Colorado Online Sports Betting
Colorado sports betting launched on May 1, 2020, and thus far, has seen tremendous success in the online market since its launch.
Industry experts predicted that Colorado would become strong sports betting state, and that has indeed been the case. See some of the places you can bet on sports online in the Rocky Mountain State.
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Both retail and online sports betting is offered in Colorado, and there are several great options for each platform. Colorado online sports betting has been the most popular form of betting, but retail betting remains an option for those that prefer to bet in person.
Colorado has taken some progressive steps to help make the sports betting industry grow, and sportsbooks are given plenty of freedom. Even though Colorado has gotten off to a strong start, it has not even begun to scratch the surface of its potential.
In November 2020, Colorado posted a sports betting handle total of more than $230 million. That is the current record heading into 2021, but the December total is expected to be even larger.
Online wagers have accounted for more than 90 percent of all of the wagers placed in the state, and some of the top operators in the industry have launched in the state. Colorado sports betting will continue to grow in 2021 and beyond, and it will continue to be a leader in the Western portion of the United States.
Sports bettors in the state of Colorado won’t have any trouble finding a sportsbook because the state is loaded with a number of options. Both retail and online sportsbooks are available, and some very familiar and popular names have already started offering sports betting.
The entire Colorado retail sports betting is done in just three remote towns in the Rocky Mountains. These three towns house all of the legal casinos, and that is the only place to find a retail sportsbook.
Black Hawk, Central City, and Cripple Creek are the names of these towns, and you will find sportsbooks such as DraftKings, BetMGM, and FanDuel operating in these locations. These properties are the only ones available to obtain a master license, but they can partner with an online-only operator to provide even more options.
Colorado online sports betting has led the way since the industry has launched, and several more online sportsbooks are on the way. By the end of the first year, there were 13 online sports betting options in Colorado, including some big names like:
- Circa Sports
- DraftKings Sportsbook
- FanDuel Sportsbook
- William Hill
- Sky Ute
There are other online sportsbooks already live in the state and plenty more on the way.
Remote registration is allowed in Colorado, which has also helped get the industry off to such a great start. This means that bettors don’t ever have to travel or step foot in a retail casino or sportsbook before they can place a bet.
To sign up for online sports betting account in Colorado, you do have to physically be in the state. Location services must be enabled on your device, and your location has to be verified before you can make a wager.
The registration process takes only a few minutes, and all of the information that you provide is safe and secure. All of the banking processes can be completed from your phone or mobile device as well, which is another bonus.
Find more about online sports betting in different states
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CO Sports Betting Rules
Not only does the CO sports betting industry have plenty of sportsbook options, but there are some great betting markets available as well. Since Colorado has been able to attract both US and international sportsbook operators, such as the brand from Oceania, PlayUp, sporting events from around the world are featured.
Of course, the top professional sports in the United States are featured in Colorado, but popular international sports such as soccer and tennis are offered as well. Table tennis is also an extremely popular betting market in Colorado, but that is likely going to fade with time.
Another available betting market is collegiate sporting events, including games featuring in-state teams. Denver is home to a number of popular professional sports teams, but in-state colleges and universities attract plenty of bets as well.
When sports betting launched in Colorado, esports was another available betting market for sportsbooks to offer. There are only a handful of states that currently offer betting on esports, and Colorado is one of them.
Each operator gets to choose what betting markets they feature on their site, but they are all afforded plenty of terrific options. This is another reason that Colorado is expected to become one of the biggest sports betting markets in the US.
CO Sports Betting Regulations
Legalizing sports betting in Colorado was a two-step process that required some time. Lawmakers made it clear that they were in favor of legalizing sports betting, but the final decision was ultimately left up to the voters.
The Colorado legislature approved HB19-1327 in early 2019, and that allowed for a referendum to be placed on the ballots that November. Most industry and political experts expected the measure to easily pass, but it was a very slim margin.
Proposition DD was ultimately voted for by the residents of the state, giving the lawmakers the ability to put the final touches on a bill. Both the Colorado Limited Gaming Control Commission and the Colorado Divison of Gaming have oversight on sports betting.
There are three different sets of sports betting licenses available in Colorado, but only the current gaming properties are eligible to apply for a “Master license.” Sports betting revenue is subject to a 10% tax, which is higher than what the tax rate is for casino gaming.
The legal age to bet on sports in Colorado is 21 years of age.
Once voters in Colorado voted in favor of legalizing sports betting in November 2019, it did not take long for the industry to launch. Sportsbooks were ready to go by May 1, 2020, and it proved to be a highly successful launch.
Colorado has been able to attract some of the top online sportsbooks from the United States, but it also features some top international operators as well. With the growing trend continuing in Colorado, the CO sports betting landscape will continue to flourish.
There are a number of great sports betting markets in the state, and operators have plenty of freedom as to what they can offer. Allowing mobile registration is another big win for both bettors and sportsbooks.
The CO sports betting industry is expected to go over the $300 million in total handle at some point in 2021, but even bigger numbers will be reached beyond that. Colorado has established itself as a force in the sports betting industry, and it will become a tourist destination for sports bettors.