Sports betting in Colorado is allowed from May 1, 2020. Bookmakers have been given the opportunity to offer their online and offline services to players in Colorado. Thanks to this, the state became the 19th to legalize betting.
Since the field of sports betting in Colorado became legal, land-based bookmakers have been actively developing, online platforms and mobile applications have appeared. Thus, the Colorado Sports Betting law has given each of the state's 30-plus casinos the opportunity to offer online betting in the state through bookmakers.
The history of sports betting in Colorado is relatively short, mainly because the state legalized sports betting in May 2020. During the first year of legal betting in Colorado, 15 apps started accepting bets.
2019: Colorado attempts to legalize sports betting on the instructions of Member of the House of Representatives Alec Garnett, the majority leader in the House of Representatives. In 2019, Garnett issues a bill that passes through both chambers of the Colorado General Assembly on the last day of the session. According to the Colorado Taxpayer Bill of Rights, the issue of sports betting must be decided before voters before it becomes law. Colorado residents decide to allow casinos to offer online and offline sports betting.
2020: Sports betting in Colorado legalized in May 2020. Both online and retail bookmakers are opening their doors to players, although the COVID-19 pandemic creates additional difficulties for betting in land-based offices. Despite this, online betting continues to develop and by the end of the year there are 15 online bookmakers in Colorado.
2021: Sports betting continues to evolve. The number of bookmakers is almost doubling. As of December 2021, the total amount of legal bets in the state exceeds $ 5 billion.
2022: Sports betting in Colorado has surpassed the $6 billion mark in total bets since launching in May 2020 according to February 2022.
As we can see, sports betting in Colorado is growing from year to year. Rates in 2022 increased by 89.1% compared to the same period in 2021. Taxes paid during the same period amounted to almost $8 million, which is about twice as much as was paid during the same period. in 2021.
Bets on professional and college basketball combined accounted for more than half of the state's total bets in February. Professional basketball accounted for $155.6 million.
Betting on one game: any bet on the result of one game or sports event.
Express bet: A combination of several separate bets.
Teasers: a type of express bet in which each of the outcomes can be adjusted in favor of the bettor. The coupon should consist only of bets on totals or handicaps.
Bets more / less: the bookmaker predicts the statistics of the match, and players bet on whether the result of the game will be higher or lower than the predicted indicators.
Handicap bets: bets in which the chances of teams or players participating in the game are equalized by adding or subtracting certain points from each of them. Thus, the result of the game will be determined by the final scorer of the game after applying the handicap assigned to each participant.
Moneyline: a bet on the victory of a certain team.
Live bets: bets during the game.
Auxiliary bets: bets on events that do not affect the final outcome of the game.
The Colorado General Assembly approved sports betting in the state in May 2019, but the final decision was made in November. A voter-approved amendment to the constitution requires that any legislative vote on tax increases be sent to a vote for approval. HB 1327 was signed by Governor Jared Polis, approved by voters and became law. It includes the following basic principles:
• The state licenses betting shops that cooperate with casinos.
• Bets can be placed both online and in land-based bookmakers.
• The state taxes Colorado bookmakers at a rate of 10%.
The law establishes three types of licenses:
1. The main license is reserved for 33 casinos in the state.
2. Sports betting operator — the ground operator of the bookmaker office.
3. The operator of sports betting on the Internet — one online casino skin.
Each of Colorado's 33 casinos can apply for a basic license. There is an initial non-refundable fee of $10,000, followed by a two-year license fee of $125,000. The approved casino can then partner with a land-based bookmaker and an online bookmaker (or use the same partner for both) and use the same online platform.
Colorado is similar to many states in that it has one big city in which most of the sporting events take place. All of the major sports teams called Centennial State are based in and around Denver, and they are popular with bettors in Colorado.
MLS: Colorado Rapids
NFL: Denver Broncos
NBA: Denver Nuggets
MLB: Colorado Rockies
NHL: Colorado Avalanche
MLS: Colorado Rapids
There are also major college teams in Colorado. The Colorado Buffaloose football team is the most popular team in the state of Colorado. Other options such as motorsport, mixed martial arts and rugby are also available for betting. Table tennis became a popular betting sport at the height of the pandemic in 2020.
A large number of bookmakers legally operate in Colorado. This means that the competition is fierce, and there are a lot of offers for players. There are 40 different sports categories and over 1000 different types of bets that bookmakers are officially allowed to offer at launch.
In addition to the usual sports, now residents and visitors of Colorado can bet on esports. Bookmakers will be able to offer bets on eight unique leagues: Call of Duty, Counter-Strike: Global Offensive, DOTA2, E-Nascar, League of Legends, NBA2K, Overwatch and Rainbow Six.
Esports betting became dramatically popular during the COVID-19 pandemic, and Colorado joined the list along with Nevada and West Virginia among those who allowed betting on video games.
Along with esports, you can also find a number of sports that not everyone knows about.
These include:
• Pesapollo: The national sport of Finland, which has some similarities with baseball. It is played with a bat, ball and stands, but the pitcher stands next to the batter and delivers the ball vertically. The base track is zigzag shaped in this dynamic stick and ball game.
• Floorball: This sport, also known as bandy, was invented in Sweden in the 1960s and is best known in the Nordic countries. It is a form of floor hockey played indoors with five players and a goalkeeper on each team.
• Futsal: a variant of indoor football. This is a five-on-five game (including goalie) that was invented in Uruguay in the 1930s and was originally intended to be played on a basketball court. Another important difference from traditional football is the absence of the "out of the game" rule.
There is also an extensive list of over 1000 approved bet types.
Another type of betting is betting on golf. This allows the player to make a bet on the golfer's victory. Conditions may vary depending on the bookmaker.
Registered users can participate in sports betting promotions offered by many online operators in Colorado. Bettors receive deposit bonuses for replenishing their account and placing bets. Risk-free bets compensate for losing bets. Players can also take advantage of bonuses in the form of free bets in popular games.
• Deposit bonuses are a reward for the amount that players deposit at a time. Bookmakers know that players who deposit money will use them, so it makes sense to encourage large deposits. Deposit bonuses are accrued at a rate expressed as a percentage. 20% deposit bonus, the bookmaker gives the player 20% of his deposit in the form of a bonus.
• Deposit bonuses often require certain conditions to be met. Players must use the money they deposit before receiving their bonuses. Thus, bookmakers guarantee that new players will place bets.
• Risk-free bets reimburse players for the amount of loss on the first bet. The announced amount is often the maximum bet that players can get in full. Thus, a risk-free bet of $500 often means that players can lose $500 on their first bet and then get that money back
• No deposit bonuses. These are small bonuses that players receive when registering. This is not free money that players can withdraw and use at their discretion. Players must use these bonuses to bet in their bookmakers
• Current event bonuses. These are small bonuses that are tied to specific events.
Receiving bonuses, as a rule, does not cause difficulties for players. First, players need to find an online bookmaker's app where they want to place bets. After that, you need to go through the registration procedure. The process of creating accounts for all bookmakers is about the same. It is worth noting that when registering, bookmakers require part or all of the player's social security number. This is part of the identity verification phase that all licensed bookmakers in Colorado adhere to.
After the player has registered, he needs to fulfill certain conditions to receive a welcome bonus.
Risk-free bets also have conditions. They often depend on the first bid. You should familiarize yourself with the bonus terms before placing bets.
As soon as the conditions are met, the bonus will be credited to the player's account.
All the best bookmakers try to make this process simple. Registering a new user usually involves several steps. Regardless of which bookmaker you choose, it will look something like this:
1. First select a unique username and password.
2. Then enter the email address.
3. Next, the new player must provide personal information, including full name and date of birth.
4. Then you should specify the address and, possibly, a few digits from the SSN, which are used to confirm the identity.
5. Confirm that the player accepts the terms and conditions of the bookmaker, as well as confirm that the information provided is reliable.
As a rule, this is all, and usually it only takes a couple of minutes.
10 facts about sports betting in Colorado
1. Colorado legalized sports betting in November 2019.
2. Legalization required voter approval in a referendum in accordance with the Colorado Taxpayer Bill of Rights.
3. Betting in Colorado was launched in online and offline format in May 2020.
4. All sports betting apps must be linked to casinos located in Colorado.
5. Players must be over 21 years old to bet on sports in the state.
6. The main actors in sports — players, referees, coaches, etc. — are not legally entitled to bet on their sport.
7. You can bet on table tennis and corn nola, but not on Oscars or other awards.
8. Colorado does not allow betting on school sports or any other events in which the majority of participants are under the age of 18.
9. With the exception of betting shops in tribal casinos, all retail betting shops in Colorado are available in one of three cities — Black Hawk, Central City and Cripple Creek.
10. Colorado bookmakers accepted bets worth more than $5 billion in the first 20 months of operation.
Daily online fantasy sports competitions are legal in Colorado. In many states, these games are illegal. Colorado legalized DFS in 2016. The bill establishes the licensing and taxation process for large DFS sites. Small sites (less than 7,500 users) only require registration.
The bill regulating daily fantasy betting sets out rules to protect Colorado players. These include provisions that make websites responsible for the protection of personal data.
Anyone over the age of 18 can legally participate in daily fantasy sports competitions for real money in Colorado.
When it comes to banking transactions, players tend to rely on the security, variety and ease of use of deposit and withdrawal methods. Previously, when offshore, unregulated sites were popular, payouts were long. The bettors did not know if the money would be credited to the account and when it would happen.
Now that players in Colorado have access to a huge selection of legal bookmakers, users will be able to deposit and withdraw funds using a number of secure and fast payment methods.
Mobile Deposits: Available throughout Colorado.
Most Colorado casinos are hidden in mountain towns. The average player will not be able to go to Cripple Creek (population: about 1000 people), Black Hawk (population: about 100 people) or Southern Utah to bet on sports. That's why mobile betting is so important to the legal betting industry in Colorado.
Options for depositing and withdrawing funds in the Colorado online bookmaker
When a player registers with a legal Colorado bookmaker, he will have to use the services of a bank. Replenishment of the account is the first step to success, if the bets turn out to be winning, you will also need an easy way to withdraw the funds won.
Topping up your account will not only open the door for betting on real money, but will also allow you to take advantage of welcome bonuses that will top up your personal account. These bonuses are always a good way to increase winnings, but first the money must be credited to the player's account. Here are the available ways to top up your account in Colorado:
Credit/debit cards. When you are ready to make a deposit to an online bookmaker, credit and debit cards are a great option. As in most retail outlets, VISA and Mastercard are the most common among bookmakers. In some cases, you can use other cards.
Prepaid cards. Many bookmakers offer prepaid Play+ cards as an option for both deposit and withdrawal. These prepaid cards are an effective way to deposit and withdraw funds from one card. You will receive a physical card when you register and top up your account. This physical card can be used as a debit card at most ATMs so that you can easily receive cash winnings from your account at the bookmaker. In addition, the Play+ service also acts as an online wallet, which means that you can make deposits directly from your mobile phone or computer. You can also make a transfer from the card to the bank to withdraw funds.
Prepaid cards and online wallets also have an additional bonus in the form of additional authentication. If you use a credit card or bank transfer, this is a direct link between the bookmaker and your credit card or bank account. All these sites are safe and regulated by Colorado law, but the presence of an additional factor to protect your personal information, such as a Play+ card or an electronic wallet, will not be superfluous.
E-wallets, also known as online wallets, are accounts that allow you to deposit and withdraw funds without having to enter your bank or card details every time.
Having an additional authentication layer is a reliable way to further protect your identity and information, but another advantage of these methods is speed. Transfers will be faster with an electronic wallet than with a bank transfer or other method.
PayPal is one of the most famous and widely used online wallets in the world. PayPal service is praised for fast transactions, versatility and security.
If you don't have an account yet, it's very easy to register with PayPal. Just enter your name, email address, and other personal information and create an account. As soon as you link your bank card or checking account to PayPal, you will be able to use the site in the same way as any other online wallet.
With PayPal, you can top up your balance or use the balance for payments. You can also use PayPal as a form of two-factor authentication when giving bookmakers access to your bank card. This is one of the most preferred ways to top up your account for sports betting in Colorado or withdraw funds.
Skrill is convenient because it is similar to PayPal, only created specifically for betting sites. Skrill users will have access to a feature set almost identical to PayPal's feature set, with additional benefits:
• No transaction fee
• VIP program for regular users
Yes, not only is there no commission charged with Skrill transactions, but you can also get VIP privileges just for using your wallet. Higher transaction limits and VIP hosting services are the advantages of a privileged user of the Skrill online wallet.
Bank transfers (eCheck, ACH)
If you need a direct connection with your bank or you are not interested in using third-party resources, you can make transfers to and from your online betting shop using bank transfers or electronic checks (ACH).
All major banks and many smaller institutions usually participate in online banking transfers, including: Bank of America, Capital One, Chase, PNC, HSBC and others.
Some banks do not allow transactions from gambling providers. Before proceeding, contact your bank. It is important to note that bank transfers are often charged fees. The processing time is usually about 3 working days.
Personal banking services. Colorado bookmakers offer several ways to make a deposit in person. Whether it's using a third-party processor or visiting a retail casino.
PayNearMe. If you want to make a deposit, but you don't have access to the above methods, or you just want to get rid of the change, visit the PayNearMe branch in Colorado to make a deposit.
The process is quite simple. You make a deposit online through your chosen bookmaker, and PayNearMe issues a barcode. Then go to your local PayNearMe provider. The cashier will scan your code and call you, as with a standard purchase. Everything is ready. The funds will appear on your account at the bookmaker's office within a few minutes. PayNearMe is available at 7-Eleven, Family Dollar, and CVS stores throughout Colorado.
VanillaDirect is very similar to PayNearMe and is available in many retail stores throughout Colorado. Walgreens, Dollar General and other outlets allow users to bring VanillaDirect barcodes to the checkout and thus replenish the account of an online bookmaker.
Cash at the casino. Using online bookmakers allows registered players to deposit funds and win money from anywhere in Colorado. You will need a mobile device that connects to the Internet. However, if you find yourself in a Colorado casino and want to deposit cash or access your winnings, you will still be able to do so. Go to the casino, provide your account information and top up your account.
With so many legal bookmakers in Colorado, there is no reason to visit illegal offshore sites. The sports betting industry is controlled by the Gambling Division of the Colorado Department of Revenue — Specialized Business Group. The regulatory body maintains an updated list of all online bookmakers who are allowed to work in the state.
Colorado's Online Bookmakers and Regulators Ensure Safe Sports betting
With a minimum tax of 10%, Colorado encourages players to use legal sports betting sites rather than illegal offshore sites.
Now residents and visitors of Colorado can bet on any sport of their choice, as long as they adhere to the state's rules on sports betting. They can try their luck at regular casinos or place bets through their mobile devices.
It's very easy to start betting on sports online in Colorado. Here's how to do it:
1. Choose a bookmaker. There are a lot of bookmakers in Colorado, so you can choose the best lines. Before you start, make sure that you have chosen a legal bookmaker with a license to work in Colorado. Also, choose a bookmaker who promises to meet all your sports betting needs.
2. Register and make a deposit. After choosing a bookmaker, you need to register before making a deposit. The best bookmakers are those that offer a fast registration process and a variety of safe and reliable banking options. After you stop at a certain bookmaker, log in and fill out the registration form. After that, top up your online sports betting account.
3. Confirm your location. If you use a desktop computer, most Colorado sports bookmakers will make you download location tracking software. Colorado uses GeoComply, a tracking software. If you are using a phone, you must allow the app to track your location without any additional software.
Place bets and collect your winnings. Now that you have registered an account and there are funds on it, immediately start placing bets. There are many sporting events in Colorado that you can bet on. If you are lucky, collect your winnings, preferably using the same deposit method to avoid unnecessary conversion fees.
When choosing a bookmaker, the following factors should be taken into account:
• Availability of bonuses and promotions, especially for new customers.
• Security: it is worth giving preference only to legal betting operators.
• User-friendly and intuitive website.
• Various ways to top up your account and withdraw winnings.
• Variety of bets.
• The value of the coefficients.
Note that accounts for online sports betting in Colorado cannot be used outside of the state. Colorado's sports betting laws allow players to bet on almost all sporting events, with the exception of school sports.
Bettors have an almost unlimited number of options for online betting. Instead of the limited selection of events, leagues and competitions offered by traditional betting systems that can be found in ordinary gambling establishments, online bookmakers offer a diverse selection of events and leagues. A bookmaker can offer to bet on almost any competition anywhere in the world, from sports and major league leagues to more specialized activities such as politics and entertainment. Many bookmakers offer competitive odds in multiple markets in addition to a variety of betting options.
The main reason why many players bet online is convenience. If you are looking for a quick and easy way to bet, there is no better option than online sports betting. Such sites not only have lower fees than their terrestrial counterparts, but they also offer round-the-clock customer support, which makes them very convenient. You can place bets whenever it's convenient for you, and you don't need to arrange trips to local bookmakers.
Availability of online resources. Sports betting is one of the most exciting and fastest growing forms of entertainment when it comes to sports and other major events. As a result, a lot of online bookmakers appear on the network. Your main task is to choose the best online bookmaker.
A safe gaming environment. It is quite natural to worry about your safety when making a bet. Do not worry, online bookmakers provide reliable protection of their customers' personal data.
Despite the fact that Colorado, with a population of only about 5.8 million people, is one of the smallest states for sports betting, the state enjoys great interest from bookmakers.
There are several dozen bookmakers on the market, so there is no shortage of various betting options. If you are a resident or currently reside in Colorado, you can register to participate in mobile sports betting and place your first bet at any of the bookmakers available in the state.
