Sports betting in Colorado has emerged as one of the most successful and competitive markets in the United States since its launch in 2020. With both online and retail sportsbooks available, bettors in Colorado enjoy a wide range of sports wagering options. The state’s open and operator-friendly framework has contributed to its rapid growth and popularity among sports enthusiasts.
Key Points at a Glance
- Launch Date: May 1, 2020
- Legal Betting Age: 21+
- Who Oversees It: Colorado Division of Gaming
- Where to Bet: Online sportsbooks, mobile apps, and retail locations
- Number of Operators: 20+ licensed online sportsbooks
- Tax Rate: 10% on sportsbook revenue
- Notable Features: One of the most competitive markets with a wide range of betting options
A Brief History of Sports Betting in Colorado
Colorado voters approved sports betting through Proposition DD in November 2019, legalizing retail and online sports wagering. The measure officially launched on May 1, 2020, despite significant challenges posed by the COVID-19 pandemic.
The state’s regulatory framework established a competitive and operator-friendly market. Colorado allows multiple operators to obtain licenses, leading to a highly diverse market with major national and regional sportsbooks.
Since its launch, Colorado has grown into a top-performing state for sports betting, generating consistent tax revenue and offering bettors a broad range of sports, including professional, college, and niche leagues.
Where Can You Bet on Sports in Colorado?
Sports betting in Colorado is available through three primary channels:
- Online Sportsbooks: Colorado licenses a wide range of operators, giving bettors access to leading platforms such as:
- DraftKings
- FanDuel
- BetMGM
- Caesars Sportsbook
- PointsBet
Online sportsbooks provide convenient access to sports betting through websites and mobile apps.
- Mobile Betting Apps: Mobile apps are the preferred method for most Colorado bettors, offering features like live betting, cash-out options, and personalized betting experiences.
- Retail Sportsbooks: Physical sportsbooks are located in casinos throughout Colorado, primarily in towns like Black Hawk, Central City, and Cripple Creek. Popular retail locations include:
- Ameristar Casino (Black Hawk)
- Monarch Casino Resort Spa (Black Hawk)
- Wildwood Casino (Cripple Creek)
Sports Betting Rules and Restrictions
While Colorado offers one of the most flexible sports betting markets, there are still a few rules and restrictions to keep in mind:
- College Betting: Betting on college sports is permitted, including games involving in-state teams like the University of Colorado. However, player props on college athletes are prohibited.
- Betting Age: You must be 21 years or older to place a wager.
- Location Verification: Bettors must be physically located in Colorado to place bets online or via mobile apps. Geolocation technology ensures compliance.
- Prohibited Betting Types: Betting on high school sports and non-sporting events (e.g., award shows) is prohibited.
Taxes and Revenue
Colorado imposes a 10% tax rate on sportsbook revenue. A significant portion of the tax revenue is allocated to the state’s Water Plan, which funds critical water conservation and management projects.
Since its launch, sports betting has generated millions of dollars in tax revenue for Colorado, showcasing the market’s economic impact on the state.
The Future of Sports Betting in Colorado
Colorado’s sports betting market continues to thrive, with new operators entering the state and innovative betting features emerging. The market’s competitive nature ensures bettors have access to promotions, competitive odds, and diverse betting options.
As the industry evolves, Colorado will likely remain a leader in sports betting, driven by strong regulations, consumer demand, and operator investment.
How to Start Betting on Sports in Colorado
- Choose a Licensed Sportsbook: Select a trusted operator like DraftKings, FanDuel, or BetMGM.
- Register and Verify: Sign up online or via a mobile app, providing the necessary identification to verify your age and location.
- Deposit Funds: Use credit cards, e-wallets, or bank transfers to fund your account.
- Place Your Bet: Browse the available markets, select your wager, and confirm your bet.
- Withdraw Winnings: Securely cash out your winnings through the sportsbook’s payment options.
Conclusion
Colorado has quickly become one of the most vibrant and competitive sports betting markets in the United States. With a wide variety of operators, user-friendly platforms, and robust regulations, sports bettors in Colorado enjoy an unmatched experience. The state’s focus on accessibility and innovation ensures that Colorado will remain a key player in the future of sports betting.
Colorado offers a seamless and exciting sports betting environment for everyone, whether you prefer retail sportsbooks, online platforms, or mobile betting apps.