A lightning guide to online sports betting in Colorado
Online sports betting is live and legal in Colorado. Here’s a lightning quick guide to everything you need to know:
- November 2019: Online and retail sports betting was made legal in Colorado after a statewide referendum vote.
- May 2020: Sports betting launched in Colorado. Four sportsbooks were originally given licenses but this number has now increased.
Both retail and online sports betting are permitted in Colorado as long as bettors are over the age of 21 and physically located within the state.
Is college sports betting allowed in Colorado?
It’s 100% permitted to bet on college sports in Colorado, including college basketball and football.
What sort of betting markets are there?
Bettors in Colorado can access a lot of different bet types, including moneylines, futures, totals, spreads and more. In line with Colorado gambling regulations, prop bets on individual players in college sports aren’t allowed.
How about paying taxes on winnings?
Under Colorado state law, you’ll have to declare any winnings you make from gambling on your annual tax return. This is set at a flat rate of 4.40%.
It’s a dog eat dog world of competition out there, but welcome promotions are one of the ways that sportsbooks stand out from the crowd. These are the most popular Colorado
sports betting bonus types explained.
Deposit match
This kind of welcome promotion gives you a bonus bet amount equal to your deposit, or a percentage of your deposit. For example, a 50% match on an initial deposit of $100 would give you $50 in bonus bets.
The best deposit match bonuses, usually those hoping to attract new bettors to a site, can provide a 100% match, or even more.
Advantages
- The higher your deposit, the more credit you get
- Simple to claim
- Adds to your bankroll
- Bonus credit delivered quickly as bonus bets
Bet & get bonus
A bet & get bonus gives new bettors a set amount of bonus bets once they make a deposit and a qualifying wager. The wager can be low as $5, while the value of the bonus bets can run into hundreds of dollars. Bonus bets can’t be withdrawn but any winnings made from them can be.
Advantages
- Doesn’t matter if your first bet wins or loses
- Easy to claim
- Split up into smaller amounts
- Lets you make risk bonus bets
Disadvantages
- Bonus bets expire after a few days
First bet offer, or 2nd chance bet
This welcome deal is another common type of Colorado sportsbook bonuses. If your first wager loses, the sportsbook will refund your bet amount to you as on site credit, up to a set limit. So, if you make your first bet for $100 and it doesn’t win, you’ll get $100 back as a bonus bet to use on the site.
Advantages
- Make a risk free first bet
- Receive 100% of your stake back
- Painless to claim
- You’ll have several days to use bonus bets
Disadvantages
- Your original wager has to lose for you to receive the bonus
Our top sportsbook picks for CO
1.
Bet $5 Get $200 or $1000 First Bet Safety Net
Players from Virginia accepted
Bet now
Whatever the sport. Whatever the moment. It’s Never Ordinary at bet365. That’s why if you sign up now you’ll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $200 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply.Gambling Problem? Call 1-800-Gambler 21+
2.
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Players from Virginia accepted
3.
Bet $5 Get $300 in Bonus Bets if you win
+ Boost or Bonus every day in the Summer
Players from Virginia accepted
4.
First bet back as a bonus bet up to $1000
Players from Virginia accepted
5.
Second chance bet: Get up to $500 in Bonus Bets
Players from Virginia accepted
There are 20 online sportsbooks open to Colorado bettors at the moment, all with an exciting range of welcome bonuses. I’ve picked out the very best of the bunch to make choosing between them an absolute breeze:
| Sportsbook | Bonus | Promo code |
| BetMGM | Wager $5 and get $158 in bonus bets | No promo code required |
| DraftKings | Bet $5, and get $200 in bonus bets. | No promo code required |
| FanDuel | Get $200 in bonus bets when you make a winning $5 wager. | No promo code required |
| Bet365 | Bet $5 and get $150 in bonus bets. | No promo code required |
| Caesars | ‘Risk-Free’ first bet worth up to $1,000. | Use promo code CRZ1000 when you sign up |
BetMGM Colorado welcome offer
BetMGM Bonus: Pros & Cons
- Receive bonus bets in 24 hours
- Small initial outlay
- Get a bonus whether your initial bet wins or loses
- Bonus bets divided up to use on multiple wagers
- Bonus bets have to be used in 7 days
How does the BetMGM sign up bonus for Colorado bettors work?
BetMGM are one of the most renowned sportsbooks open to US bettors and their deal is one of the best and simplest Colorado betting bonuses you could ever find. Bettors don’t need any prior experience to make a new account as the process is streamlined and just requires you to input some basic details like name, address, and date of birth.
Once your account is live, you can use any of the numerous payment methods that BetMGM accept to make an initial deposit of at least $15. Then you’ll need to place a wager of at least $5. When the bet has ended you’ll get $200 in bet tokens.
How to withdraw your winnings?
Once you’ve received your bonus bets you can use them to place wagers on any sport you like, and there are a lot to choose from. In common with many of the
best sportsbook promotions, if these bets are winners you’ll be able to withdraw your winnings but not the stake.
Is this the best bonus for Colorado sports bettors?
The light initial outlay required to claim this bonus should make it a favorite among Colorado sports bettors who are new to this type of play. The fact that the bonus bets are divided up means that you can try out a few different types of bet too.
Bonus quick facts
To make claiming this bonus as low stress as possible, I’ve outlined key portions of the promotion terms and conditions that you should bear in mind:
- Your first deposit must be at least $15.
- Your qualifying bet has to be a minimum of $5.
- You should get your $200 bonus bets in 24 hours. They’ll be split up into three tokens – two worth $50, and one worth $58. Each bonus bet must be used in its entirety on one wager.
- Bonus bets expire after 7 days.
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
DraftKings Colorado welcome offer
DraftKings Bonus: Pros & Cons
- No promo code required
- Can be claimed on the app
- Receive bonus bets regardless of first bet outcome
- Low minimum deposit of $5
If you’re looking for a fantastic sportsbook deal in Colorado then DraftKings definitely fits the bill. Their welcome promo gives you $200 in bonus bets when you sign up for a new account and place an initial wager of just $5.
How does the DraftKings sign up bonus work for Colorado bettors?
DraftKings gets top marks from me for the simplicity of their latest promotion. Once you’ve joined the site, added a deposit, and made your first wager, you’ll get $200 of bonus bets to use on any market. There’s no requirement for any Colorado sportsbook bonus codes, making things even more straightforward.
You’ll then have seven days to use your bonus bets, which come as 8 x $25 tokens. Bonus bets can’t be withdrawn, but any winnings you make from them can be.
Is this the best bonus for Colorado sports bettors?
The DraftKings welcome bonus is a low risk way to get your hands on $200 of betting fuel. Anything you win you get to keep so there’s the potential for this promotion to be quite lucrative.
Bonus bets are split up into $25 chunks so you don’t need to worry about using all of them at once. It also means that if you don’t quite manage to get through all of them before they expire, you haven’t lost the whole amount.
Bonus quick facts
In order to claim this bonus, you’ll have to meet a few specific requirements:
- The minimum deposit to be eligible for this bonus is $5. The minimum wager amount is $5.
- After you’ve made your qualifying wager, and it’s completed, your bonus tokens should be in your account in 24 hours.
- Bonus bets expire after 7 days (it’s counted as 168 hours from the time they were issued).
Bet $5, Get $250 in Bonus Bets and 1 month of NFL+ Premium on us!
FanDuel Colorado welcome offer
FanDuel Bonus: Pros & Cons
- $200 as 8x $25 bonus bets
- Low initial bet requirement of $5
- Hassle free claiming process
- Use your bonus bets on any market
- Only available on winning bets
Coming in as one of the top Colorado betting bonuses, FanDuel will give new Centennial State bettors $200 in bonus bets when they make a qualifying wager of $5.
How does the FanDuel sign up bonus work for Colorado bettors?
You don’t need to use a promo code to collect this bonus but you will need to download the FanDuel app. Once you’ve done that you can place your first wager of at least $5. If it wins, then the good times keep coming with an instant delivery of $200 in bonus bets.
Is this the best bonus for Colorado sports bettors?
The FanDuel sign up bonus is competitive in the market (except against DraftKings because they’re perfectly matched). The low initial outlay makes it a good option for new sign ups, and the fact that bonus bets are delivered in smaller portions means you can stretch your gambling out over a few days. However, you need to bear in mind that it only kicks in for
winning
bets.
Bonus quick facts
These are the key terms and conditions of the FanDuel bonus:
- You’ll need to make a minimum first time deposit of $10 and a first wager of $5 or higher.
- Bonus bets come into your account within 3 days of your original bet settling.
- You can split up your bonus bets into smaller denominations to be used on any market.
- Bonus bets expire after 7 days.
Bet $5 Get $300 in Bonus Bets if you win
Bet365 Colorado welcome offer
Bet365 Bonus: Pros & Cons
- $150 in bonus bets
- Use your bonus bets on any sport
- 30 days to claim your welcome bonus
- Bonus isn’t tied to the outcome of your bet
- Look out for restrictions on odds
Bet365 joined Colorado in September 2022. They have a high pedigree for innovative features and an easy to use site, as well as excellent bonuses. Bonuses like their current welcome deal that is – $150 in bonus bets when you make a new bettor account and place a $5 wager.
How does the Bet365 sign up bonus work for Colorado bettors?
Whether your first bet wins or loses, as long as it’s over $5, you’ll get $150 in bonus bets with the Bet365 welcome. You can make your qualifying bet on any market as long as it has minimum odds of -500. That means you could start things off at Bet365 with a win, or a loss, and follow it up with a $150 boost to your bankroll.
Is this the best bonus for Colorado sports bettors?
This is a strong contender for one of the best Colorado betting bonuses. The $5 qualifying bet is easy to achieve and opens the door to an immediate $150. Your bonus bet credit can be used to place multiple smaller bets, so you don’t even need to use it all at once, and it’s eligible to use on any betting market or bet type.
Bonus quick facts
To make claiming the Bet365 bonus even easier, I’ve highlighted the key terms and conditions below:
- You must make a first deposit of at least $10.
- Make a minimum $5 wager within 30 days of opening your account. To meet the bonus requirements, your bet must include a selection with odds of -500 or more.
- Once issued, bonus bets last for 7 days.
Bet $5 Get $200 or $1000 First Bet Safety Net
Whatever the sport. Whatever the moment. It’s Never Ordinary at bet365. That’s why if you sign up now you’ll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $200 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply.Gambling Problem? Call 1-800-Gambler 21+
Caesars Colorado welcome offer
Caesars Bonus: Pros & Cons
- Up to $1,000 safety net bet
- Straightforward bonus to claim
- You’ll have 14 days to use bonus bets
- No odds restrictions
- Not available if your first bet wins
One of the most generous Colorado betting promos, Caesars will guarantee your first bet up to $1,000 if it loses.
How does the Caesars sign up bonus work for Colorado bettors?
Getting the Caesars sign up bonus is simple. Once you’ve signed up for a new account (using the promo code CRZ1000), you’ll have 30 days to make your first deposit and place a wager. If this bet fails to win, Caesars will give your stake back in bonus bet tokens, up to a limit of $1,000.
Is this the best bonus for Colorado sports bettors?
If you’ve got a bet in mind, for example you think the Nuggets will repeat history and get another Finals win, then this bonus ensures that you’ll either win, or get your stake returned to you as bonus bets.
Bonus quick facts
I’ve read the terms and conditions of the Caesars sign up bonus carefully, and noted several important features:
- You must make your first bet within the first 30 days of having your account.
- Bonus bets will disappear 14 days after issue.
- The maximum amount of bonus bet credit you’ll receive is $1,000, which comes as one token and can’t be split up.
Bet $5 Get $200 or $1000 First Bet Safety Net
Whatever the sport. Whatever the moment. It’s Never Ordinary at bet365. That’s why if you sign up now you’ll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $200 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply.Gambling Problem? Call 1-800-Gambler 21+
Final thoughts on Colorado sportsbook bonuses – lots of deals in store for colorful Colorado
It’s never been easier to find a whole collection of scintillating bonuses at the top online sportsbooks in Colorado. My list features five of the best, which I’ve tested out myself to make sure there are no nasty surprises in store for you guys. These bonuses are simple to claim, and have clear and easily navigable terms that make them ideal for the first time bettor.
And the best bit – every single one delivers over $100 in bonus funds. In the main, your bonus bets come from making a small one time wager, but Caesars is the site to visit if you’re looking to make a higher value, risk free wager.
It’s always important to read through a bonus’ full terms and conditions so you’re confident you can meet the minimum requirements and you’re clear on any playthrough rules. And if you’re new to sports betting then don’t forget that online
betting calculators
can help you to work out your potential winnings and losses.
In case you missed them…
1.
Bet $5 Get $200 or $1000 First Bet Safety Net
Players from Virginia accepted
Requirements (WR): 1x Bonus, Min. Deposit: $10
Whatever the sport. Whatever the moment. It’s Never Ordinary at bet365. That’s why if you sign up now you’ll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $200 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply.Gambling Problem? Call 1-800-Gambler 21+
2.
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Players from Virginia accepted
Min. Deposit: $10
3.
Bet $5 Get $300 in Bonus Bets if you win
+ Boost or Bonus every day in the Summer
Players from Virginia accepted
Requirements (WR): 1x Deposit, Min. Deposit: $10
4.
First bet back as a bonus bet up to $1000
Players from Virginia accepted
Requirements (WR): 1x Deposit
5.
Second chance bet: Get up to $500 in Bonus Bets
Players from Virginia accepted
Requirements (WR): 1x Bonus, Min. Deposit: $10
🏡 Do you have to be a resident to claim Colorado betting offers?
You don’t need to call Colorado home to be able to get one of these bonuses but you will need to be physically in Colorado at the time of making your account. Sportsbooks will verify this using geolocation technology, special software that tells them where you are.
🤨 How do I claim a sportsbook bonus in Colorado?
To be able to claim any of these bonuses you’ll need to meet a few specific criteria. You’ll have to be over the age of 21 and located in Colorado. You’ll also need to be a new customer at the sportsbook you choose. Many of these deals don’t require Colorado sportsbook promo codes but I’ve highlighted any that do.
If you’ve had an account previously you won’t be able to claim the welcome deal but you will be able to grab any current promotions for existing bettors. These can include odds boosts, rakeback on any losses, or even bonus bets when you refer a friend.
📅 How old do I need to be to bet on sports online in Colorado?
Under Colorado law, you’ll need to be over the age of 21 to be able to place a bet at a Colorado sportsbook. All
legal sports betting sites
will verify this by asking for a copy of your Social Security number and ID when you sign up.
