Best.online Casino Colorado

If money grew on trees, the entire country would probably move to enjoy the lush vegetation Colorado has to offer. While this isn’t a reality, the ability to make money gambling online in Colorado is real! In fact, real money casino action is alive and well at the

Monarch Casino Resort Spa plans to open its own retail sportsbook by fall, while DraftKings expects to open a retail sportsbook at one of its partner casinos in the near future. The Colorado casinos and racetracks which may offer land-based sportsbooks in the near future: Black Hawk. Ameristar Casino Black Hawk; Bull Durham Saloon and Casino.

best Colorado online casinos. Here’s an up-to-date list of the top Colorado online casino sites currently available to you.
RankOnline CasinoKey InfoBonus InfoVisit Casino
#1
  • Excellent Payout Speeds
  • 280% Welcome Bonus
  • Brand New Casino
#2
  • Large Selection of Slots
  • Variety of Banking Options
  • 300% Bonus up to $6,000
#3
  • High end game graphics
  • Visa, MC, BTC, Neosurf
  • Fast payouts
#4
  • Instant Play & Download
  • Over 250+ Online Slots
  • 4-8 Hr. Payout Time
#5
  • 250% First Deposit Bonus
  • Fast Payout Times
  • Large Selection of Games

Why Are These the Top Colorado Online Casino Sites?

Offering online casino action to Colorado residents is not the only criteria needed to make our recommended list. These online casino sites need to excel in many different areas for consideration. Here are some of the things that we feel are the most essential traits required:

  • A track record of excellence in safety and security
  • Offers Colorado residents their favorite casino games
  • High-quality games, software, and experience

For a detailed breakdown of our review process, check out our page on how we rate online casinos.

A Track Record of Excellence in Safety and Security

Safety and security are the first two factors we always look at when assessing top Colorado online casinos. They are the foundation for a positive online gambling experience. Without a strong track record in these two areas, online casino sites can’t possibly expect to thrive in today’s gaming climate.

Some of the questions our team asks when reviewing and ranking are the following.

  • Do they have proper SSL encryption installed?
  • Are they proactively working to eliminate digital threats?
  • Do they have dedicated fraud specialists on staff?
  • Are they using up-to-date servers and security protocols?

Colorado Residents’ Favorite Casino Games

Residents of Colorado have a particular love for certain casino games like blackjack, craps, and slots. With an annual gross gaming revenue of almost a billion dollars, it’s no secret they love their action.

2018 Gross Gambling Revenue by State (In Million US Dollars)
Colorado842.1
Nevada11,917.37
Pennsylvania3,251.2
New Jersey2,903.48
New York2,587.74
Louisiana2,561.46
Indiana2,240.84
Mississippi2,142.06
Ohio1,863.94
Missouri1,754.47
Maryland1,746.36
Iowa1,467.33
Michigan1,444.1
Illinois1,373.46
Rhode Island656.55
West Virginia623.76
Florida569.02
Delaware432.51
Kansas408.57
Massachusetts273.07
New Mexico235.45
Maine143.73
Oklahoma139.61
South Dakota106.32
Total41,684

When deciding on the top CO online casinos to recommend, we put a lot of weight on these games. While our primary goal is a well-rounded real money online gambling experience, we want to know that quality versions of the games Colorado residents love are available. We test all games, but we dedicate additional time and resources to these specific offerings.

High-Quality Games, Software, and Experience

Safe and secure online environment? Check.

Offers games Colorado residents want to play? Check.

High-quality games, software, and experience? …

The key to getting on our list of the best Colorado online casino sites is offering the highest-quality across the board. Here’s our quality control checklist when evaluating Colorado online casinos.

Quality Control Checklist for Online Casino Sites

Newest games, updated to latest versions✔️ or ❌
Classic games available✔️ or ❌
High-quality, high-resolution graphics✔️ or ❌
Seamless animations with no lag✔️ or ❌
Sufficient servers for optimal game speed✔️ or ❌
Fair games and true random number generation✔️ or ❌
Quality customer service✔️ or ❌

A Look at the Legality of Brick and Mortar Casinos in Colorado

Colorado gambling is regulated by three specific sections of code:

  • COLO. REV. STAT. §12-47.1-101 et seq
  • COLO. REV. STAT. §12-60-101 et seq
  • COLO. REV. STAT. §12-47.1-101 et seq

According to Find Law’s breakdown of the CO gambling laws, brick and mortar casino operations in Colorado are legal on a limited basis. Casinos are permitted, but they can only offer slot machines, poker, and blackjack (with a maximum bet of $5).

There is one exception:
Indian casinos in Colorado can offer full action to Colorado residents and guests.

Here is the complete list of takeaways from the breakdown:

  • Slot machines and live poker are legal in Colorado
  • Blackjack is permitted with a maximum single bet of $5
  • Greyhound racing and off-track simulcasts are legal (as of April 2003)
  • Indian casinos can offer full-service casino action to patrons

The Brick and Mortar Landscape in CO by the Numbers

  • 38 casinos
  • 14,346 slot and gaming machines
  • 220 table games
  • 118 live poker tables
  • Maximum casino bet is $100
  • 7 cities offering gambling

Are Colorado Online Casinos Lawful?

If you read through the Colorado legal codes that were stated above, you may have noticed something—there’s no mention of online gambling or Colorado online casino sites at all. It’s our stance that because this isn’t addressed, online casino action in Colorado is legal. For something to be illegal, it must break the law. If there are no laws to break, it can’t be illegal.

While this is cut and dry to us, there are some legal interpretations of the code that differ. Some claim that because it’s not outlined clearly, it’s illegal by default. Our counterargument to this is simple and takes many forms.

Going bowling is not listed as a legal activity in the Colorado legal code. Does this make bowling illegal? According to their logic, it would.

The bottom line is this. Yes, the legality of Colorado online casinos could be more explicit. But just because the legal code isn’t crystal clear does not automatically make it illegal. In our interpretation, online gambling in Colorado is legal. If you need a more definitive answer, though, consult an attorney.

Bold Predictions for the Future of Colorado Online Casino Sites

We predict that Colorado will help lead the charge towards full online casino regulation in the near future. We expect the Colorado government to outline legislation that regulates and paves the way for significant expansion in the gaming market.

Why? Well, Colorado has a track record of making liberal decisions. Typically, liberal governments push to let people do what they want (within reason). Additionally, we’ve seen movement and rumblings within the gambling community in the state hinting towards changes on the horizon.

When do we expect this to happen? We can’t say for sure.

Governments move at their own pace, and that pace is usually not as quickly as we would like.

We can’t even guarantee that our predictions will come to fruition. But in the meantime, you’re free to enjoy the Colorado online casinos already servicing the market.

If changes happen, we’d expect many more Colorado online casino sites to enter the market and for overall regulation to increase. For now, the non-government regulated gaming market in Colorado does an excellent job of governing itself. We’ll save the argument for or against more regulation in the market for another day.

FAQ’s About Online Casinos in Colorado

Yes! Your money, bets, and personal information are safe as long as you’re betting with safe and reputable Colorado online casino sites.

Additionally, we have a few security recommendations you can take to keep yourself much safer when gambling online in Colorado:

– Use a strong password and never share it with anyone.
– Never store your password online.
– Don’t log into your gaming account from a shared computer or device.
– Keep your antivirus and system updated.
– Only bet with reputable and trusted CO online casinos.

What Games Can I Play at Colorado Online Casino Sites?

When you gamble online in Colorado, you have plenty of different options to choose from. You can play slots, table games, keno, bingo, scratch-offs, sports bet, and bet on dog/horse races. There are no limits to the real money betting action you can get at Colorado online casinos.

Yes! Online casinos in Colorado offer real money action on all casino games, slots, and table games. Unlike the brick and mortar casinos where the maximum bet is $100, you can play for as high or low of stakes as you would like. The minimums are lower, and the maximums are higher when you bet online.

Am I Able to Test the Casino Games Before I Play for Real Money?

Yes. CO online casinos give you the option of playing games for free play before you deposit and play for real money. This option is a great opportunity to test drive the games, learn the rules, practice a new strategy, hone your skills, or get acclimated to the gaming system. The play money tables use the same software and random number generators as the real money tables.

Are Online Casino Games the Same Ones I’m Used to Playing in Person?

Yes, all of the games offered online are the same as the games offered in person. If you’re looking to get the same in-person action you’re used to online, you are good to go.

Colorado sports betting is a thriving ecosystem with new entrants emerging all the time. There are 13 live online sportsbooks in Colorado at the time of this writing, and over a dozen more sportsbook licenses up for grabs. The Colorado Limited Gaming Commission still has plenty of room to grow Colorado’s sportsbook industry, which got an impressive start out of the gate in its first months in business.

Most of Colorado’s sportsbooks are either standalone companies or the result of casino partnerships. DraftKings, FanDuel, and William Hill are companies whose core businesses are sportsbooks. However, Colorado’s homegrown casinos want in on the red-hot sports betting industry, too. Many have either partnered with sportsbook companies or developed their own. BetMonarch is one such sportsbook app that’s wholly owned and developed by Monarch Casino. Another is Sky Ute SportsBook, the first tribal-run sportsbook to launch in the state.

Online sports betting has taken off like a rocket in Colorado. That may be because it’s the safest betting option in the social distancing age. However, Colorado’s online sportsbooks are competitive choices for bettors’ funds. Here’s everything bettors need to know about them.

The Best Colorado Sports Betting Sites & Bonus Offers

  • William Hill >> Claim $500 Free Bet With $250 Deposit
  • BetRivers >> Claim 100% Deposit Match Bonus Up To $250
  • FanDuel Sportsbook >> Claim A $100 Risk-Free Bet
  • PointsBet >> Claim $1500 In Two Risk-Free Bets With Bonus Code BIGBONUS
  • DraftKings Sportsbook >> Claim 20% Deposit Match Bonus Up To $1000

Colorado Online Sports Betting Sites For December 2020

Pro sports got off to a late start this year due to the pandemic, and Colorado has mostly reopened since the March stay-at-home orders were rescinded. But even the lack of professional sports and the pandemic couldn’t deter Colorado from opening its first legal sportsbooks on May 1, or the bettors from flocking the newly launched sites and apps.

The launch of online sports betting in Colorado took some navigating, as officials grappled with the fallout from coronavirus. At the time of launch, there were few sports to bet on, but the market has done very well in the first months, even with bettors at first confined to wagering mostly on golf or table tennis. Here are the online sportsbooks who’ve secured partnerships in Colorado so far.

In addition to our top recommendations above, these are all of the sports betting apps in Colorado that are licensed, regulated in Colorado, and available for download:

The Best Colorado Online Sportsbooks (Ranked By Our Editors)

Best For New Bettors

$500 Free On $250 Deposit

Available On: Web, iOS, Android

Best For New Bettors

William Hill Colorado

4.7

An international sports betting brand, William Hill is taking its top-notch reputation to the US sports betting industry. Currently available in almost a dozen states, they offer all domestic and international sports odds. William Hill offers a $500 free bet to new bettors who deposit $250 or more.

William Hill Colorado

Bonus: 100% up to $500 on deposit

Retail Partner: Eldorado Resorts (Caesars Entertainment)

UK-headquartered William Hill is one of the biggest and most widely available sportsbooks in the US. Partnered locally with Eldorado Resorts (now Caesars Entertainment), William Hill kiosks have been available in Black Hawk since July, but the app didn’t launch until Sept. 8. New sign-ups can get up to a $500 risk-free bet with our exclusive link.

Best Mobile App

20% Deposit Bonus Up To $1000

Available On: Web, iOS, Android

Best Mobile App

DraftKings Colorado

4.9

DraftKings is one of the top US sports betting brands after making its name in the Daily Fantasy Sports industry. They offer one of the best mobile apps, with a easy-to-use interface. The interface makes it easy for new bettors to find sports, odds, and to place a bet. They offer a deposit bonus up to $1,000.

DraftKings Sportsbook Colorado

Bonus: 20% up to $1000 on deposit

Retail Partner: Mardi Gras Casino

DraftKings Sportsbook is one of the top US brands in sports betting, and it’s open for business for sports bettors in Colorado. Its variety of sports and lines are almost unmatched, and it offers some unique betting opportunities like teasers and parlays. It also has frequent bonuses and promotions.

Best Deposit Bonus

100% Deposit Bonus Up To $250

Available On: Web, iOS, Android

Best Deposit Bonus

BetRivers Colorado

4.7

List Of Casinos In Colorado

BetRivers makes it easy to start betting in Colorado. New bettors can claim a 100% deposit match bonus up to $250 with only a 1x playthrough. This makes BetRivers Colorado the perfect choice for more casual bettors. For more experienced bettors, check out the BetRivers jackpot parlay bet.

BetRivers Colorado

Bonus: 100% up to $250 on deposit

Retail Partner: J.P. McGills

BetRivers is owned by Rush Street Interactive, which makes iGaming platforms in addition to its sportsbook offering. One of BetRivers’ differentiators is its extensive rewards system, which start at the basic level but top off at the “luxury” rewards for higher-tier wagers.

Best Betting Experience

$1000 Risk Free Bet Offer

Available On: Web, iOS, Android

Best Betting Experience

FanDuel Colorado

4.9

Much like DraftKings, FanDue Sportsbook made its name on Daily Fantasy Sports but now offers online sports betting across the US. The FanDuel Colorado app is one of the strongest in the state, with all major sports and some minor events as well. The interface is easy to understand the sportsbooks offers competitive odds.

FanDuel Sportsbook Colorado

Bonus: $1000 Risk-Free Bet

Retail Partner: Golden Gates Casino

Once known only for fantasy sports, FanDuel Sportsbook is all grown up, serving CO sports bettors 24 hours a day. FanDuel Sportsbooks has lines on MLB, NFL, NHL, and NBA, along with all kinds of other sports and events, both niche and mainstream. It has bets on the spread, the moneyline, halves and quarters of select games, and the over/under, and offers highly competitive odds in the CO sports betting landscape.

Best For Experienced Bettors

$1,500 In Two Risk Free Bets

Weather

Available On: Web, iOS, Android

Best For Experienced Bettors

PointsBet Colorado

4.9

Australian sports betting brand, PointsBet, is one of the newest sportsbooks to launch in Colorado. Offering competitive lines on US and international sports, PointsBet offers a high-risk, high-reward options for experienced bettors in their PointsBetting system.

PointsBet Colorado

Retail Partner: Double Eagle Casino

Australian-owned PointsBet is a mobile gaming partner of Double Eagle Casino in Cripple Creek. PointsBet was one of the first sports wagering companies to announce its intentions to operate in Colorado and was awarded an online license on March 19. They finally launched their online sportsbook app in November 2020.

PointsBet offers a unique winnings boost if your team wins big, called PointsBetting, offering multipliers for winning wagers based on the number of points a team wins a game. PointsBet also has a partnership with Koenke Sports & Entertainment to be the exclusive gaming partner of the Avalanche, Nuggets, Colorado Mammoth, and the Pepsi Center itself.

All Colorado Sports Betting Sites

SportsBetting.com

Bonus: $1,000 Risk-Free Week

Retail Partner: Carousel Group (Johnny Nolon’s, Cripple Creek)

SportsBetting.com is so-far a web-only play, with no app yet announced. One thing that sets it apart is its welcome bonus. Rather than giving players a single free bet of up to $500, SportsBetting.com gives players an entire week of bets, refunding up to $500 in lost bets over that time. Unlock this promotion using our exclusive link right here.

BetMGM

Bonus: $500 Deposit Bonus

Retail Partner: Midnight Rose

MGM is a premier name in gambling and entertainment, and its sports betting app BetMGM is available to CO sports bettors. BetMGM currently operates in Colorado, Indiana, New Jersey, and West Virginia.

BetMonarch

Retail Partner: Monarch Casino

Monarch Casino in Black Hawk launched BetMonarch in May 2020, the first fully in-house sportsbook in the state developed by a casino. It offers the sports and leagues you’d expect lines on, but it also has an advantage many other sportsbooks don’t: BetMonarch rewards points players accumulate through their play can earn free hotel stays, meals, and more.

FOX Bet

Retail Partner: Eldorado Resorts (Caesars Entertainment)

Fox Bet’s local gaming partner is the Lady Luck Casino in Black Hawk, owned by Eldorado Resorts, which recently acquired gaming giant Caesars Entertainment, as well as the Isle Casino. Fox Bet has some solid bonus offers, including a $1,000 sign-up bonus ($500 risk-free bet + 100% match bonus of up to $500). In addition to the standard slate of sports to bet on, Fox Bet offers a wide range of betting boost, which are riskier, but could be lucrative wagers for lucky bettors.

SBK Sportsbook

Retail Partner: Christmas Casino*

SBK Sportsbook by Smarkets has a different approach to setting odds from most sportsbooks. Rather than making its money tilting the odds in its favor, SBK charges a 2% commission on bettors’ net winnings. The odds are then created as a consensus is slowly reached among where bettors are putting their money. SBK is a bit light on welcome bonuses, but it does offer a refund of the first $20 in lost bets over multiple bets.

Sky Ute SportsBook

Retail Partner: Sky Ute Casino

The launch of Sky Ute SportsBook made a bit of history for Colorado sports betting as the first tribal-owned casino in the state to launch its own sportsbook. Being on tribal lands, Sky Ute isn’t beholden to Colorado state laws governing odds, so they say their lines are some of the best in the state. Bettors can fund an account and start betting with just $25.

Circa Sports

Retail Partner: Century Casinos

Circa Sports, a Las Vegas-based sports wagering operator, was the first partnership agreement struck by Century Casinos, which operates two eponymous casinos in Colorado, one in Black Hawk, the other in Cripple Creek. Circa Sports is partnered with the Cripple Creek location, so that’s where eventual Circa-branded kiosks and windows will most likely be located. Circa offers multiple deposit and withdraw options, and has some of the best odds on favorite to win bets of any CO sportsbook.

BetWildwood

Retail Partner: Wildwood Casino

Cripple Creek’s first retail sportsbook, Woody’s at Wildwood, was also the first self-launched app by a casino in Colorado’s southern gambling resort town. BetWildwood offers sports bettors moneyline and spread bets on a variety of sports, and has live in-game betting for many. There are numerous deposit/withdrawal options, and it offers new members a $50 free bet.

ELITE Sportsbook

Retail Partner: Red Dolly Casino

ELITE Sportsbook was the 11th sportsbook to launch in Colorado. Bettors can start placing wagers on its website or through the app right now. ELITE Sportsbook offers bettors a variety of prop bets and parlays, and promotions will be available, including a sign-up bonus worth up to $1,000 in free bets. The company says it will be the only sportsbook in the state to offer a progressive parlay.

theScore Bet

Retail Partner: Jacobs Entertainment

theScore bet is a popular sports betting platform that launched in Colorado in September through its partnership with Jacobs Entertainment, which owns and operates the Lodge Casino and Gilpin Casino, both in Black Hawk. theScore debuted in New Jersey in 2019, the first ever sportsbook launched by a North American Media company, Score Media.

Betfred

Retail Partner: Saratoga Casino

Betfred, a major player in the United Kingdom sports betting market, expanded into the US in 2020, with the first Betfred USA sportsbook opening at Iowa’s Grand Falls Casino. The brand’s second US location is Colorado. Saratoga Casino has partnered with Betfred USA for its sports betting platform. Betfred operates more than 1,500 locations in the UK. Betfred’s sportsbook was the very first retail window to open in Colorado, giving it a first-mover advantage.

Not-Yet-Launched Sportsbooks

Barstool Sports (Penn National Gaming)

Retail Partner: Ameristar Casino

Best.online Casino Colorado Springs

Penn National, which operates the Ameristar Casino Black Hawk, has brought its Barstool Sports sportsbook brand to Colorado and soon will open branded retail sportsbook windows at Ameristar, the largest casino in the state. Ameristar soft-launched a self-branded sportsbook this summer, so bettors can place bets in person for now until the Barstool Sports app launches.

Twin River Worldwide Holdings

Two of the biggest names in mobile sports betting will come to Colorado via Twin River Worldwide Holdings, which has been awarded three master licenses from the CLGCC.

Twin River (operating as Premier Entertainment Black Hawk in Colorado), has announced partnerships with both FanDuel Sportsbook and DraftKings Sportsbook, the two companies leading the market so far in open mobile sports betting markets in the US.

Three Colorado land-based casinos (Golden Gates, Golden Gulch, and Mardi Gras) were purchased by Twin River in January, with the intent of using those properties in partnership with FanDuel and DraftKings to bring sports betting to Colorado.

Online Sports Betting Partnerships

Colorado Online SportsbookDeposit BonusLaunch DateVisit Site
William Hill$500 Risk-Free BetSeptember 8Visit WilliamHill.com
DraftKings Sportsbook20% up to $1000May 1Visit Draftkings Sportsbook
BetRivers100% up to $250May 1Visit BetRivers
SportsBetting.com$1,000 Risk-Free WeekSeptember 13Visit SportsBetting.com
FanDuel Sportsbook$1,000 Risk-Free BetMay 1Visit FanDuelSportsbook.com
BetMGM$500 Deposit BonusMay 1Visit BetMGM Sportsbook
PointsBet2 Risk-Free Bets; One $500 fixed-odds bet, One $1,000 risk-free bet for PointsBettingNovember 18Visit PointsBet
BetMonarch-May 9
FoxBet$500 Risk-Free Bet; $10 Bonus Bet for Broncos bettingMay 19
SBK Sportsbook$20 Risk-Free BetJune 4
Sky Ute Sportsbook-June 9
Circa Sports-July 1
BetWildwood-July 10
Elite Sportsbook50% up to $500, $500 Risk-Free BetAugust 14
theScore Bet$100 Free Bet, Up to $1k Cash Back bets in 60 daysSeptember 2
BetFred Sports$500 Risk-Free BetSeptember 8

Guide To Betting Online In Colorado

Although Colorado’s sportsbooks are each uniquely branded, there are similarities between each sportsbook. Here are a few things bettors can expect no matter where they wager.

Common Sportsbook Bonuses

When bettors create sportsbook accounts, they’re often offered welcome bonuses. These bonuses incentivize bettors to place wagers and continue placing bets long after the first one is settled. The most common bonuses in Colorado are deposit bonuses and risk-free bets.

Deposit bonuses usually require bettors to deposit funds into their accounts. (There are also deposit bonuses that award site credits upon signup, but they’re usually tiny–less than $50.) Most deposit bonuses will match bettor deposits at a certain rate. For example, Fox Bet has a 50% deposit rate. That means for every $2 bettors deposit, Fox Bet will give a bettor $1 in site credits. That allows bettors to deposit at their own pace and place larger bets with less risk.

However, these deposit bonuses usually max out at $250 to $500. Sportsbooks can’t award site credits indefinitely.

Many sportsbooks also offer risk-free bets. They’re bets that get refunded if bettors lose a bet. FanDuel offers a risk-free bet of up to $500. If a bettor’s first wager is $500 and it loses, then that bettor will get $500 back in site credits. However, the risk-free bet is only good for the first bet. So, a $50 that loses would only get $50 of site credits back. Risk-free bets are popular choices for sportsbooks to offer, but they don’t allow bettors to wager at their own paces like deposit bonuses.

Colorado Teams That Can And Can’t Be Bet On

There are many different sports to bet on, but Coloradans have their favorite teams. The Broncos will have lines available during the NFL season. They’ll have moneylines and point spreads ripe for enthusiastic betting. There are plenty of prop bets and futures that’ll be available on the Broncos, too.

A Colorado list of teams wouldn’t be complete without the other three main sports, though. The Colorado Rockies, Colorado Avalanche, and the Denver Nuggets are huge draws for sports fans across the state. All of them are fair game for sports betting, too.

College teams are fair game for certain types of bets, too. The Colorado Buffaloes are one of Colorado’s most popular teams, whether it’s CU’s football or basketball teams. Bettors will have the standard moneylines, spreads, and futures available as the professional teams offer.

However, Colorado sportsbooks won’t offer prop bets on college games. Colorado’s Division of Gaming prohibits prop bets on college games. It likely arises from a compromise with the NCAA, which is adamantly opposed to sports betting. Bettors shouldn’t be surprised when they don’t find sports betting on college teams.

What Is The Status Of Esports In Colorado?

Colorado

Colorado not only allows esports betting. It also counts esports among its authorized sports catalog. The Division of Gaming’s rules stipulate that the Division will regulate sports and bets. That way, no one can make up a sport or bet that cons bettors out of their money. Sports matches must have clear, consistent rules to ensure bettors can understand how their wager will play out throughout the game. Bets must have similarly clear rules. Otherwise, sports betting wouldn’t be fair to bettors.

Sportsbooks Coming Soon To Colorado

There are two sportsbooks that are in other states but could come to Colorado next. The first one is Golden Nugget. It’s available in New Jersey, but it doesn’t have a partnership in Colorado yet. The second is Parx. It has an online casino and sportsbook in Pennsylvania, another prominent sports betting state.

However, the full list is anyone’s guess. There will likely be more than two dozen online sportsbooks in Colorado by the time everyone arrives.

Legal Vs Illegal Sports Betting In Colorado

Sports betting used to be an illegal activity in all but four states. Sports bettors’ only options were illegal sportsbooks and bookies. If there was a bookie or website that bettors created relationships with, it could be hard for some of them to leave. However, legal sports betting sites are superior to illegal sites.

Legal sportsbooks are required to have a cash reserve so it can pay their winning bets out. Think about what happens if an underdog with long odds comes through. A futures bet with +5,000 odds will drain a sportsbook’s cash reserve quickly. Licensed sportsbooks have a formula set by the Colorado Division of Gaming to determine how much cash to have on hand.

In contrast, local bookies may not have that kind of cash on hand. They could be collecting bets informally at the bar with a makeshift business. In that case, there’s nothing stopping them from pocketing bettor money. Even if they’re reliable, they may get stretched too thin and be unable to pay out winnings. If that happens, bettors have no legal recourse because betting with a bookie is illegal in Colorado. They’re stuck without their winnings.

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The worst-case scenario is a bookie that works for a crime syndicate. Your bookie may be cool, but his employers may come after bettors who bet on credit and don’t repay their debts. Bettors in good standing may also fund human and drug trafficking unknowingly. Licensed sportsbooks’ transparency ensures bettors don’t fall into these traps.

How Do I Know Online Sportsbooks Are Fair?

Online sportsbooks aren’t all shady offshore websites. However, new bettors may struggle to tell the difference between the two. Here’s how bettors can know they’re betting at a legitimate company.

Who Regulates Legal Online Sportsbooks?

The Colorado Division of Gaming regulates all the sportsbooks in Colorado. It’s a government agency that awards licenses, establishes rules, and enforces industry guidelines. The Division of Gaming also has resources for sports betting operators and customers alike, creating a transparent environment for all industry players.

Before sportsbooks are licensed, the Division of Gaming thoroughly examines each applicant. That includes financial statements, background checks, and a complete record of lawsuits the applicant was involved in. And if a sportsbook doesn’t pay out winnings, the Division of Gaming is a bettor’s next stop. It has processes in place to keep sports betting safe and fair across the board.

Why Should I Trust Online Sportsbooks?

Before they go live, online sportsbooks submit to a security audit. It ensures the sportsbook can protect sensitive bettor information. The sportsbook hires an independent auditor who submits her findings to the Division of Gaming. If the auditor finds areas of improvement, she’ll list them in the report as well.

The Division won’t award a license to a sportsbook that can’t protect its bettors’ information. Since bettors submit their banking information during registration, sportsbooks need top-notch security in place. Bettors can rest assured that by the time they place a wager, their sportsbook of choice is prepared to protect their data.

How Do I Get Paid If I Win?

Sportsbooks make transferring money in and out of the sportsbook account easy. They know no one wants to bet at a sportsbook that makes handling money a hassle. If bettors win, they’ll have cash moved into their sportsbook account. From there, it’s usually as easy as hitting ‘withdraw’ and moving money to their bank or PayPal account. There are other options too, but no one’s using 7-Eleven’s cash withdrawal option during a pandemic.

In short, bettors can get paid from the app. They just have to win, which is win. Best of luck to all the aspiring bettors out there!

Online Sports Betting FAQs

Online sports betting is new to Colorado, so bettors may have a few clouds of doubt about the industry. Here are some common questions we can clear up at the end.

Can I sign up at a Colorado sports betting site or app without visiting in-person?

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Yes, you can register online and start betting anywhere in Colorado. You only need to be physically within the Colorado border to place wagers.

What Kinds Of Sports Bets Are Legal In Colorado?

Moneylines, spreads, prop bets, and futures are legal on professional teams. However, Colorado bettors cannot place prop bets on college games. All bets are prohibited on high school games. (No one seriously thought DraftKings would have lines on their daughter’s softball game, did they?)

Yes. Because the Buffs are a PAC-12 team, college sports is a big draw in Colorado. And that’s before factoring in all their popular opponents. Everything besides prop bets is fair game on college sports.

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Yes. Several sportsbooks have esports sections in their apps. If the pandemic shuts down major sports again, bettors may end up relying on the esports section to get their betting fixes. Counter Strike, anyone?

What Is The Tax Rate For Online Sports Betting In Colorado?

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10%. The taxes largely go to water conservation projects in Colorado. Since Colorado shares water with seven other states, it’s a lot more than an environmentalist cause. It’s a precious resource that’s being funded by a portion of every bet.

Who Can Get A License To Run An Online Sportsbook In Colorado?

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Licensed Casinos and established sportsbook companies. Unless aspiring entrepreneurs have all the pieces of their business in place, they can’t complete the license. It wouldn’t be impossible for someone to start a sportsbook in Colorado. However, it would require a massive cash infusion upfront. The sports betting market is largely inaccessible to companies without a track record.

Yes. It was also one of the first sportsbooks to do so.