, they will use the same partner for both aspects. 

The sports betting in the state is overseen by the Colorado Limited Gaming Control Commission and the Colorado Division of Gaming. 

🛑 What you can’t bet on from online sportsbooks in Colorado 

Colorado is one of the states that has legal sports betting and allows for bets to be made on in-state colleges and collegiate games that are held within the state. There are many bets available for the bigger universities such as Colorado and Colorado State. However, proposition betting is not allowed for college games. Here are the restrictions on what you cannot bet on in the Centennial State: 

  • Entertainment bets such as for the Emmys and Oscars 
  • Political bets such as the U.S. presidential election 
  • eSports events 
  • Events where a participant is less than 18 years of age 
  • College proposition bets 

🟢 What you can bet on from online sportsbooks in Colorado  

  • NCAA Football, NCAA Basketball, NCAA Baseball 
  • Major Domestic Leagues, including NFL, NBA, NHL, MLS, MLB, MMA, UFC, etc. 
  • Major International Leagues, including England Premier League, Italy Serie A, Spain La Liga, etc. 
  • Major sports events, including NBA playoffs and finals, Stanley Cup, Super Bowl, World Series, World Cup, The Masters, Olympics, etc.
  • Most betting types, including spreads, moneylines, totals (over/under), parlays, futures, proposition bets (pro sports no college props), and live bets. 

What is the tax situation in Colorado  

Colorado has one of the lower tax rates for sports betting at 10%. This is one of the reasons that there are so many online sportsbooks currently available in the state. The 10% tax is for online and retail sports wagers. Most of the taxes on online sports betting goes to the Water Plan Implementation Cash Fund in order to pay for various water projects under Colorado’s Water Plan. In the first year of sports betting in Colorado the state collected $6.6 million in taxes. 

All the available sportsbooks in Colorado    

  • Bally Bet
  • Barstool Sportsbook
  • Betfred Sports
  • BetMGM
  • BetMonarch
  • BetRivers
  • Betway
  • BetWildwood (ISI)
  • Caesars Sports
  • Circa Sports
  • DraftKings Sportsbook
  • Elite Sportsbook
  • FanDuel Sportsbook
  • FOX Bet
  • MaximBet
  • Play Maverick Sports
  • PlayUp
  • PointsBet
  • SBK
  • SI Sportsbook
  • Sky Ute Sportsbook
  • SuperBook
  • TheScore Bet
  • Tipico Sportsbook
  • TwinSpires Sportsbook
  • WynnBET

Forecasts about the future of online gambling in Colorado    

The future is bright for sports betting in Colorado. You can see this simply by the number of bets being made and how much it increased from the previous year. In March the handle increased 68.8% over the previous year and in February it increased 65.3% over the previous year. Not only has sports betting thrived in the state but there are rumblings that Colorado is looking to legalize online casino gambling in the near future. 

Not only are there a lot of choices for Colorado bettors for online sportsbooks there are also quite a few retail sportsbooks at the land based casinos. Here are those locations:

  • Ameristar Casino Black Hawk
  • BetWildwood (ISI)
  • Billy’s Casino
  • Colorado Grande
  • Golden Mardi Gras Casino
  • Grand Z Casino
  • Isle of Capri Casino
  • Johnny Nolon’s
  • Johnny Z’s Casino
  • Lady Luck Casino
  • Monarch Casino Blackhawk
  • Red Dolly Casino
  • Saratoga Casino
  • Sasquatch Casino
  • The Lodge Casino at Black Hawk
  • Wild Card Casino
  • Z Casino

Timeline of main events in Colorado   

  • March 2022 – BetSafe latest sportsbook to launch 
  • May 2020 – Retail and online sports betting launches
  • May 2020 – BetMGM, BetRivers, FanDuel, and DraftKings first sportsbooks to go live 
  • November 2019 – Retail and online sports betting legalized 
  • May 2018 – The Supreme Court overturns Professional and Amateur Sports Protection Act (PASPA), which made sports betting legal on a state-by-state basis. 
  • 2016 – Colorado legalizes Daily Fantasy Sports 
  • 2008 – State passes Initiative 50, which makes it legal for 24/7 casino gaming in the locales of Central City, Cripple Creek, and Black Hawk 

How do I start betting online in Colorado    

It is a very quick and easy process to begin betting online in Colorado. The first thing you need to do is pick one of the 26 licensed online sportsbooks currently available in the state. You must be 21 years old to set up an account. Once you set up an account the sportsbook will have to verify who you say you are. In the verification process you will have to give the sportsbook information such as: 

  • Full name
  • Birthday 
  • Social Security Number 
  • Personal verification information 

Once the identification process is complete you can add funds to your account and start to bet on your favorite sports.

Who regulates the legal online sports betting in Colorado?

The Colorado Limited Gaming Control Commission and the Colorado Division of Gaming regulates sports betting, both online and retail.

Are the odds the same while betting in Colorado as in any other state?

Yes. When there are multiple states that have the same sportsbook brand, such as FOXBet, DraftKings, and BetMGM the odds will be exactly the same between the states. For different sportsbooks between states the odds may be a little different, but not by much at all.

What are the differences between sports betting in Colorado compared to any other state?

One of the things that differs between Colorado and other states is that in Colorado you can bet on college teams in the state and all college games held there but you cannot make college proposition bets. Another thing that is different is that players in Colorado have more of a choice than other states considering there are currently 26 online sportsbooks to choose from. Colorado is one of the states that does not allow for eSports wagering.

Is sports betting legal in Colorado?

Yes. Sports betting was legalized in Colorado in November 2019 when Governor Jared Polis signed HB 1327 into law. Retail and online sports betting went live in May 2020.

How old do you need to be for online sports betting in Colorado?

You must be 21 years old to gamble on sports in Colorado.

Where can you bet online in Colorado?

If you are of legal age you can bet at any of the 26 licensed online sportsbooks in Colorado.

Do I need to be a resident of Colorado to bet at Colorado sportsbooks?

No. While you must be physically located in the state to wager at online Colorado sportsbooks you do not have to be a resident of the state.

Can I access my Colorado sportsbook account in other states?

Yes. You can access the Colorado sportsbook you wager at in other states and make deposits and withdrawals, check out odds, and contact customer service you will not be able to make a wager outside CO state lines.