Since its launch in May 2020, sports betting has become a popular form of entertainment in the state of Colorado. With a variety of top-notch online sportsbooks to choose from, it’s no surprise that bettors are flocking to this market.
Colorado was quick to jump on board with the online sports betting trend, joining the industry in 2018. Today, it boasts a combination of both online and retail options, including some of the biggest names in the business.
While there hasn’t been much growth in Colorado’s sports betting market since its initial launch, this is likely due to the already high level of activity from online bettors. However, there are still some great sportsbooks available in remote areas for those who prefer a more traditional betting experience.
As the United States sports betting industry continues to thrive, Colorado has solidified its position as a major player in this market. With its successful implementation and ongoing popularity, it’s clear that the state will remain a leader in the industry for years to come
The History of Betting in Colorado
The official launch of sports betting across the state back in May 2020 saw rapid implementation, with many sportsbooks prepared to get the ball rolling from the very beginning.
Colorado’s journey into legal gambling is relatively recent, with 24/7 casino gambling becoming an option only in 2008 through Initiative 50. Following the legalization of sports betting in the broader U.S,, Colorado lawmakers began to explore the topic in 2019, culminating in a voter-driven decision some months later.
How Legal Betting in Colorado Became A Reality
Unlike many other states, the process of legalizing sports betting in Colorado was relatively quick and smooth. Most lawmakers were supportive and determined to make this industry a reality for the state.
In April 2019, House Bill 1237 was introduced as a means to legalize and regulate sports betting. By May, it had successfully passed through both chambers of the state legislature and was signed into law by the Governor.
Although sports betting wasn’t officially legal until November 2019 when Proposition DD was approved by voters, this process only took a few months. And just six months after legalization, sportsbooks were already up and running in Colorado.
Where to Place Bets in Colorado
Colorado’s sports betting scene has some unique aspects, particularly when it comes to retail sports betting. The legislation that legalized sports betting in the state limited in-person betting to three small towns located in the Rocky Mountains.
These areas also happen to be where all of the casino gambling is concentrated, which prevents bettors from having to travel long
- Ameristar Casino Black Hawk
- Billy’s Casino
- Colorado Grande
- Golden Mardi Gras Casino
- Grand Z Casino
- Isle of Capri Casino
- Johnny Nolon’s
- Johnny Z’s Casino
- Lady Luck Casino
- Monarch Casino Blackhawk
- Red Dolly Casino
- Saratoga Casino
- Sasquatch Casino
- The Lodge Casino at Black Hawk
- Wild Card Casino
- Wildwood Casino
- Z Casino
Colorado is home to nearly 30 casinos, and it’s possible that there could be just as many online sportsbooks operating in the state. However, the number of online sports betting operators has decreased from 26 to 19 in recent times.
Further changes are expected in the list of online sportsbooks in 2024, as new deals in the industry have resulted in new partnerships. As of the August 2023, here are the available online sportsbooks in Colorado:
- Barstool Sportsbook
- BetMGM Sportsbook
- BetRivers Sportsbook
- Caesars Sportsbook
- Circa Sports
- DraftKings Sportsbook
- FanDuel Sportsbook
- FOX Bet
- SBK Sportsbook
- SI Sportsbook
- Tipico Sportsbook
Key Regulations and Rules
The sports betting bill in Colorado was relatively limited, with few restrictions or rules included. The legal age for sports betting in the state is 21, which aligns with most other states in the US.
Regulation of the sports betting industry is overseen by both the Colorado Limited Gaming Control Commission and the Colorado Division of Gaming. These bodies allow sportsbooks to offer a variety of betting options and also permit them to set their own betting limits.
Compared to other states with legal sports betting, the tax rate on sports betting revenue in Colorado is low at just 10%. This allows for more flexibility in terms of the types of leagues and events that can be wagered on.
At the time of writing this article, esports betting is not permitted in Colorado, but this may change in the future.
Popular Sports and Events to Bet On in Colorado
Colorado is home to a diverse range of sports teams, making it an ideal destination for sports betting. With teams in each of the four major professional leagues, including the recent NBA champions, as well as popular college teams, there is no shortage of opportunities to bet on games and events.
The Denver Broncos, one of the most successful franchises in the NFL, have a loyal fan base and consistently drive sports betting action at Mile High Stadium. The Denver Nuggets, fresh off their 2023 NBA Finals win, are also a major draw for bettors thanks to their star player Nikola Jokic.
In addition to professional teams, college sports are also popular in Colorado. The Colorado Buffaloes, Colorado State Rams, and Air Force Falcons are all popular among bettors for both football and basketball.
Even lesser-known teams, such as the Colorado Avalanche in the NHL, bring in betting action thanks to their recent championship win. And while the Colorado Rockies may not have had as much success on the field, they still command a loyal fanbase and attract bettors to their games at Coors Field.