Colorado Betting Sites: Top CO Licensed Sportsbooks in 2023

The US Sun

13 April 2023

SPORTS betting is legal and regulated in the state of Colorado, and has been since 2019. It includes in-person betting in more than 30 casinos in the Centennial State, online and via mobile. By 2023, there were at least 25 different online betting platforms operating in the state.

Colorado owes all of this to the removal of something called the Professional and Amatuer Sports Protection Act, which the Supreme Court struck down in 2018. PASPA had acted as a federal ban on sports betting in the US, but its removal paved the way for each state to determine its own laws surrounding sports betting.

The following year, the people of Colorado approved the legalization of sports betting by popular vote and the first bet in the state was finally booked in May 2020.

We’ve got all the details on that journey right here, as well as info on the best sportsbooks in the state, how to sign up and place a bet, tips, bonuses and much more.

Top Colorado sports betting sites

Check out our list of the best online sportsbooks in Colorado below - these sites stand out from the rest.

A look into the state of sports betting in Colorado

Colorado is notable among US states in that the legalization of sports betting was not simply a matter for the state legislature. Instead, once a legislative bill was passed, it still required approval from the people of Colorado before it passed into law - as is mandated by the state constitution.

It was far from a foregone conclusion either. Proposition DD: Legalization and Taxation of Sports Betting - to give it its official name - passed by 50.71% to 49.29%, a margin of just 20,000 votes. Upon its passing, sports wagering officially became legal in Colorado.

In-person gambling in Colorado is centered around three main towns, Blackhawk, Central City, and Cripple Creek. They contain most of the 33 casinos in the state, like the Monarch Casino or Ameristar Casino. Once Prop DD was passed, any of those casinos could apply for a gaming license from the Colorado Limited Gaming Control Commission. They can also partner with online gambling platforms to offer online and mobile betting.

And plenty of them have done just that, with around 25 different online sportsbooks up and running in Colorado by 2023, each of them with a brick-and-mortar partner.

History of Colorado sports betting

The history of Colorado’s sportsbooks really begins in 2018. With the Professional and Amatuer Sports Protection Act in place, it was impossible for states to legislate for legal sports betting. On the removal of PASPA, the door was thrown open for every state in the US to choose its own sports betting path.

Colorado was one of the more proactive states, and within a year a bill had been crafted named HB19-1327. It aimed to legalize both in-person and online sport betting, with revenue taxed at 10% and used to fund initiatives like the Colorado Water Conservation Board. HB19-1327 enjoyed cross party support, and was signed by Gov. Jared Polis in May 2019.

However, according to Colorado’s Taxpayer’s Bill of Rights, any measure that involves new taxes or tax alterations is required to be put to a public vote - which was scheduled for November 2019, six months after the bill was passed. Proposition DD scraped through at the ballot box, and sports gambling officially became legal in Colorado.

It’s not until May 2020 that the first bets are booked in Colorado, with a handful of sportsbooks including DraftKings, FanDuel, betMGM and BetRivers the first to launch in the state. Unsurprisingly, the nascent gambling industry wasn’t helped by the COVID-19 pandemic, but by the end of the year there are 15 online sportsbooks in the state.

The industry steadily expanded over 2021, with the total number of sportsbooks in the state almost doubling and the total amount of bets in the state hitting the $5 billion mark in December.

It was a similar story in 2022, and the year closed with the same figure topping $9 billion.

A closer look at the best sports betting sites in Colorado

WynnBET sign up

Bet $100 get $100 bet credit

The WynnBET betting app is an absolute essential for anyone that ever visits Wynn Resorts in either Las Vegas or Boston. Every time you bet via WynnBET you earn reward points that can be cashed in at the casino, as well as other IRL prizes. In many ways, the app feels like an extension of the real Wynn Resort.

WynnBET doesn’t have the largest list of sports in the state, but some of its betting tools are very interesting. There are daily odds boosts and the Build Your Own Bet feature is a great addition to the app.

DraftKings

Bet $5 and win $150 in bonus bets

DraftKings has steadily grown into one of the best sportsbooks in the US. It’s a site with very few weaknesses: it has loads of sports and bets, a welcome bonus worth up to $1,000 and a solid live betting platform. Plus, it comes with the added benefit of access to Daily Fantasy Sport, which is also available in Colorado.

One minor drawback is that instead of providing a phone line for customer support DraftKings utilizes a call-back service, which is a little convoluted and clunky for our taste.

How to pick the best sportsbook in Colorado

Unfortunately, there is no simple answer to choosing the best sportsbook in Colorado. Each one is different and has its own strengths and weaknesses. Moreover, every bettor is different too, and what I’m looking for in a sportsbook might be very different to what you are.

That said, there are certain factors that always go into the decision. Check out our list of things to consider below.

Promotions and bonuses - Some people love getting something for nothing, like a no deposit bonus. Some just want to maximize their bankroll with deposit match bonuses. For some, it’s the security of money back offers or risk free bets. There are lots of different bonuses out there, and you need to figure out which ones make the most sense for you.
Variety of sports available - Simply put, you need to make sure you’re going to be able to bet on the sports you are most interested in.
Best odds - Being a successful sports bettor is all about finding value. Shopping around and finding the best odds is a huge part of that.
Payment methods - You need to ensure your sportsbook has a payment method that works for you, be it credit cards, bank transfer, e-wallet or anything else.
Fast withdrawal options - Some people want fast access to their wins above all else. For others, waiting a few days for your request to be processed is no big deal.
Customer service - You never know how important it is until you need it. Look for live chat, email and phone support, FAQs and lots of detail in the help section.
Security and licenses - You definitely want to avoid unlicensed or unregulated sites. Luckily, every site we recommend is regulated by the Colorado Limited Gaming Control Commission
Mobile apps - If mobile betting is your thing you should pick a book with a highly rated app which is compatible with your phone.

Signing up to a sportsbook in Colorado is pretty much idiot proof. The sportsbooks have the process down to a fine art, and it’s really just a matter of providing them with some basic personal information.

The sign up process is also often your opportunity to type in a bonus code or promo code, which acts like a password that unlocks a welcome bonus. If you leave it blank, you may miss out on a juicy bonus.

Here is the info you’ll need to join a Colorado sportsbook:

Name
Date of birth
Username
Password
Address
Phone number
SSN

Finally, you’ll need to verify your identity to complete the process. This involves sending the customer support team a copy of your ID and it might take a few days to complete.

Sportsbooks in Colorado are legally required to verify the identity of all their players, but it only needs to be completed once.

WynnBET sign up

Bet $100 get $100 bet credit

How to place a sports bet in Colorado

Placing a bet is also extremely simple. Once you understand how the virtual betslip tool works, you’ll have absolutely no trouble.

Here are simple instructions for placing a bet on the Denver Broncos for instance.

Sign into your sportsbook account, open the NFL section and find the upcoming Broncos game.
Choose the bet you want to place and click the odds. It will automatically get added to the betslip.
If you want to add extra bets or create a parlay, click on them too. You can add multiple bets on the same betslip, and it will automatically update with the different options for combination bets.
Once you’ve selected your bets, open the betslip. Normally it pops open as soon as you add a bet.
If it’s a single bet, type in your stake and the betslip will show how much you stand to win. You can play around with it and test out different stakes.
If you’re building a multi-leg bet, you’ll have to choose the format (doubles, trebles, teasers etc). Again, you can play around with different stakes.
When you’re ready, click the “Confirm” button and your bet will be in place!

Interesting Colorado sports betting facts

Sports betting was legalized in Colorado in November 2019.
Legalization was effectively a two step process. First, bill HB19-1327 was passed by the state legislature in May 2019.
According to the Colorado Taxpayer’s Bill of Rights, all tax amendments must be confirmed at the ballot box.
The following November, the people of Colorado narrowly voted in favor of Proposition DD, officially bringing legal sports betting to the state.
The first sportsbooks opened for business in May 2020.
Sports betting revenue is taxed at 10%.
There are some restrictions on sports betting in Colorado. You cannot bet on high school sports, esports or award ceremonies like the Oscars.

Our top 5 sports tips and strategies for sports betting in Colorado

It’s an extremely exciting time to be a sports fan or gambling fan in Colorado. The betting scene has exploded in just a few short years and shows no signs of slowing down.

Shop around for value - Colorado has almost 30 different sportsbooks. You don’t need to have an account with every single one, but shopping around for the best odds can make a huge difference to your profit margins.
Bet responsibly - Set yourself a budget of $20 a week, or whatever you can afford. Don’t chase your losses and recognise that sports betting is not a way to make money. Instead, think of it like a Netflix subscription, or any other form of entertainment.
Bet on what you know - The most successful bettors specialize. It’s tempting to bet on all kinds of different sports, but it’s rarely a good strategy. Better to pick a single sport, league or even team and become an expert.
Research beats hunches - Successful sports betting is rooted in patience and careful research. It’s not exactly the most exciting tip, but ideally you should never place a bet on a whim. Instead, it should always be based on analysis and identifying value.
Timing is important - If you want to bet on the public favorites, better do so at the start of the week as soon as the line is released. If you wait until the last minute, the odds are likely to get worse because so many people are betting on the same thing.

Colorado sports betting FAQ

What types of sports bets are legal at Colorado’s betting sites?

All major sports in the US and around the world are legal to bet on in Colorado. That goes for NFL, MLB, NBA, NHL, soccer, tennis, golf, boxing, the Super Bowl, the World Cup, the Stanley Cup - whatever you can think of!

The exception is high school sports, which is illegal to bet on. Betting on esports is also illegal, as is betting on entertainment awards like the Oscars or the Golden Globes.

Who can bet on sports in Colorado?

Anyone over the age of 21 can bet on sports as long as they are physically located within state lines.

The exception is anyone who is professionally involved in sports - players, coaches, referees etc - who are not allowed to bet.

Where can I bet on sports online in Colorado?

Chicago has an extremely healthy range of online sports betting platforms, including mobile apps. In total there are 25 different sportsbooks in the state, including the following:

WynnBET
DraftKings
Si Sportbook
Fan Duel
Pointsbet
BetMGM

What bonuses and promotions are available at online sportsbooks in Colorado?

Bonuses and promotions are a key tactic for sportsbooks trying to attract new players and stand out from the competition. For example, DraftKings offers new players a 20% deposit bonus worth up to $1,000. WynnBET has a 100% bonus, worth up to $100. BetMGM will give you your first bet risk free, up to $1,000.

DraftKings

Bet $5 and win $150 in bonus bets

Sportsbooks are constantly coming up with new bonuses to keep excitement levels high. Below are some of the most common offers:

Deposit Bonuses / Match Bonuses
No Deposit Bonuses
Free Bets
Risk Free Bets
Odds Boosts
Parlay Boost
Reload Bonuses
Money Back Specials

What are the most popular sports to bet on in Colorado?

Perhaps unsurprisingly, the four major leagues dominate the sports betting markets as they do in basically every US state, with basketball the most popular in Colorado. Outside of them, winter sports like skiing and snowboarding sit along with the likes of golf and tennis in the list of sports Colorado loves.

Sports betting habits also ebb and flow along with the sporting calendar, so the most popular sports vary throughout the year. Taken on average over the year however, most analysts rank the most popular sports as below: