Legal Colorado Betting Sites
In 2018, the Supreme Court struck down PASPA. Also known as the Professional and Amateur Sports Protection Act, it effectively prohibited wagering in any jurisdiction (except for Nevada).
It is now legal for ANY state to set up an online sportsbook. To do that, though, a state needs to pass legalization legislation, and draw up a regulatory framework. Until recently, most of the action has been concentrated on the east coast. That will change in spring 2020, when the first legal sports betting apps launch in Colorado.
Behind the scenes, major online sports betting brands are getting ready. What can you expect on opening day? We’ll share our perspective in this comprehensive review.
CO Betting Apps
|Colorado Sportsbook||Betting App||Software|
|FanDuel||Not yet in CO||iOS / Android|
|DraftKings||Not yet in CO||iOS / Android|
|Betfred||Not yet in CO||iOS / Android|
|Pointsbet||Not yet in CO||iOS / Android|
As of the writing of this page, no sports betting apps are live in Colorado. However, based on our research, we expect at least three major players to accept wagers when legalization arrives in spring 2020. These companies are likely DraftKings Sportsbook, FanDuel Sportsbook, and Pointsbet.
All three companies offer well-designed 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.
However, 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.
Once online sports betting is operational in Colorado, the state will require operators to prohibit out-of-state bettors from wagering. In other states, this is accomplished through geolocation software. If you live or are traveling near state borders, your device may connect to an out-of-state tower.
In this situation, your app will NOT accept sports bets from your account. If this happens to you, turn off mobile data and connect via wi-fi. If this isn’t possible, move away from the border until your phone connects to an in-state tower.
Free Bets, Risk-Free Bets & Deposit Matches in Colorado
It might not be the advanced betting state New Jersey is, but Colorado is a state with a sizable population and a promising online betting market.
As we already mentioned, FanDuel Sportsbook, DraftKings Sportsbook, and William Hill are already rumoured to be preparing for launch day. Competition between these and other players will be intense. To draw customers, these platforms will offer attractive welcome bonuses.
These schemes usually take one of three forms:
- Free bets
- Risk-free bets
- Deposit bonuses
In highly competitive markets, 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 Colorado sportsbooks to offer risk-free bets 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 loss in BONUS CASH – more on that below.
Finally, some sites offer a matching deposit bonus. Whatever you deposit (up to a defined cap), they’ll match it. For instance, if a sportsbook offers 100% up to $250 and you deposit $250, the site will give you $250 in BONUS CASH.
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.
Before you can withdraw bonus funds, you need to satisfy playthrough requirements. It’s too early to say what rules Colorado online betting sites will have in place. However, FanDuel and DraftKings have a 1x playthrough requirement on their West Virginian and Pennsylvania betting portals. For a bettor, it’s a great deal.
As such, it’s reasonable to expect similar policies in Colorado. That said, should different rules come to light, we’ll update this space to reflect the latest information.
Colorado Online Betting Sites – Promos
To retain customers, the best Colorado online betting sites will run exciting promotions. These 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 sportsbook is running a 30% up to $100 and you deposit $50, you’ll get $15 in bonus cash.
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. For instance, if you win $50 on a wager with 20% profit boost, you’ll pocket $10 extra.
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 protects your investment against a last-minute comeback. If the unthinkable happens, the 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. However, most options are universal across states that currently enjoy legal online betting.
Sportsbooks currently operating elsewhere in America offer multiple ways to deposit. Below, we’ve listed the most common methods. As the Colorado sportsbook industry firms up, additional ways to pay may debut.
The most likely methods include:
- Credit cards (Visa/MasterCard)
- ACH/online banking
Credit cards and online banking transactions 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 doesn’t work for everyone. Some banks still define sports betting transactions as gaming, which they block. And other gamers require 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 deposit methods used in some states, but not in others. These include:
- Prepaid cards
- Cash at the Cage
In some legal sports betting states, regulators require online sportsbooks to partner with brick-and-mortar 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 some states, 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 cash you wish to deposit, to a partner retailer. Within minutes, you’ll have a bankroll online, minus a paper trail.
Eventually, you’ll log a big win. 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)
- Paper checks
Unlike deposits, withdrawals are NOT 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.
Do 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.
Colorado 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 – Online Betting on Its Way
Sports betting is set to make its long-awaited Colorado debut on the 1st of May 2020, if everything goes according to plan. The sites have yet to launch – as such, we cannot break them down for you in detail. However, if the product that FanDuel, DraftKings, and Pointsbet already offer are any guide, Coloradans are in for a treat!
Colorado Online Betting FAQ
Can you bet on sports online in Colorado?
Not yet. The Colorado state government legalized sports betting July 2019. In November 2019, citizens ratified the decision in a referendum. At present, stakeholders and government officials are working to set a launch date. It is thought betting will debut sometime in the first half of 2020.
Where can I bet on sports online in Colorado?
At press time, no online betting operators have officially announced their entrance into the Colorado sports betting market. However, credible rumors suggest FanDuel, DraftKings, and Pointsbet are likely to be among the first online sportsbooks to open in the Centennial State.
Will I be able to place bets in Colorado using a VPN?
No. To prevent out-of-state gamers from wagering, Colorado sportsbooks will be compelled to track your location. To avoid these players from using VPNs to skirt the law, they have measures in place to detect them.
If you are caught using a VPN, your account will be shut down and funds seized. Therefore, if you use a VPN for privacy purposes, disable it before logging into a Colorado sportsbook.
What’s the proposed Colorado sports betting tax all about?
One of the conditions attached to the legalization of sports betting is a 10% flat tax. Applied to net proceeds, the money raised will go towards funding Colorado’s water conservation plan.
Is FanDuel Sportsbook legal in Colorado?
They're set to open business on the 1st of May, when online sports betting becomes officially legal in Colorado.
They've partnered up with Twin River for market access to Colorado and from what we've heard, they can't wait for the opening day in the Centennial State..