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Colorado Sports Betting Highlights
Coloradans Vote on Amendment 77 Regarding State Gaming RulesNovember 3, 2020
Colorado voters will cast a vote on Amendment 77, aka the Allow Voters in Central City, Black Hawk, and Cripple Creek to Expand Game Types and Single Bets Initiative. If it passes, the $100 state bet limit will be lifted and casinos will be able to add new games in addition to poker, blackjack, slot machines, craps, and roulette.
Colorado Rockies Announce Sports Betting Partnership with DraftKingsSeptember 24, 2020
William Hill and Betfred Launch New Sportsbooks in IllinoisSeptember 9, 2020
University of Colorado Announces a Deal with PointsBetSeptember 8, 2020
How Colorado Sports Betting Compares
We took a look at Colorado's sports betting bill--mobile availability, sportsbook options, available markets, and more. Here's how the state lines up vs. the US.
It's easy for potential bettors to sign up online and there's a low barrier to entry, so plenty of sportsbooks are launching in Colorado. There are no overly restrictive constraints on bet types, like collegiate athletics.
With plenty of beloved pro teams and local activity to bet on, the state will be an attraction for bettors. Due to the ease of mobile betting, we wouldn't be surprised to have commuters travel over state borders to bet in Colorado with sports returning from their pandemic hiatuses.
Mobile Betting Options: A
You can bet on your phone, from anywhere in Colorado. That's as good as it gets in the United States right now.
Whether you’re in a trendy Denver sports bar or hiking in Rocky Mountain National Park, if you’ve got cell service, you’re set.
Colorado got right what so many other states have gotten wrong -- fully online registrations and deposits. That allows customers to sign up for a variety of sportsbooks with ease and allows players from out of state to drive across the border and place bets similar to New Jersey.
For those in need of a geographic refresher, that means: sports fans from Wyoming, Nebraska, Kansas, Oklahoma, and New Mexico may visit Colorado on any given game day.
Colorado's casinos aren't concentrated in populous areas, either. So in-person registrations would have damaged market accessibility in a big way.
Fair Pricing: A
Colorado did everything it could to create an environment that would offer fair pricing, though without most sports live, we haven't seen odds for everything yet.
Check back with us on this in the Fall as we’ve seen major sports come back.
Colorado can't offer everything an offshore sportsbook can, but among legal states, there's no one better than Colorado. You can bet on e-sports, college teams in the state (go Pioneers!), and so much more.
Colorado's low barrier to entry for sportsbooks will allow some great products to enter the market in the near future, too, like Circa and Westgate.
Colorado's Sports Betting Legalization Process
In November 2019, Coloradans voted to legalize sports betting within The Centennial State. A unique feature of the Colorado bill was an environmental angle: Proposition DD coupled sports betting legalization with a 10% sports gambling tax to support the state’s water conservation initiatives.
Despite confidence from state leadership and environmental advocates for the bill, it passed at a tighter margin than anticipated at 51.41% to 48.59%. Still, a win is a win for bettors in CO! Sportsbooks officially started accepting bets in Colorado on May 1, 2020, with DraftKings, FanDuel, BetMGM, and BetRivers leading the way-although the much-anticipated launch happened without major sports or casinos open and no major sports live due to the pandemic.
The best news for local sports bettors is that the state will become just the sixth so far to offer full mobile betting, which has accounted for more than 80% of the sports betting handle in New Jersey, the most successful state to launch in this new era of legal wagering.
Pre-sports betting, Colorado casinos pulled in $842.1 million in 2018, a record for the state.
Operators are jumping at the bit to get in on the action, as it's already been reported that PointsBet, SuperBook USA, and Circa -- the latter two of which have only had presences in Nevada thus far -- are expanding into Colorado, as well.
Sports betting will also be legal at Colorado's physical casinos in Central City, Black Hawk, and Cripple Creek; the latter two are close to big cities in Denver and Colorado Springs, respectively.
Like many states, Colorado's economy needs financial mending from COVID-19 setbacks. Sports betting looks to be a route Colorado can lean into, particularly as a major sports resume, to recover.
In the meantime, the Division of Gaming licensing office has adapted processes to enable licensing services for prospective operators and vendors.
Colorado followed the New Jersey model with a low barrier to entry for online operators, which will create a sustainable environment for sportsbooks and bettors. That allowed two premier Vegas sportsbooks, Circa Sports and Westgate, to expand beyond Nevada for the first time. That's all excellent. What impresses us most about Colorado is its willingness to stray away from legacy gambling laws in its quest to create a great sports betting environment. They're leading the way for a better betting legal & logistical framework. For example, Colorado's single-bet limit in casinos is $100. There were talks that might be the case for sports betting, which would have severely limited the upside for sportsbook revenue. Thankfully, lawmakers decided against it and allowed casinos to set their own betting limits for sports.
Colorado's only shortfall is its lack of online casino and poker. New Jersey has seen huge boosts in the handle and taxable revenue, especially during the COVID-19 pandemic, through its online casinos and poker. Colorado missed out there this time around, but we're optimistic they'll refine to even better policy in years to come.
Colorado Sports Betting FAQ
Who Regulates Legal Sports Betting in Colorado?
How Old Do I Have to Be to Bet on Sports in Colorado?
What Colorado Sports Betting Rules Should I Know?
When will sports betting be legal in Colorado?
Is it legal to bet on college sports in Colorado?
Can I place a bet online in Colorado?
Do I need to be a Colorado resident to be able to bet on sports online?
Can I bet on my phone in Colorado?
Where can you gamble in Colorado?
Is Bovada legal in Colorado?
How Do Payouts Work?
What Sports Can I Bet On?
Can I Deposit With a Credit Card?
- Prepaid card
- Direct deposit from bank account
- Digital wallet (PayPal, Skrill, etc.)
- Cash or check
Do I Have to Pay Taxes on Sports Betting Winnings?
Colorado sportsbook operators will pay a 10% tax that will be effectively invisible to the consumer. But your sports betting winnings are taxable. An operator will send you a W-2G form if you win more than $600 with that sportsbook. You can write off gambling losses as a tax deduction, but only if you also report money won as taxable income.
You also need to itemize your deductions — you can’t claim any gambling losses with a standard deduction. The amount of gambling losses you can deduct can’t exceed the winnings you report as income. With $2,000 in winnings but $4,000 in losses, your deduction is limited to $2,000. You can’t write off the other $2,000 you lost.
Sports Betting for Beginners
If you’re new to sports betting in CO, you likely have questions: How much should you be betting? Where should you be betting on the Nuggets win totals? How do you find the best odds for a Broncos game? Every sport and bet type comes with different nuances.
Our betting education hub can help you make savvier decisions come game time.
Sports Betting Glossary
Sports betting comes with its own language and terminology -- favorites and underdogs, spreads and money lines, over/unders and props, juice and vig and so much more. It can all be a bit overwhelming and intimidating for newer betting enthusiasts, so be sure to consult our sports betting glossary for detailed definitions of all the main terms.
Don't worry: the online sportsbooks we recommend will also help define these terms within their product to make everything easier for you to understand, too.
Sports Betting Mistakes to Avoid
Whether you’re betting on the Rapids game totals or Rockies futures, sports betting isn't easy. It’s important to stay disciplined and not overextend yourself. There will always be ups and downs, but if you stay true to our nine mistakes to avoid, your sports betting experience will be a much more enjoyable one.
Colorado’s Department of Revenue, Gaming Division offers tools to help bettors manage behavior responsibly as well.
Colorado Sports Betting Timeline
Colorado Teams to Bet on
College sports fans are excited for sports to fully return because there's plenty of action to be had. Here's more on the top CFB programs and rivalries in CO:
University of Colorado Boulder, CO
- The CU Buffs has a longstanding college football rivalry with the Nebraska Cornhuskers. It remains to see when this standoff will happen due to COVID upending traditional game calendars. If it happens this year or next, we expect plenty of action.
Colorado State University Fort Collins, CO
- CSU vs CU. Colorado State has a fierce in-state rivalry with the CU Buffs-two big schools in the state pitted against each other. This annual head to head is known as the Centennial Cup and will certainly attract CO bettor attention.
- CSU vs UW. Colorado State also faces Wyoming Cowboys for the “Bronze Boot” every year, a rivalry referred to as the “Border War.”
Air Force Academy Air Force Academy, CO
- Another in-state rivalry college football fans are excited for each year is Air Force Falcons vs. Colorado State.
University of Northern Colorado Greeley, CO
Division I Basketball & Football
Division Basketball Only
Pro Sports Teams
Colorado has five professional sports teams, so you can bet via mobile and attend live pro games in person:
NFL Betting in Colorado
- The Denver Broncos (NFL team): The three-time Super Bowl champion Broncos' home turf at Mile High Stadium in Denver, Colorado. The stadium is nicknamed Mile High due to the city's elevation of 5,280 feet. Ready to put cash on the Broncos? We've got a great set of NFL betting tips to check out first.
NBA Betting in Colorado
- The Denver Nuggets (NBA team): The Nuggets play each season at the Pepsi Center in Denver. A Nuggets fan? Catch our latest NBA coverage to get insight into the competition before betting.
NHL Betting in Colorado
- The Colorado Avalanche (NHL team): The Avalanche share the Pepsi Center with The Nuggets. Before putting money down on the Avalance though, we recommend reading our thorough how to bet on hockey guide. The NHL is a softer market to bet on, but that doesn't mean it's an easy win.
MLB Betting in Colorado
- The Colorado Rockies (MLB team): The Rockies play at Coors Field in downtown Denver. New to betting baseball in CO? We've got a great set of profitability tips for you.
MLS Betting in Colorado
- The Colorado Rapids (MLS team): The Rapids play at DICK'S Sporting Goods Park in Commerce City, Colorado. Check out these soccer betting tips to help bet responsibly on the Rapids.
For any level of a sports fan, Colorado is a great place to be and bet.
Most of Colorado's sports betting events center around their professional teams. Recently, there was even a major move of a partnership between sportsbooks & leagues in CO. The Denver Broncos have taken strategic steps to partner with BetMGM.
Their home stadium will have exclusive BetMGM Lounge and VIP travel packages, making Broncos games a premier sports bettor destination.
More Reading on Colorado
For more on CO’s Laws and Regulations for Gaming, see here, or check out the Limited Gaming Act If you want to dive into the deep legal details: here is Colorado House Bill 1327, which was a precursor to Proposition DD, that narrowly passed to the surprise of many locals.
The CDC Gaming Reports publishes regular gaming news & analysis, which has a wealth of content on the history of Colorado Sports, both aggregated and produced.
Discover top Denver sports bars to watch your action unfold. After COVID-19 settles down and sports return full force if you want to catch a game at a local sports bar while following the action on your phone—Thrillist has the article for you. Check out The Most Fun Sports Bars in (and Around) Denver.
Tap into the CO sports fan community with DNVR Membership. To connect with other passionate CO sports fans, you can join the DNVR family. DNVR has exclusive subscription local journalism, game analytics, and even locker room audio—all rich content for a sports bettor. They even throw watch parties. Want in? Learn more about DNVR.