What You Should Know About Online Sportsbooks in Colorado
In May 2020, legal online sports betting launched in the state of Colorado, and the industry has taken off. Multiple reputable sportsbooks now operate sports betting Colorado services, many of which offer promotional bonuses for signing up and easy online betting. Newly minted laws governing gambling in the state also imparted to the state’s pre-existing 30+ casinos the ability to offer online sports betting through their facilities. Colorado was already home to well-known casinos such as the Ute Sky Casino Resort, the Ameristar Black Hawk and Gilpin Casinos. For horse racing, Bally’s Arapahoe Park Horse Track is well known, and the state boasts several professional sports teams supported by a loyal fan base. It was effortless for legal sports betting Colorado industries to jump in. As far as Colorado’s online sports betting is concerned, though, what do you need to know?
Legal Issues
Is sports betting legal in Colorado? When playing online sports betting in Colorado, you should be aware of the following legal considerations:
- There must be a Colorado-based casino involved in the provision of any sportsbook services or apps in this state, including online casino Colorado services.
- To participate, you must be at least 21 years old.
- There can be no esports wagering.
- Legal sports betting is only allowed at facilities located in Black Hawk, Central City, and Cripple Creek.
- Using a mobile device to register is permitted for Colorado sports betting apps.
- Sports bets have no upper limit.
- Sports wagering profits are taxed at a rate of 10%.
Sports betting in Colorado is regulated by the Colorado Limited Gaming Control Commission (LGCC), a new division within the Colorado Department of Revenue. The services operating in the state are given licenses, which must be renewed every two years, by the state.
Colorado Sports Overview
What sports can be bet on in Colorado after the legality of sports betting has been established? Several well-known professional sports teams call Colorado home, and all of them are fair game for wagering.
Denver Broncos
This American Football Conference West (AFC West) NFL football team represents the league and is based in Colorado. In American football, the team has a strong following and is well-known in the sport. The Broncos have competed in eight Super Bowls, winning three. Mile High’s Empower Field serves as the team’s home field.
Colorado Rockies
The Colorado Rockies are a member of Major League Baseball and play their home games at Coors Field in Denver, Colorado. As a member of the National League West division, the Colorado Rockies play in Major League Baseball as a mid-range team.
Denver Nuggets
Despite the fact that this NBA basketball team lacks the star power of some others, it still has a dedicated following. The NBA team, the Denver Nuggets play in the Western Conference Northwest Division, and call the Ball Arena their home.
Colorado Avalanche
In 1995, this NHL hockey team burst onto the scene, winning the Stanley Cup in their first season, but since then, they have struggled to gain a following. Along with the Denver Nuggets, they play their home games at Ball Arena, and compete in the National Hockey League’s Central Division.
Bonuses and Promotions
If you’ve made the decision to try your hand at sports betting in Colorado, and want to try playing online casino games, there are a few things to keep in mind when selecting a sportsbook. Make sure you know what features and accessibility you need, as well as a list of deal-breakers or issues that would cause you to rule out a sportsbook from consideration. The free trial is a great way to see which one has the features and user interface that you like best, so don’t hesitate to use it. Pay attention to any comments about the company’s customer service in the reviews left by previous customers. Think about the types of bets you want to place, the sports each one covers, and the banking options you’ll need before making a decision. In addition, some sportsbooks offer sign-up bonuses and promotions.
Here are a few examples:
- Caesar’s Sportsbook : $1,500 deposit match and beginner friendly.
- DraftKings Sportsbook : $1,050 risk free bet and a deposit bonus, with many ongoing promo codes.
- FanDuel Sportsbook : $1,000 risk free first bet.
- BetMGM : $1,000 risk free first bet.
Facts Roundup
Following the US Supreme Court’s repeal of the Professional and Amateur Sports Protection Act on May 14, 2018, each state is free to create its own regulations for legal sports betting. Over $13 million was wagered in Colorado during its first weekend as a legal business in the state. The first year in operation generated $6,636,138 in state taxes. Also, within the first year, there was a 61% increase in sports betting, with new subscribers signing up with sportsbooks within the state. At the moment, however, fantasy sports, online poker, other forms of iGaming and similar forms of gambling have not yet been affected by the legalization of sports betting, though these industries are expected to follow in the years to come.
