Colorado Sports Betting - Legal Online Betting Sites 2020

Legal Colorado Sports Betting Sites

In 2018, the Supreme Court struck down PASPA. Also known as the Professional and Amateur Sports Protection Act, it effectively prohibited sports wagering in any jurisdiction (except for Nevada). Now, Colorado has stepped up to the plate and will begin to offer legal online sports betting.

It is now legal for any state to set up its own online gaming laws. To do that, a sports betting state needs to pass legislation and draw up a regulatory framework. Until recently, most of the action has been concentrated mostly on the east coast. The pendulum swung west in the 1st of May 2020, when the first sports betting apps launched in Colorado. Sports betting Colorado sites are licensed by the Colorado Division of Gaming. Legal sites will display the The Division of Gaming logo and a statement that the site is regulated for online gambling.

William Hill got its license granted on the 7th of April.

Here’s what you can expect from the online sportsbooks in Colorado.

CO Sportsbook Apps

Legal sports betting began in Colorado on May 1st, 2020. You can place sports bets with these licensed mobile betting apps in Colorado. While any couple mobile apps were ready to go on May 1, there are more to come as each existing casino in Colorado may apply for a master license to offer sports betting.

Legalizing Sports Betting Apps

According to state statute, online sportsbook operators must partner with one of Colorado’s local casinos. A few sportsbook apps are currently live in Colorado. DraftKings Sportsbook and FanDuel Sportsbook are the leading sportsbooks in the United States, and they got the party started right on May 1 2020, when their betting apps were given the green light. Colorado Gaming Control Approved first Sports Betting Licenses in early April 2020.

They offer well-designed betting apps in the states where they operate. In every instance, they offer both an Android and an iOS version of their mobile app. The download process for Apple customers is straightforward. Simply search for the app in the App Store and initiate the download.

DraftKings launched in Colorado on the 1st of May.

Betting Online on Android Devices

Acquiring the Android app can be a tad more complex. Google does not allow real-money gaming apps in the Play Store. In each case, you’ll have to download the relevant app from your sportsbook’s website.

Then, you may run into another problem – your phone may block the download. If this happens to you, check your security settings. If Allow Downloads From Unknown Sources is not selected, enable it.

Now that online sports betting is operational in Colorado, the state will require sports betting operators to prohibit out-of-state bettors from sports wagering. In other states, this is accomplished through geolocation software. If you live or are travelling near state borders, your mobile device may connect to an out-of-state tower.

CO Sports Betting Bonus

In highly competitive Colorado sports betting market, some sportsbooks will offer free bets. Effectively, they are the sports betting equivalent of “free spins” in online casino. In return for your deposit (and completing playthrough requirements), they will give you money to wager with. If you win, you keep the profit, minus the initial stake.

However, we expect most of the Colorado sports betting sites to offer a risk-free first bet for sports gambling instead. Instead of fronting you money, they’ll guarantee the first wager you make, up to a cap. If you win, then you keep the proceeds as you usually do. But, if you lose, your sportsbook will refund your first bet loss in BONUS CASH – more on that below.

Finally, some sites offer a matching sign up bonus. Whatever you deposit (up to a defined cap), they’ll match it – no deposit bonus code needed. For instance, if a sportsbook offers 100% up to $250 and you deposit $250, the site will give you $250 in BONUS CASH. That’s more for you to bet with.

Free Bets, Risk-Free Bets & Deposit Matches

It might not be the advanced betting state New Jersey is. Still, Colorado is a state with a sizable population and a promising sportsbook market.

Competition between the operators will be intense for sports betting in Colorado, as nearly 20 online sportsbooks are slated to launch before 2021 rolls around. To draw customers, these online bookmakers in Colorado will offer attractive welcome bonuses.

These schemes usually take one of three forms:

• A Risk Free Bet
• No Deposit Bonuses
• A Sign Up Bonus

Playthrough Requirements

If you’re new to online betting, these offers may seem ridiculous to you. Why would a business just give you money? Wouldn’t anyone with two brain cells just pocket the cash and run?

Well, you’re right – it is ridiculous. That’s why online sportsbooks impose playthrough requirements on their welcome offers. In the above section, we bolded and spelled BONUS CASH in all caps. That wasn’t an accident – these funds come with strings attached for sports gambling.

Before you can withdraw bonus funds, you need to satisfy playthrough requirements. For instance, FanDuel and DraftKings have a 1x playthrough requirement for their Colorado bettors, just like they do for their West Virginian betting and Pennsylvania betting portals. For a sports fan & bettor, it’s a great deal.

As such, it’s reasonable to expect similar policies in Colorado sports betting from other operators like BetAmerica and Circa Sports as well. However, it remains to be seen what type of wagering requirements become the standard in Colorado.

Colorado Online Betting Promotions

To retain customers, the best Colorado online betting sites will run exciting promotions. These Colorado sports betting & casino offers take many forms – in general, though, most fall into the following categories:

• Reload bonuses
• Profit boosts
• Odds boosts
• Insurance promos
• And many more…

Reload bonuses are the most common ongoing promotion you’ll find. They function just like deposit bonuses – your sportsbook will match your reload to a certain percentage/cap. For example, if a Colorado sports betting site is running a 30% up to $100 and you deposit $50, you’ll get $15 in bonus cash to bet on sports.

There are many different bet types available: Profit boosts, odds boosts, and insurance promos are unique to sportsbooks. When activated, a profit boost will give additional cash, should you win the bet on sports. For instance, if you win $50 on a wager with 20% profit boost, you’ll pocket $10 extra. Special CO sports betting promotions during the football season are likely to appear as well, so keep your eyes open.

Betting on Sports in Colorado

As far as sports betting Colorado goes, almost anything is legal. Online betting on the four major pro sports teams (the Denver Broncos, Denver Nuggets, Colorado Avalanche, Colorado Rockies) in Colorado is possible, along with UFC, NHL, NBA, table tennis, and so on. However, sports betting on video games (eSports) and amateur sports leagues, including college sports, are prohibited for now.

Sports betting sites won’t allow player props or live betting. Unfortunately, no sports betting on any high school sports or prop bets on collegiate athletics is allowed. But during the Super Bowl for example, sports fans can make various different prop bets on the game.

What about an odds boost? An odds boost artificially inflates your bet’s odds, increasing its potential payout. Let’s say you bet on a team getting money line odds of -150. After applying an odds boost, you’re now getting -200. Should you win, your wager will now be multiplied by -200, not -150 (AKA the real odds.)

Lastly, insurance promotions protect your investment against a last-minute comeback in sporting events. If the unthinkable happens, the CO sports betting site will pay part or all your wager back in bonus cash.

Banking on Colorado Online Betting Sites

To wager on Colorado online betting sites, you’ll need to get a bankroll online. We’ll be honest – we’re not 100% sure of the options that will be available in Colorado for all sports betting operators. However, most options are universal across states that currently enjoy legal online betting.

Colorado sportsbooks are expected to offer a variety of deposit and withdrawal methods.

Deposit methods

Sportsbooks currently operating elsewhere in America offer multiple ways to deposit. Below, we’ve listed the most common methods. As the Colorado sports betting industry firms up, additional ways to pay may debut.

The most likely deposit methods include:

• Debit Cards (Visa)
• Credit Cards (MasterCard)
• ACH /Online banking
• PayPal

Credit card options like American Express and online bank transfers are the easiest ways to make a sportsbook deposit. You enter your number, expiry date, and CVV. In seconds, you have a wagering bankroll online.

However, these methods don’t work for everyone. Some banks still define sports betting transactions as gaming, which they block. And other gamers require the privacy that online banking or cards don’t provide.

In both cases, PayPal is the perfect solution. On sportsbooks that accept PayPal, start by sending the amount you wish to deposit to PayPal first. Then, initiate a PayPal deposit on the sportsbook where you have an account. This way, neither your bank or significant others know you are betting on sports!

Then, there are payment methods used in some states, but not in others. These include:

• Prepaid cards
• PayNearMe
• Cash at the Cage

In some legal sports betting states like Colorado and New Jersey, regulators require online sportsbooks to partner with brick-and-mortar Colorado casinos. These arrangements can give rise to a couple of unique deposit methods.

Firstly, an online sportsbook’s brick-and-mortar partner may offer a prepaid card. This allows you to load cash onto the card and transfer it to an online sportsbook. Secondly, you can walk into a partner casino and deposit via the cashier cage. This method is known as “Cash at the Cage.” In most cases, this is a quick and discreet way to deposit.

Finally, in a few states like Pennsylvania, sportsbooks accept PayNearMe as a deposit method. PayNearMe works with retailers like 7-Eleven, CVS, and Family Dollar. To use it, initiate PayNearMe as your deposit method. Doing so will grant you a PayCode. Take this code, along the money you wish to deposit, to a partner retailer. Within minutes, you’ll have a bankroll online, minus a paper trail.

Withdrawal methods

Eventually, you’ll log a big win on sports betting. When the time comes, sportsbooks across America offer a variety of ways to get your money.

Again, we’ve yet to confirm the exact methods Colorado online betting sites will use for withdrawals. Based on what’s available in other markets, though, it’s likely the following will be allowed:

• ACH (e-checks)
• PayPal
• Paper checks

Unlike deposits, withdrawals are NOT completely instant. To protect against criminal activity, sportsbooks examine all withdrawals for signs of suspicious activity. The majority pass review within an hour or two, but some can take up to a day or two.

ACH, or e-checks, are the most common method. After passing review, these withdrawals will take three to five business days to land in your bank account.

PayPal withdrawals will end up in your account within one to two days. However, this estimate doesn’t include the processing time between PayPal and your bank. Allow for an additional three to five business days for delivery.

Does neither of the above methods work for you? If so, paper check delivery via the postal system will be your sole option. Once sent, it could take seven to ten business days (or longer) to receive your funds.

Online betting sites may offer two other withdrawal methods: prepaid cards or Cash at the Cage.

At this time, it is still unknown whether Colorado brick-and-mortar partners will offer prepaid cards. If they do, however, they are the best choice for speedy withdrawals. In states where they are available, withdrawn funds are available as soon as they pass review. Within an hour or two, you’ll be able to withdraw at an ATM. After initiating a withdrawal using this method, take your transaction details and valid photo ID to the cage. Unless the system flags your transaction, your cashier will pay you out within minutes!

For example, you may be able to pay and withdraw in cash at DraftKings and FanDuel. The two big hitters have joined forces with Twin River owned casinos Golden Gates, Golden Gulch and Mardi Gras in Black Hawk.

Conclusion: Sports Betting in Colorado is Here – Now Launch All the Brands

Colorado Sports betting has made its long-awaited debut on May 1 2020. Colorado residents and sports bettors physically located in the state can now enjoy betting on sports.

Now the selection of CO sports betting brands is still limited, but as the year goes on, Coloradans will get to choose from almost 20 brands where they can gamble online. There are also rumours that sports betting inside Colorado casinos is expected to open at some point in 2020.

Only New Jersey is as a competitive market for internet sports betting, so Colorado is sure in for a treat. Legal online betting in Colorado is finally here!