Is Sports betting legal in Colorado?
Alright, let's talk about the elephant in the room: is sports betting legal in Colorado? The short answer is yes, it is! In May of 2020, Colorado officially legalized sports betting, paving the way for online sports betting in Colorado.
But of course, with any form of gambling, there are rules and regulations to follow. In Colorado, sports betting is regulated by the Colorado Division of Gaming, which oversees all aspects of the state's gambling industry. Any sportsbook or online platform that wants to offer sports betting in Colorado must obtain a gaming license from the Division of Gaming.
Gambling Age in Colorado
And what about the gambling laws in Colorado? Well, the minimum gambling age in Colorado is 21 years old, which is the same age required for sports betting. So if you're under 21, unfortunately, sports betting is off-limits for you.
But for those of you who are of legal age, online sports betting in Colorado is a great option for adding some extra excitement to your favorite sports. Just make sure to always gamble responsibly and never bet more than you can afford to lose.
History of Legalization of Sports Betting in Colorado
The road to legalizing sports betting and online sports betting in Colorado was a long and winding one, but we're here to break it down for you.
| In 1991, Colorado legalized limited stakes gambling, allowing for small-scale casino games like blackjack and poker. |
| In 2008, the state expanded gambling to include casino games with higher limits and electronic gaming machines. |
| In 2019, a bill to legalize sports betting was introduced to the Colorado legislature. The bill passed and was signed into law by Governor Jared Polis, legalizing sports betting in the state. |
| In May of 2020, sports betting officially launched in Colorado. The launch was originally planned for the start of the MLB season in March, but was delayed due to the COVID-19 pandemic. |
| In addition to retail sportsbooks, online sports betting in Colorado also became legal in May of 2020. This was a major win for sports fans, as online betting allows for greater convenience and access to a wider range of betting options. |
| The Division of Gaming, which oversees Colorado's gambling industry, began accepting applications for sports betting licenses in November of 2019. As of 2024, there are over a dozen online sportsbooks licensed in Colorado, with more expected to come in the future. |
All in all, the legalization of sports betting in Colorado has been a game-changer for sports fans in the state. With a robust online betting market and a wide variety of sports and betting options available, the future of sports betting in Colorado looks bright.
Taxes on your Winnings
Alright, let's talk taxes. The big question is, do you have to pay taxes on your winnings from online sports betting in Colorado? And the answer is, it depends.
First of all, it's important to note that any gambling winnings are considered taxable income by the IRS. This includes sports betting winnings, whether they're from a physical sportsbook or an online platform. So technically, yes, you are supposed to report your sports betting winnings on your tax return.
However, the good news is that in Colorado, there is no state tax on gambling winnings. That means you only have to worry about federal taxes, which are based on your income bracket. The exact amount of tax you'll owe will depend on how much you won and your other sources of income.
It's also worth noting that if you win a large amount of money from online sports betting in Colorado, the sportsbook or platform may send you a W-2G form, which reports your winnings to the IRS. This is usually only required for winnings over a certain threshold, like $600 or more, but it's always a good idea to keep track of your own winnings and report them accurately on your tax return.
So, in short, while you do technically have to pay federal taxes on your sports betting winnings in Colorado, there is no state tax to worry about.
Top Colorado Online Sports Betting Sites
Alright, sports fans, are you ready to get in on the action? We've got the inside scoop on the top Colorado online sportsbooks, and we're ready to share it with you.
Whether you're a seasoned sports bettor or a total newbie, these Colorado online sportsbooks are the cream of the crop. We're talking big names like BetMGM Colorado, Bet365 Colorado, Caesars Sportsbook Colorado, FanDuel Colorado, and BetRivers Colorado, just to name a few.
Each of these Colorado sportsbooks offers a wide range of sports and betting options, so no matter what you're into, you're sure to find something you love.
BetMGM Colorado
With a sleek and easy-to-use interface, BetMGM Colorado is a top choice for sports bettors of all levels. They also offer a great selection of betting options, including live in-game betting and early cash-out options.
Bet365 Colorado
As one of the largest and most respected online sportsbooks in the world, Bet365 Colorado brings its expertise and reputation to the Colorado market. They offer a wide range of betting options, including a fantastic live streaming service that allows you to watch the action unfold in real-time.
Caesars Sportsbook Colorado
With a wide variety of promotions and bonuses, Caesars Sportsbook Colorado is a great choice for bettors looking to get the most bang for their buck. They also offer a simple and user-friendly interface that makes placing bets a breeze.
FanDuel Colorado
FanDuel is a household name in the world of online sports betting, and for good reason. Their platform is packed with innovative features, like their "Same Game Parlay" option that allows you to combine multiple bets into one, and their "Cash Out" feature that lets you settle your bets early.
BetRivers Colorado
BetRivers Colorado offers a great selection of betting options, with a focus on live in-game betting that allows you to place bets as the game unfolds. They also offer a rewards program that gives you points for every bet you place, which can be redeemed for bonuses and other perks.
Best Colorado Online Sports Betting Apps
Are you always on the go but don't want to miss out on the action? Well, you're in luck, because we've got the scoop on the best sports betting apps in Colorado!
These Colorado sports betting apps are the perfect solution for bettors who want to place their bets from anywhere, at any time. We're talking big names like DraftKings Colorado, ColoradoWynnBET, Barstool Sportsbook Colorado, Betfred Colorado, and Tipico Colorado, each offering its own unique features and betting options.
From football to basketball to horse racing and beyond, these sports betting apps have got you covered with a wide variety of sports and betting options to choose from. And with user-friendly interfaces and the ability to place bets with just a few taps of your finger, you can bet on the go without missing a beat.
DraftKings Colorado
DraftKings is a household name in the world of sports betting, and their Colorado sports betting app is no exception. With a sleek interface and a wide variety of betting options, DraftKings is a top choice for sports fans. They also offer unique features like "Flash Bet", which allows you to place live, in-game bets with just a few taps.
Colorado WynnBET
With a focus on high-end user experience, Colorado WynnBET offers a top-notch sports betting app that's easy to use and packed with features. They offer a wide range of betting options, as well as a great selection of promotions and bonuses to keep you coming back for more.
Barstool Sportsbook Colorado
As the official sports betting partner of the popular Barstool Sports brand, Barstool Sportsbook Colorado brings its unique voice and humor to the world of sports betting. They offer a wide range of sports and betting options, as well as exclusive promotions and giveaways for Barstool fans.
Betfred Colorado
Betfred's sports betting app is all about simplicity and ease of use. With a straightforward interface and a great selection of sports and betting options, Betfred is a great choice for bettors who want to keep things simple.
Tipico Colorado
Tipico is a new player in the Colorado sports betting scene, but they're already making waves with their innovative app. They offer a great selection of betting options, as well as unique features like "Tipico Parlay Insurance" that helps protect your bets if one leg of your parlay goes wrong.
Colorado Sportsbook Promotions
Alright, sports fans, it's time to talk about everyone's favorite part of sports betting: the promotions. In Colorado, there are plenty of great sportsbook promotions to take advantage of, whether you're into hockey, basketball, football, or any other sport. Let's take a look:
| Welcome Bonuses | Many Colorado sportsbooks offer welcome bonuses to new users, which can include free bets, deposit matches, or other perks. These bonuses are a great way to get started with sports betting and give yourself some extra funds to play with. |
| Hockey Betting Bonuses | If you're a hockey fan, you're in luck, because many Colorado sportsbooks offer specific promotions for NHL betting. These can include things like free bets or odds boosts for select games or events. |
| Basketball Betting Bonuses | Basketball fans also have plenty of promotions to choose from, with many sportsbooks offering bonuses for NBA or NCAA basketball betting. Look out for things like risk-free bets or enhanced odds for big games. |
| Free Bets | Many sportsbooks also offer free bets as part of their ongoing promotions. These can come in a variety of forms, from deposit matches to risk-free bets, and are a great way to try out new sportsbooks or betting options without risking your own money. |
| Reload Bonuses | For existing users, many Colorado sportsbooks offer reload bonuses that can give you extra funds to play with when you top up your account. These bonuses can come in the form of deposit matches, free bets, or other rewards. |
No matter what sport you're into, there are plenty of Colorado sportsbook promotions to help you get the most out of your sports betting experience. Be sure to keep an eye out for the latest and greatest promotions from your favorite sportsbooks.
Most Popular Sports to Bet On
If you're a sports fan in Colorado, you have a wide variety of sports and betting options to choose from. But which sports are the most popular among Colorado sports bettors? Here are a few of the top sports to bet on in Colorado:
| Football | Football is king in Colorado, with the NFL and college football drawing in massive betting action. From point spreads to over/under bets to prop bets, football offers a wide variety of betting options that keep fans engaged throughout the season. |
| Basketball | With both the NBA and NCAA basketball drawing in big crowds, basketball is another popular choice for Colorado sports bettors. Whether you're betting on the outcome of a single game or making long-term bets on the season, basketball offers plenty of opportunities to win big. |
| Hockey | With the Colorado Avalanche calling the state home, it's no surprise that hockey is a popular choice for sports bettors in the state. Whether you're a die-hard Avs fan or just enjoy the fast-paced action of the NHL, there are plenty of betting options available for hockey fans. |
| Baseball | The Colorado Rockies may not be the most successful team in the MLB, but that hasn't stopped baseball from being a popular choice for sports bettors in the state. From Moneyline bets to run line bets to over/under bets, there are plenty of ways to get in on the action during baseball season. |
| Soccer | While not as popular as some of the other sports on this list, soccer is still a solid choice for Colorado sports bettors, with leagues like the English Premier League and MLS drawing in a dedicated fan base. From moneyline bets to futures bets, there are plenty of options available for soccer fans. |
Of course, these are just a few of the most popular sports to bet on in Colorado. Whether you're into golf, tennis, or even esports, there are plenty of betting options available for sports fans throughout the state.
Payment Methods Accepted By Colorado Online Sportsbooks
When it comes to funding your online sportsbook account in Colorado, there are a variety of payment methods to choose from. Here are a few of the most commonly accepted methods:
| VISA | As one of the largest and most popular credit card providers in the world, VISA is accepted by most online sportsbooks in Colorado. Using a VISA card to make a deposit is quick and easy, with funds usually appearing in your account within minutes. |
| PayPal | PayPal is a popular e-wallet option that's accepted by many Colorado sportsbooks. With fast and secure transactions, PayPal is a great choice for bettors who want to keep their financial information safe and secure. |
| Skrill | Skrill is another popular e-wallet that's accepted by many Colorado sportsbooks. With low fees and fast transactions, Skrill is a good choice for bettors who want to move money in and out of their accounts quickly. |
| Neteller | Neteller is a third e-wallet option that's accepted by many online sportsbooks in Colorado. With low fees and fast transactions, Neteller is a solid choice for bettors who want to keep their transactions secure and simple. |
| American Express | While not as widely accepted as VISA, American Express is still a popular choice for bettors who prefer to use credit cards to fund their accounts. However, be sure to check with your sportsbook to make sure they accept Amex before attempting to make a deposit. |
So there you have it, folks! Whether you prefer to use credit cards, e-wallets, or other payment methods, there are plenty of options available for funding your online sportsbook account in Colorado. Be sure to check with your sportsbook to find out which methods they accept, and always gamble responsibly.
-
American ExpressAmerican Express is a financial services c...
-
Mastercard -
NetellerNeteller is an e-wallet service that allow...
-
PayPalIf you're looking for a quick and secure w...
-
SkrillLooking for the best online sportsbooks in...
-
VISAIn the context of online sports betting in...
How Do I Sign Up at an Online Sportsbook in Colorado?
Keep in mind that the exact registration process may vary slightly depending on the sportsbook you choose. It's also worth noting that Colorado law requires sports bettors to be physically located within the state to place a bet. This means that you will need to enable geolocation services on your device to confirm your location when accessing the sportsbook.
Choose a Sportsbook:
First, select the online sportsbook you want to sign up with. Make sure to research and compare different options to find one that suits your needs and preferences. Only licensed sportsbooks are allowed to operate in Colorado, so make sure to choose a licensed and regulated sportsbook.
Create an Account:
Once you have selected your preferred sportsbook, visit their website and click on the "Sign Up" or "Join" button. You will need to provide some basic information, including your name, email address, date of birth, and the last four digits of your social security number.
Verify Your Account:
After providing your information, you may be asked to verify your account by uploading a government-issued ID or driver's license. Some sportsbooks may also require you to enter a promo code during the registration process to claim any welcome offers or bonuses.
Make a Deposit:
Once your account is verified, you can make a deposit using one of the accepted payment methods. Select the deposit option and follow the instructions to complete the transaction. Colorado sportsbooks accept a range of payment options, including credit/debit cards, e-wallets like PayPal, Skrill, and Neteller, as well as ACH (e-check) and online banking transfers.
Claim Welcome Offer:
If the sportsbook offers a welcome bonus or free bet, make sure to claim it before placing any bets. Check the terms and conditions to ensure you meet all the requirements to qualify for the offer.
Place a Bet:
After making a deposit, you can browse the available sports and markets and place a bet. Choose the sport, event, and outcome you want to bet on and enter the stake amount. Double-check your bet slip to ensure everything is correct before confirming the bet.
Withdraw Winnings:
If your bet is successful, you can withdraw your winnings using the same payment method you used to make a deposit. Some sportsbooks may require you to verify your identity before processing a withdrawal request.
Frequently Asked Questions
Is sports betting legal in Colorado?
Yes, sports betting is legal in Colorado. The state legalized sports betting in May 2019, and the first legal sportsbooks launched in May 2020.
Can I place a bet online in Colorado?
Yes, you can place bets online in Colorado. The state allows online and mobile sports betting through licensed sportsbooks.
What sports can I bet on in Colorado?
You can bet on a wide range of sports in Colorado, including football, basketball, baseball, hockey, soccer, golf, tennis, and more. You can also bet on college sports, but some restrictions apply to college prop bets.
How old do I have to be to bet on sports in Colorado?
You must be 21 years old to bet on sports in Colorado.
Do I need to be a resident of Colorado to bet on sports?
No, you do not need to be a resident of Colorado to bet on sports in the state. However, you must be physically located within Colorado's state borders when placing a bet.
What payment methods can I use to make a deposit?
Colorado sportsbooks accept a range of payment methods, including credit/debit cards, e-wallets like PayPal, Skrill, and Neteller, as well as ACH (e-check) and online banking transfers.
Are there any bonuses or promotions for new users?
Yes, most Colorado sportsbooks offer welcome bonuses and promotions for new users. These can include free bets, deposit matches, and other types of bonuses. Make sure to read the terms and conditions to understand any requirements or restrictions for claiming these offers.
How can I get help if I have a problem with a sportsbook?
If you have a problem with a sportsbook, you can contact their customer support team for assistance. Most sportsbooks offer support through live chat, email, or phone. You can also contact the Colorado Division of Gaming if you have a complaint or dispute that cannot be resolved with the sportsbook directly.
Can I bet on events outside of Colorado?
It depends on the sportsbook. Some sportsbooks may allow you to bet on events outside of Colorado, while others may restrict betting to in-state events only. Make sure to check the sportsbook's terms and conditions to understand any restrictions or limitations.
Are there any taxes on sports betting winnings in Colorado?
Yes, sports betting winnings are subject to state and federal taxes in Colorado. You will need to report your winnings on your tax return and pay taxes on any net profits.
Cassius Mercer
Cassius is among our pioneering authors, boasting a wealth of expertise in various sports analytics withing the US. Thanks to his profound knowledge and remarkable skills, Cassius swiftly ascended to the role of Betsmaster.com's principal content editor in a remarkably short span of time.
About Cassius MercerWas this page helpful?
This page hasnt been rated yet - help others by sharing your opinion