Colorado Sports Betting: Quick Facts & Information

Below are the key details for sportsbooks and betting in Colorado, plus team-focused rules bettors actually care about.

Note: Sportsbook counts and banking options can change. Always confirm availability inside your chosen app.

While a few operators have exited in recent years, the market remains strong—fueled by new platforms, upgraded app features, and an active retail sportsbook presence across the state. Whether you’re betting on the Broncos, Nuggets, Avalanche, or Rockies, Colorado sportsbooks deliver a first-class wagering experience.

But how do you know which Colorado sportsbook to choose? Are they all regulated, and do they all offer the same odds? Choosing the right betting app involves licensing, user experience, and overall wins. That's why our experts have combed through the Centennial state's online bookmakers and narrowed down some of the best options. 

Best sports betting sites in Colorado

BetMGM - Best Colorado sportsbook for welcome offers

BetMGM Rewards, daily promotions, and live streaming are only some of the many perks of this bookmaker licensed in Colorado. They have a dedicated online sports betting app that's secure and offers instant deposits, fast withdrawals, and competitive odds. 

Also, you can get a welcome offer of a $1,500 in bonus bets, one of the most generous offers for sports bettors. Sign up today and enjoy a first bet offer of $1,500 paid back if their first bet doesn't win. This means you can be secure in sports betting and reap the benefits with less risk.

Claim $1,500 welcome offer

BetMGM Colorado also has a stronghold in terms of regular promotions. Colorado sports bettors can enjoy state-specific promotions, including refer-a-friend bonuses, Lion's Boost bonuses, early payouts, and much more. BetMGM is one of Colorado players' best and most rewarding options, with an easy-to-navigate desktop site and highly rated app.

Pros & Cons

• Generous welcome offer
• Regular promotions
• Early payout offers
• Live streaming
• Some odds are better than others

Features and Benefits

BetMGM’s sportsbook stands out with live streaming on select games, available after your first deposit. The platform also offers live betting and early cashout, letting you lock in winnings before the final whistle.

Whether on desktop or mobile, navigation is quick—just choose your sport (from the NHL and NCAA to international table tennis), tap the odds, and place your bet.

BetMGM's app offers more features, like secure and easy deposits and withdrawals. We recommend using the app for Android or iPhone while on the go for easy and safe sports betting. Having an account also makes it easy to take advantage of BetMGM Rewards.

Fanatics - Best Colorado sports betting app usability 

Fanatics Sportsbook Colorado used to be known only for its sports memorabilia, whether you wanted to buy your favorite Colorado Rockies or Colorado Avalanche jersey. Now, it's begun its quest to rise to the ranks of Colorado sports online betting sites. From college football to the big leagues, sports wagering has never been easier thanks to its intuitive and streamlined app.

Go to Fanatics Sportsbook

Not only do they offer sports betting and memorabilia, but now they also offer FanCash, which combines the two. Every wager counts toward FanCash, which can then be used for purchases.

Daily rewards, prop boosts, and surges make Fanatics Sportsbook Colorado stand out. It's highly competitive and perfect for beginners and serious bettors alike.

Pros & Cons

• Streamlined app
• Unique and personalized home screen
• FanCash rewards for sports gear
• Withdrawal tracker
• No desktop site
• FanCash based on odds

Features and Benefits

Fanatics Sportsbook Colorado is also unique in creating a unique home screen for users. Known as the "Discover" section, this is the part of the app that has personalized sports wagering options based on teams and recent bets. Of all the Colorado sportsbooks, Fanatics Sportsbook is the only one with a highly personalized interface.

There's also their FanCash bonus store, where you can use 10% of your earned payback winnings to purchase everything from a Denver Broncos jersey to other memorabilia. When you're all done and want to withdraw, keeping track using the Fanatics Sportsbook withdrawal tracker is easy.

FanDuel Sportsbook - Best Co Sportsbook for Offers

FanDuel has become a household name in sports betting and daily fantasy sports. It was one of the first to obtain a sports betting license in Colorado since the state legalized sportsbooks. Colorado bettors still trust it today, and it is consistently one of the most trusted sportsbooks alongside DraftKings.

FanDuel is easy to navigate both on mobile app and desktop. High rollers and serious players can even sign up to be a part of their VIP program. Other players can gain FanDuel points and perks like daily odds boosts. Colorado players also get a $150 welcome bonus with a $5 deposit.

Players also enjoy FanDuel's incredibly competitive odds compared to other online sportsbook apps. Choosing between parlays, props, spreads, same-game parlays, and more is easy. Golf, soccer, and even NASCAR are just some of the many sports available to bet on at FanDuel.

Pros & Cons

• Easy sign-up process
• Easily navigate mobile app
• Fast withdrawals and deposits
• Live betting and streaming
• A loft of promotions
• No cryptocurrency methods

Features and Benefits

One of the things players love about FanDuel Colorado is the prominent bet slip on the right side of the desktop site. This allows you to see and adjust your bets easily. The app is also easy to navigate. Simply tap the sport you want to bet on, and you're off to the races!

FanDuel's key features also include lightning-fast withdrawals and deposits. You can use methods like debit and credit cards, Venmo, Paypal, and FanDuel Prepaid + card. You can then receive your earnings in as little as 2 hours.

FanDuel is committed to safety and security on its desktops and apps. It also lets players set limits and offers a minimum of $1. Easily accessible, fun, and always encouraging responsible gaming, it's no wonder FanDuel's sports betting revenue continues to increase year after year.

DraftKings - Best Betting Site in Colorado for Competitive Odds

DraftKings Sportsbook ranks as the fourth most-downloaded betting app in the App Store — an impressive achievement. Launched in 2012 and entering Colorado in 2020, the brand is recognized worldwide for its reliability and innovation in the sports betting industry.

Both the app and desktop site offer one of the most comprehensive betting selections in the state. You can wager on straightforward markets like moneylines and totals or dive into advanced options such as same-game parlays, player props, NBA futures, squares, and live betting. Navigation is simple — choose your favorite sport, tap the odds, and place your bet.

New Colorado users can take advantage of two welcome offers: bet and get $200 in bonus bets with a $5 deposit, or claim up to $1,000 in DK Dollars.

Daily odds boosts, early cash-out, and fast withdrawals make the experience even more rewarding. Combined with its intuitive interface and vast betting options, DraftKings stands out as a top choice for Colorado bettors looking for performance and perks.

Pros & Cons

• Intuitive and simple app
• Tons of ways to bet on sports
• Live betting options
• Fast and easy withdrawal options
• Limited live streaming
• Promotions are limited for existing users

Features and Benefits

One of DraftKings's most exciting features is its updated mobile app. CO bettors can easily access their favorite sports, including the NFL, NBA, and MLB. Once on the app, choose the bet you want by tapping on spreads, money lines, or other types of bets like futures and parlays.

Once you're ready to cash out, purchase your bet and select the withdrawal option. Most withdrawals are processed in as little as 12 hours, with debit and online banking being the fastest. It doesn't get much easier than that.

DraftKings Colorado also prides itself on its app security. With secure technology, you can rest assured your deposits and withdrawals are safe and secure. Want to limit deposits and set time limits? You can also do this through DraftKings' safe gambling initiatives.

Caesars Sportsbook - Best Colorado Sportsbook App for Rewards

Caesars Sportsbook is one of Colorado's most well-known online sports betting apps and is now nationwide. Of all online sportsbooks in the state, Caesars Sportsbook is perhaps the most rewarding for players. That's because it's the only online sportsbook operator that lets players rack up Caesar's reward points whether your bet wins or loses.

Players can use points for destinations in Vegas and nationwide. These rewards also let you move up in tier and take advantage of their VIP rewards program.

Caesars rewards program aren't the only benefits of this app. Colorado players have access to a generous welcome offer of $1,000 back in bonus bets if their first cash bet loses. Regular odds boost and live betting makes placing bets on your favorite sports teams and college basketball betting easier and more exciting.

Pros & Cons

• Competitive rewards
• Great welcome offer of $1,000 in bonus bets
• Daily odds and profit boosts
• Wide range of payment options
• Promotions are a bit limited
• Limited sports betting market

Features and Benefits

Caesars Sportsbook has several features that set it apart from the competition. It is mainly one of the easiest and most user-friendly apps and desktop sites today. Your favorite sports include football, soccer, auto racing, horse racing, and UFC and MMA.

Recent updates to the app include improved search functionality. Instead of getting lost among the dozens of ways to bet on each sport, you can easily navigate and place bets on the app and desktop.

Withdrawals are fast, with Venmo, Visa, and e-wallet options processed in as little as 24 hours! Processed withdrawals are, of course, safe and secure. With all these features, it's no wonder many consider Caesars Sportsbook the best sports betting app Colorado offers.

bet365 - Best CO sports betting app with brand reputation  

bet365 it's an elite sportsbook worldwide. Their website on desktop is super easy to navigate, with top live betting that never fails to stream. In addition to cashing out your winnings early, you can expect some of the best odds and fast withdrawals.

Sports fans in Colorado can access a welcome offer of $150 bonus bets with a $5 deposit. Regular promotions like Tip Off Tuesdays with bonus bets and parlay boosts also exist. You can also enjoy betting on a wide range of sports. From basketball to NHL, NFL, NBA, and more, Bet365 is home to a strong Colorado sports betting market.

Pros & Cons

• Excellent selection of online sports betting markets
• Bet and get a bonus offer
• Live betting
• Optimized desktop and mobile site
• Slow loading app at times
• Limited gaming at times

Features and Benefits

One of the best things about bet365 is that it is regulated and licensed by the Colorado Division of Gaming. This incredibly safe and secure website is highly regarded for its high payouts and commitment to fast withdrawals. You can expect withdrawals to be processed within 24 hours and a wide range of payment methods.

Payment options for withdrawal include debit cards, e-wallets like PayPal and Skrill, and bank transfers. For those who need to limit their gaming, bet365 is known for setting limits after wins. But this is also a good thing for users who need to slow down on their gambling. You can set deposit and time limits, too. bet365 Colorado offers users a balanced experience, a friendly interface, and features like live betting and early payouts, making it one of the best Colorado sports betting sites today.

Sporttrade - Best Colorado sportsbook apps for cash back

Sporttrade is a highly unique sports betting platform in Colorado. Instead of placing a sports wager, you can treat Sporttrade like a betting exchange. While other sports betting exchanges are now nationwide, Sporttrade was one of the first.

Sporttrade also allows users to access a welcome bonus in Colorado. You can get $300 cash back, allowing players to extend their bankroll.

Pros & Cons

• Unique sports betting exchange
• Cashback promotions
• Live exchanges with excellent odds
• Easy-to-navigate app
• Not traditional sports betting
• Limited Colorado sportsbook promos

Features and Benefits

This secure platform is best known for its top-tier odds. Different markets compete to give you the best odds so they can sell their share, putting the power in your hands.

In addition to being a bit different, some other perks include live betting optimized at your fingertips. This is one of the fastest sports betting apps in the state. Combined with the backing of Nasdaq and Comcast, this is also one of the most secure apps on the market today.

Colorado Sports Betting Overview & Legal Framework

Colorado’s legal sports betting market began with the approval of Proposition DD in November 2019, paving the way for mobile and retail wagering. The law took effect in May 2020, with FanDuel and DraftKings among the first operators licensed by the Colorado Division of Gaming. Sports betting revenue is taxed at 4.40% at the state level, with proceeds funding water projects across the state, and is also subject to federal taxation.

Since launch, the market has seen operators come and go. Popular apps like Betsafe, ClutchBet, and Betfred have exited, while innovative platforms such as Bettrade have entered with unique exchange-style betting. Today, Colorado bettors can choose from a mix of mobile apps and in-person sportsbooks at casinos and other venues.

State regulations require bettors to be at least 21 years old, and wagers on single college players are prohibited. Beyond that, the market supports a full range of betting options—including live betting—making it easy for fans to wager from anywhere within state lines using geolocation-enabled devices.

Retail Sportsbooks in Colorado

Retail sports betting in Colorado became legal in May 2020, allowing all 33 casinos in the state to apply for licenses to offer both in-person and mobile sports wagering. Despite this broad eligibility, only 9 retail sportsbooks are currently open for in-person betting as of August 2025.

Most of these retail sportsbooks are located in Black Hawk, Colorado’s gaming hub. While mobile sportsbooks offer unmatched convenience and accessibility, retail sports betting provides a traditional experience for bettors who prefer placing wagers in a live casino environment.

Current Retail Sportsbooks in Colorado:

• Ameristar Casino Black Hawk

• Bally's Black Hawk North Casino

• Bally's Black Hawk West Casino

• Double Eagle

• Grand Z Casino

• Horseshoe Black Hawk Casino Hotel

• Lady Luck Casino Black Hawk

• Monarch Casino Resort Spa

• Z Casino

There’s no set deadline for applying for a retail sports betting license in Colorado, so this list may expand over time. While legal online sportsbooks offer safer access from anywhere—especially useful during winter road conditions—retail sportsbooks continue to draw those who enjoy the social aspect of betting in person.

Safety Considerations in CO Sportsbooks

Colorado sportsbooks are regulated and licensed by the Colorado Department of Revenue's Division of Gaming. They offer a safety net to ensure that any issues, such as withheld payouts, customer complaints, and fair betting odds, are resolved.

Part of responsible gaming is ensuring you only use secure online sportsbooks licensed by the state when playing. Unfortunately, offshore and illegal sports betting sites may try to lure you with attractive bonuses, but they can put your personal and financial information at risk.

Before making your first deposit, it's essential to read reviews and research the app or website's license and security information. Legitimate sportsbooks will have clear terms and conditions, responsible gaming policies, and customer support for any inquiries or concerns. They'll also use secure encryption or SSL, which keeps your data safe when depositing, withdrawing, and placing bets.

In addition to online security, it's crucial to gamble responsibly and not let betting consume your life. Set limits on how much you're willing to spend and stick to a budget. Most sportsbooks offer resources such as self-exclusion options or deposit limits if you need help.

How Sports Betting Impacts the Colorado Economy

Since legalizing sports betting in May 2020, Colorado has seen rapid market growth and tangible benefits to state-funded water projects. In 2024, the state reached a cumulative betting handle of $6.18 billion, generating $475 million in operator revenue and nearly $32 million in tax revenue, much of which supports the Colorado Water Plan implementation .

Monthly figures from May 2025 alone show approximately $495 million wagered, resulting in $37 million in revenue and nearly $3.6 million in taxes collected by the state . A significant portion of that revenue is earmarked for water-related projects—including conservation, agriculture support, and infrastructure.

The growing popularity of both mobile and in-person betting, especially on basketball and football, continues to contribute to this upward trend. These revenues reinforce the original intent of Proposition DD—to fund essential state programs through legalized sports betting.

How Geolocation Works in Colorado Sports Betting

Only certain states allow legal sports betting, and each has its own regulations. Colorado legalized sports betting in 2019 and launched its first legal sportsbooks in May 2020. One of the key aspects of online sports betting is geolocation technology, which verifies a user's location before allowing them to place bets.

Geolocation and Betting Legality

Geolocation must be used to determine if a player is located within Colorado while placing their bets. Setting up an account and pretending you're in Colorado is simple enough. However, current residents and tourists must physically be within state lines to be able actually to place a bet, hence the use of geolocation.

How to Set Up Geolocation on Devices

You can set up geolocation on both your mobile app and desktop site. To do so, log in to your Sportsbook account. When prompted to give permission to your device's location, click yes. Once confirmed, the sportsbook will use GPS technology to verify your location.

You can do this manually by navigating to your "Settings" and selecting "Location." Depending on your system, you must manually tog the sportsbook to give it full location access.

Privacy and Security in Geolocation

Fortunately, privacy and security are paramount for sportsbooks. Many reputable sportsbooks like DraftKings set themselves apart by ensuring private information stays safe. To review privacy policies, navigate to the "Terms and Conditions" section of the sportsbook site. Here, you'll find more information on how the sportsbook handles your data and ensures transparency and security.

Taxation on Sports Betting Winnings in Colorado

All sports betting winnings in Colorado are subject to state and federal taxes. This includes any bets placed online or in person at a casino or retail sportsbook. Taxes will be withheld from your winnings by the sportsbook, but bettors need to keep track of their winnings and report them on their tax returns.

When to Report a Bonus Bet Win?

You must constantly report sports betting winnings on your tax return for the year they were earned. If you placed a winning bet in December but didn't receive your payout until January of the following year, you still have to report it on that year's tax return.

In addition, you can also report losses to offset your winnings. Reporting losses means your tax burden is lower at the end of the year.

Calculating Taxes on Winnings

Federal taxes will vary by income level, but state taxes in Colorado are capped at a standard rate of 4.4%. However, sportsbooks usually withhold 24% of your winnings for tax purposes, which you can then be refunded with your tax return.

The 24% is held for amounts usually over $5,000. Amounts won over $600 are reported in your Form W2-G that the sportsbook gives you. Check the form for any withheld taxes.

Documentation for Tax Filing

Most reputable sportsbooks will give you a form W2-G for winnings over $600 or odds of 300:1. When filing your taxes, use the information in this form, including the total number of winnings and withheld taxes. You can also use your app's records of deposits and withdrawals as supporting documentation.

If you do not receive a W2-G form, keep track of your betting activity with your records. Make an estimated payment based on your federal and state income tax rate to minimize the tax burden at the end of the year.

Key Regulatory Bodies Governing Colorado Sports Betting

Regulation is key to ensuring fairness in gambling and sports betting. Here are some key players to watch in Colorado sports betting.

Colorado Division of Gaming

The Colorado Department of Revenue's Division of Gaming oversees sports betting licenses and regulations. They approve applications for permits for both in-person and online sports betting retailers.

They also track earnings and ensure they are properly funneled to the state. Any issues with possible illegal gambling in the state should be reported to the Division of Gaming for further investigation.

Federal Oversight in Sports Betting

Federal bodies like the Financial Crimes Enforcement Network (FinCEN) ensure sports betting and gambling outlets aren't used to launder money. Government bodies like FinCEN also monitor gambling platforms for signs of illegal activities and ensure betting operators report these activities immediately.

The Internal Revenue Service (IRS) requires that all gambling winnings be reported and the proper tax paid. While the IRS has no direct power over sports betting platforms like FinCEN does, it can audit players and sports operators directly, ensuring proper taxes are paid.

Consumer Protection Programs

Consumer protection programs like the Better Business Bureau (BBB) monitor sports betting sites for illegal or fraudulent activities. They also handle consumer complaints and concerns, ensuring operators treat players fairly.

The Colorado Division of Gaming is also an important resource for customer complaints. They have the ultimate power to revoke licenses for operators with gross complaints of unfairness, rigged outcomes, or other illegal activity.

Types of  Colorado sportsbook promos

One of the best things to look out for in the sports betting space is the types of bonuses and promotions offered. Let's look at common bonuses you can expect to find at most sports betting platforms.

Welcome Bonuses for New Bettors

New users can enjoy many welcome bonuses to attract them to different platforms. Some bonuses offer safe bets where the sportsbook will refund your first bet in case you lose. Others provide a percentage match on your initial deposit, known as a deposit match, doubling or even tripling your betting funds.

Bonus bets are often paid out over time and come with wagering requirements. But they're a great way to take advantage of free bets and maximize your initial deposit.

No-Deposit and Risk-Free Bets

No-deposit bonuses allow you to enjoy bonus bets without putting a large deposit down. They are usually given to new players. Risk-free bets are also common. If your first bet loses, these bets give you a bonus, with sites like BetMGM offering a whopping $1,500 risk-free bonus bet.

Loyalty and VIP Programs

Some sportsbooks continue to reward customers for using their specific platform via VIP points and loyalty programs. Caesars Sportsbooks is one of the most popular, with players earning VIP points for wagering that can be used at in-person destinations. Fanatics Sportsbooks is another example, which offers FanCash for sports gear for every wager placed.

Banking Options for Colorado Sportsbooks

Depositing and withdrawing your funds is an important part of the online sports betting. Luckily, most Colorado sportsbooks offer a wide range of banking options, making it easy for bettors to deposit and withdraw money from their accounts.

Deposit Methods

Most deposit methods are available instantly for players. Some of the most common include:

• Debit/credit cards: Minimum usually $5, instant processing, no fees
• PayPal: Minimum usually $5, instant processing, no fees
• Prepaid cards: Minimum usually $5, instant processing, no fees
• ACH/e-check: The minimum is usually $10, and it can take 3-5 days to process and clear from your bank account. No fees

Withdrawal Methods

Withdrawing funds is just as important as depositing them. Some of the most common withdrawal methods include:

• Debit/credit cards: The minimum is usually $10, and it can take 1-2 business days to process and clear in your bank account. There are no fees.
• PayPal: The minimum is usually $10, typically instant processing, with no fees.
• Check by mail: The minimum is usually higher, but it takes 5-10 business days to receive a check and cash. There are no fees unless expedited.
• Bank transfer: The minimum is usually higher, but it can take 3-5 business days to process and clear in your bank account. There are no fees.

Recommended Payment Options

Most players will find that sportsbook operators' fees are minimal. But there are still solid payment options to consider. The most common and reliable sportsbook withdrawal and deposit payment method is a debit card. Debit cards offer a secure, convenient, and fast way to access funds or fund your account.

For those who value privacy, consider an e-wallet like PayPal or Skrill or a prepaid card like Play+. These can be funded separately and then used to deposit and withdraw. Play+ and other prepaid cards might charge a small fee of $10, but it's worth it to ensure your privacy.

How to Choose the Best Sportsbook in Colorado

Choosing the best Colorado sportsbook is as easy as finding the one that best suits your needs and preferences. With a variety of options available, it's important to consider factors such as odds, promotions, ease of use, and security.

Look for a sportsbook with competitive odds that will give you the best chance at winning. The best Colorado betting sites are renowned for odds that favor the player and not the vig.

Check for ongoing or special promotions as well. Many sportsbooks offer welcome bonuses or ongoing promotions that can add value to your betting experience and extend your bankroll.

You'll also want to choose an app or website that is easy to navigate and place bets on. With betting legal in Colorado, different apps have different setups that are easier to navigate, allow parlays to be set up, compare odds, and more.

Lastly, ensure the sportsbook has proper licenses and encryption methods to protect you. While legal issues with online sports betting don't arise in Colorado, ensuring your app has a license is still important.

Colorado Sports Teams You Can Bet On

Colorado’s sportsbooks offer markets on a wide range of local teams, from professional franchises to NCAA programs. Below are the most popular teams to wager on, along with the betting markets and seasonal angles that attract the most action.

Denver Broncos

NFL betting on the Broncos covers point spreads, moneylines, player props (passing yards, touchdowns), and live in-game wagers. Futures markets—such as AFC West winner or season win totals—are popular before and during the season. Prime-time games, divisional matchups against the Chiefs, Chargers, and Raiders, and the NFL Playoffs are peak betting periods.

Denver Nuggets

NBA wagers on the Nuggets include spreads, totals (over/under), player performance props (points, rebounds, assists), and futures like Western Conference champion or NBA Finals winner. Bettors often target overs at home due to Denver’s pace and altitude. The NBA Playoffs and marquee matchups against top-tier teams drive heavy betting volume.

Colorado Rockies

MLB markets for the Rockies feature moneylines, run lines, team totals, player props (home runs, RBIs, strikeouts), and series betting. Coors Field’s high-scoring reputation makes over bets especially popular. Opening Day, rivalry series, and late-season wildcard pushes are key betting periods.

Colorado Avalanche

Avalanche betting options include puck lines, moneylines, totals, and props for goals, assists, or goalie saves. Stanley Cup futures and playoff series bets spike during the postseason. Bettors pay close attention to home-ice advantage and back-to-back game situations in the regular season.

Colorado Buffaloes

For NCAA football and basketball, Buffaloes bets include spreads, totals, moneylines, and conference futures. The start of the NCAA football season, rivalry games, and March Madness create strong seasonal opportunities. Prop betting is limited per NCAA rules, so most wagers focus on team outcomes.

Colorado State Rams

Rams fans can bet spreads, totals, and moneylines in both football and basketball markets. Conference games in the Mountain West often present underdog value. College basketball betting peaks during conference tournaments and March Madness.

Air Force Falcons

Air Force football and basketball markets include spreads, totals, and moneylines. Service academy football games have a historic trend toward the under, making totals a key market. Bowl games and NCAA tournaments create spikes in betting interest.

Understanding the Basics of Sports Betting 

What is a Legal Online Sportsbook?

Sports betting sites, or sportsbooks, are online platforms where users can bet on various sporting events and even matches from the UFC and MMA. Sportsbooks offer a range of betting options, from traditional moneyline bets to more complex prop bets, futures, and sports exchanges.

Colorado sportsbook operators are also slightly different from daily fantasy sports (DFS) sites like DraftKings and FanDuel. DFS sites became popular because DFS was classed as a game of skill, while betting on sports games is still widely considered a form of gambling.

Types of Bets Available in CO Bookmakers

There are tons of different types of bets available. These sports wagers offer Colorado sports bettors more ways to win and interact with apps. Here are a few different bet types you'll find with online sportsbooks.

1. Moneyline: A moneyline is a bet on which team will win the game.
    
2. Spread betting: A spread bet means that your chosen team must win by a certain amount or lose by less than a certain amount.
    
3. Over/under: With this bet, you predict whether the total points scored by both teams will be over or under a certain number.
    
4. Parlays: Parlays are a combination of two or more bets, and you can increase your profits if all the bets in the parlay (such as single or multi-game parlays) are correct.
    
5. Futures betting: This type of bet involves predicting the outcome of a future event, such as which team will win the Super Bowl or which player will win MVP.
    
6. Prop bets: Speaking of players, prop bets allow you to bet on whether or not your favorite player will score a certain number of points, make certain plays, and other odds related to players.
    
7. Live betting: Live betting means placing bets after a game starts and changing them as the game progresses.

Popular Sports Covered in Colorado Sportsbooks

Different sportsbook apps offer popular sports betting markets. From Colorado college sports teams like the Colorado Buffaloes to major league sports in Colorado, here are some of the many sports betting options you'll find:

• NFL
• NBA
• NCAA College sports
• MLB
• NHL
• Soccer
• Golf
• Tennis
• Esports
• MMA and UFC
• Boxing
• Badminton
• Horse Racing
• Other regional or international sports options

How to Bet on Sports in Colorado

Once you choose a sports betting app that works for you, it's easy to start online betting. Here are some steps to follow.

1. Choose a mobile sports betting app with valuable welcome offers, promotions, and a good user experience.
    
2. Create an account and verify your identity. You can use your ID, social security number, or driver's license.
    
3. Make a deposit using multiple options, such as debit/credit cards, PayPal, online bank transfer, and more.
    
4. Explore different sports betting markets and compare odds to find the best ones for you.
    
5. Place your bets by selecting the desired games and entering your wager amount.
    
6. Use your bet slip to track your bets and monitor any changes in odds or potential outcomes through live updates on the app. Now is the perfect time to take advantage of live betting and early cashouts.
    
7. If you win, withdraw your winnings using secure methods available on the app.

Playing Smart in Colorado Sports Betting Sites

While betting strategies ultimately rely primarily on chance, they still require some skill to get the most bang for your buck. Bankroll management is vital, so set a budget and determine how much you're willing to spend (and lose) when depositing funds.

Take advantage of bonus bets and promotional offers for existing and new players. In addition, don't forget to shop around for high-limit platforms with the best odds. While the vig (or vigorish) varies by sportsbook, it's essentially the cut they take for facilitating your bets. The lower the vig, the more money you'll keep from a successful bet.

Another way to maximize returns is to research and understand different types of bets, such as spread betting or prop bets. These can provide higher payouts if you're willing to take more risk. Keep track of trends and statistics in the sports world to inform your betting decisions and use them for more skilled bets like sports trading.

Understanding Odds in Sports Betting

Odds in sports betting are vastly different than in casino gaming. Whereas odds in gambling are primarily reliant on luck, odds in sports betting are determined by players, teams, and other factors. Odds in sports betting mainly reward players based on the underdog team.

The less likely your chosen team will win, and they do win, the more money you make. Let's take a look at how these odds apply in sports betting.

Types of Odds Formats

Several different odd formats denote which team is the favorite and which is the underdog. American odds are shown using a "+" or "-" symbol. A "+" signifies the underdog team, while a "-" represents the favorite. For instance, a -110 team is the favorite, while a +125 team is the underdog.

These odd American symbols make determining the favorite and exact payouts easy. But decimals and fractions are also used. Fractions can easily be converted into decimals to determine the final payout. For instance, if an odd is 9/4, divide 9 into 4, and you'll get your decimal odds of 2.25 or +225. For decimal odds, the underdog is always shown as a number greater than 2, while favorites stay under 2.

How Odds Reflect Probability

Odds aren't just made-up numbers. On the contrary, these odds also reflect the probability of a team winning an event. For underdog teams, the formula for calculating odds is 100 / (Odds + 100), while for the favorite teams, the calculation is Odds / (Odds + 100) x 100. Let's say a favorite team has a -210 odds. You'll use 210/(210+100) x 100 and get 64.77, or 64.77% likely that they'll win.

These odds reflect the likelihood of a bet paying out. A favorite team will have higher odds and a lower payout if they win. On the other hand, an underdog team will have lower odds but a higher payout should they win. This information makes it easy to see why some sports bettors choose a high payout vs. a safe bet.

Calculating Potential Winnings

Winnings are easy to calculate using American odds. For instance, +200 means a team is an underdog, and you'll win $200 for every $100 wagered. But -151, for example, shows a team is a favorite, and you'll need to wager $150 to win $100.

Don't worry; you don't need to spend $100 per bet. This is just a placeholder, and you can still place minimum bets as low as $1. Just divide your potential winnings accordingly by your stake.

How to Read a Bet Slip

Bet slips are a flash to the past and a staple in sports betting. When betting online, you'll usually see your bet slip displayed on the right-hand side of your desktop or as a separate tab on your mobile app.

Components of a Bet Slip

There are several components to a bet slip that you should know about before placing your bets:

• Selection: This is where you'll see the team, player, and outcome you're betting on. You can usually select multiple options and place them in a parlay (a single-game parlay).
• Stake/Amount: You'll see how much you wagered on your bet.
• Odds: The odds for each selection will be displayed here. Colorado sportsbooks usually use American formats.
• Potential Payout: This section will show your potential payout if your selections win. It's calculated by multiplying your stake by the odds for each selection.

Understanding Potential Payout

Potential payouts are easily calculated using a bet slip. The bet slip calculates these winnings by multiplying your stake with the odds for each selection. For example, if you place a $100 bet on a -240 odds team, your potential payout will be $100 if your chosen team wins, meaning your total profit will be $100+$100. Check your bet slip for continued updates and the latest calculated winnings.

Cash-Out Options on a Bet Slip

Early payout options are precious for players who don't want to lose their winnings if their team blows the lead. Sportsbooks that offer early payout options allow you to access some of your wins before the game ends and update your wins in real time. This is also known as live betting and will be updated on your bet slip.

The Impact of Responsible Gambling Programs

Sports betting is supposed to be a fun way to enjoy your favorite sports and possibly make some extra money. However, it's important to remember that gambling can also become addictive and cause financial and personal problems.

That's why many sports betting operators have implemented responsible gambling programs to help their customers stay in control of their betting. These programs offer deposit limits, self-exclusion options, and the ability to set time limits on betting sessions. These are valuable tools for limiting gambling issues and potentially saving players thousands of dollars in lost funds and bets.

Self-Exclusion Options

Self-exclusion is perhaps the most extremely responsible gambling measure. It is an effective way for players to take a step back and take a break from betting irresponsibly. Players can voluntarily self-exclude for days, weeks, months, or even years. During this period, they won't be able to log in or place bets with their sportsbook.

Deposit and Time Limits

Session time limits and deposit limits encourage players to limit the amount of betting they spend and the time they spend on their sports betting app. These time and deposit limits can easily be set in a user's preferences. Deposit limits can be set daily, weekly, or per transaction.

Resources for Problem Gambling

Colorado bettors have access to national problem gambling resources, such as the 1-800-GAMBLER hotline, available 24 hours a day, 7 days a week. The Colorado Division of Gaming also provides online local and national resources for players and the chance to self-exclude through the Department of Revenue. 

Colorado Sports Betting FAQ

Below, you'll check the answers for the most common questions related to online Colorado sportsbooks. 

How many sportsbooks are legal in Colorado? 

Currently, 13 online sportsbooks operate legally in Colorado, including big names like DraftKings, FanDuel, and BetMGM.

Does Denver have sportsbooks?

Denver is within Colorado, meaning you can use Colorado sportsbooks like Caesars and BetRivers within the city and state.

Is bet365 legal in Colorado?

Yes, bet365 is one of the current legal betting sites Colorado offers. Check with the Colorado Division of Gaming for changes in licensing.

Is it more challenging to play sports in Colorado?

No, different sports betting apps have different odds. However, this doesn't mean it's harder to win in Colorado than in other states.

How old do you need to be to bet on sports in Colorado?

Players must be 21 or older and physically located within the state borders to place bets on a sports betting app.

Are winnings from sports betting taxed in Colorado?

Yes, Colorado currently has an income tax statewide with a cap of 4.40% tax rate. You also need to pay federal income tax on your winnings.

What are the best sportsbooks available in CO for beginners?

FanDuel, DraftKings, and ESPN Bet are high-quality apps with accessible interfaces perfect for beginning Colorado bettors.

Can I place bets on college sports?

You can bet on NCAA college football, college basketball spreads, and money lines. However, you cannot bet on props for specific college players in Colorado.

Is live betting available on Colorado sportsbooks?

Yes, several current legal sportsbooks in Colorado offer live betting options, allowing bettors to place bets on games currently being played.

Which Colorado sportsbooks have the best promos?

Caesars, BetMGM, and Bet365 constantly offer promotions for new and existing players. Check for welcome offers and VIP rewards for even more promotions.

How do I withdraw my winnings?

Most sportsbooks offer multiple withdrawal options, such as online banking, PayPal, ACH transfers, or debit cards. Select your withdrawal method, wait for it to process between 12 and 24 hours, and then wait for it to appear in your account.

Are offshore CO sportsbooks safe?

Unfortunately, US laws do not regulate offshore sportsbooks, and they often operate illegally. This makes it difficult to ensure the safety of your personal information and funds. It is always safest to bet with legal, regulated sportsbooks in Colorado.

How do I contact customer support?

Every sportsbook has a customer support team to assist with issues or questions: most offer live chat, email, and phone support options. Contact information is typically found in the app or the website's "Help" section.

Beyond Colorado Sportsbooks 

Exploring the Best Colorado Sportsbooks is a great starting point, but other resources can help elevate your betting experience. From fast-paying casinos to legal insights and alternative sportsbooks, the guides below offer added context and value for anyone wagering in the Centennial State.

Best Gambling Websites

If you're branching out beyond sports betting, this Best Gambling Websites guide covers trusted platforms for poker, slots, table games, and more—all while maintaining safe banking and solid reputations.

Fast Payout Casinos

Want to withdraw your winnings without waiting days? This Fast Payout Casinos guide lists platforms that specialize in same-day or instant payouts through crypto, e-wallets, or streamlined verification.

Top-rated Sportsbooks

Not sure which operator truly stands out? This Best Sportsbook breakdown compares the top-rated brands across bonuses, odds quality, app design, and betting markets.

Real Online Pokies

Slots fans in Colorado will enjoy this guide to Real Online Pokies, showcasing platforms where you can play pokies for actual cash wins with simple gameplay and mobile access.

Is bet365 Legal in Colorado?

Yes, bet365 is legal in Colorado. 

Is Online Gambling Legal In Colorado?

Before placing any bet or spinning a slot, it’s essential to know the laws. The Is Online Gambling Legal In Colorado guide offers a clear look at what’s allowed statewide, including sportsbook and casino legality, age requirements, and regulation details.

Selecting the Best Colorado Sportsbook

The best sportsbooks, like DraftKings, BetMGM, FanDuel and bet365, combine transparency, fast withdrawals, variable markets and competitive odds with fun perks like VIP rewards points.

When betting on Colorado sports, it's crucial also to gamble responsibly. Fortunately, licensed platforms enforced by the Colorado Division of Gaming ensure that deposits and withdrawals stay secure and private.

You can also set deposit and time limits, as well as self-exclude. All in all, sites like those that were reviewed in this content feature some of the best bonuses and welcome offers. Explore these apps and the others we've mentioned to get the most out of your Colorado sports betting experience.

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Disclaimer: These sites are for people 18+ only. Online gambling comes with many risks. Players should only gamble with money that they can afford to lose, and make sure they are behaving responsibly when visiting an online casino. Gambling laws and policies vary from region to region. Some sites mentioned in this review may not be accessible in your area, depending on laws and restrictions. Always do your due diligence and check your local gambling policies before visiting any of these sites. It is always better to be safe than sorry. 

If you suspect you’re having a gambling problem, seek help immediately by contacting the National Gambling Helpline at 1-800-522-4700.

For free online gambling addiction resources, visit these organizations:

• https://www.gamblersanonymous.org/ 
• https://www.ncpgambling.org/ 
• https://www.gamblingtherapy.org/ 

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