Colorado voters approved legal sports betting back in November of 2019. With the legalization of sports betting, Colorado bettors will be able to make their wagers in-person and via online and mobile apps as well. Legal sports betting will officially kick off in the Centennial State on May 1st, 2020.
Colorado Legal Sports Betting Basics
A sports betting bill was approved by the Colorado state legislature in the summer of 2019. This approval gave voters in the state a chance to have their say on the matter. What became known as Proposition DD, Colorado voters were given the opportunity in November of 2019 to vote on whether or not to legalize sports betting in their home state. Of the approximately 1.3 million votes, Proposition DD narrowly passed by about 20,000 votes (50.8%).
As part of the new sports betting law, there are three types of licenses that can be obtained. There are 33 casinos located in Colorado and each one is eligible to apply for a master license. Approved casinos can then partner up with sportsbook operators for land-based and/or online sportsbooks. Casinos can either partner with the same operator for both or two separate operators. The other two types of licenses are sports betting operator license and internet sports betting operator license. These are the types of licenses that must be obtained by those looking to partner with casinos who have obtained a master’s license.
A 10% tax rate is expected to amount to an estimated $29 million a year in state revenue. That money will be allocated to Colorado’s water plan.
Colorado Casinos With Legal Sports Betting
There have been more than 50 applicants that have applied for some form of sports betting license. So far there have been a couple of different meetings that have resulted in licensing being approved. The Colorado Limited Gaming Control Commission has approved licensing for a number of different casinos thus far with more expected to be approved at their next meeting, which is currently scheduled for March 19th.
So far, some of the casinos that have been approved for licensing include:
– Ameristar Casino
– Golden Mardi Gras Casino
– Lady Luck Casino
– Isle Casino Hotel Black Hawk
– Monarch Casino Resort Spa
– Saratoga Casino Black Hawk
– Dostal Alley Central City
– Double Eagle Hotel and Casino
– Brass Ass Casino
– J.P. McGill’s Hotel and Casino
– Midnight Rose Hotel and Casino Cripple Creek
Colorado Online Sports Betting
DraftKings was one of the first sportsbook operators to be approved for licensing in Colorado. DraftKings was approved for two licenses that will allow them to operate both an online sportsbook in the state as well as a retail sportsbook. DraftKings has partnered up with Twin River Worldwide Holdings for a physical sportsbook that will be located inside the Golden Mardi Gras Casino Black Hawk.
Score Media Ventures Inc., which operates theScore mobile betting app, was also granted an internet sports operator license.
In addition to DraftKings Sportsbook and theScore, other online sportsbook operators expected to apply for licensing include:
Bet365 is a British-based company that has been operating since 2000. With over 45 million customers worldwide, Bet365 is one of the biggest names in sports betting in the world. Bet365 is currently operating in New Jersey.
BetAmerica is a sportsbook, casino and horse racing platform offering a world-class, full-spectrum betting experience available at retail locations, online and from their mobile app. BetAmerica is owned by the iconic Churchill Downs Incorporated, home of 150 years of wagering history and the world-famous Kentucky Derby. Whether you prefer horse racing, sports, or hitting the casino, BetAmerica welcomes you into the most trusted wagering service in America. BetAmerica is currently available in New Jersey.
BetMGM is the online sportsbook of MGM. Tied to 20 properties across the country, BetMGM is currently available in Indiana, Nevada, New Jersey, and West Virginia. BetMGM has the same offerings that you can find at any of their many retail sportsbook locations.
FanDuel is one of the leading and most trusted sportsbooks in the United States. Starting out as a daily fantasy sports (DFS) site, FanDuel branched out into sports betting in 2018 after the PASPA ruling. Now FanDuel is one of the largest sportsbooks in America with locations in New Jersey, Pennsylvania, West Virginia and Indiana
– Fox Bet
FoxBet is partnered with The Stars Group and is in Pennsylvania and New Jersey with goals of expanding in the near future. Bettors can sync their Poker Stars account with their FoxBet account for easy access between betting and playing poker. You will find plenty of great promotions and the largest number of odds boosts across different sports that you will find with any other online sportsbook.
PointsBet first launched in the United States in January of 2019. Originally founded in Australia, PointsBet is a cutting-edge bookmaker that prides itself on having the quickest and most user-friendly app (iOS and Android) while also providing the best content and experience for sports bettors. PointsBet is the only U.S. online bookmaker to offer PointsBetting – a unique and innovative way to bet.
PointsBetting is a high-risk, high-reward form of betting that, as the name suggests, is currently unique to PointsBet. While using their PointsBetting platform, clients are either rewarded or docked by how right or wrong their wager was. Unlike fixed odds, each point of difference from the spread or total becomes a multiplier of the original stake, allowing a bettor to win or lose more and more based upon the outcome of their wager. PointsBet is currently available in New Jersey, Indiana, Iowa and Illinois with plans to launch in Colorado as well.
“Triple Eight Sport” was founded in 2008 and has quickly become one of the leaders in the gambling industry. 888 was one of the first non-US sportsbook to enter the country in 2013 in Nevada. Now Triple Eight Sport is available in New Jersey as well as it looks to continue its expansion in the US.
Unibet was started in the 1990s and has grown to one of the biggest sports betting operators in the world. Unibet serves over 11 million customers in more than 100 countries. Now Unibet is making its move into the US market as they already have sportsbooks launched in the US as well as partnerships with US sports teams. Unibet is currently available in Pennsylvania and New Jersey.
William Hill betting shops started in the UK and has offered sports fans a superior betting experience for over 85 years. In 2012, William Hill crossed the pond and is currently expanding its renowned sportsbook brand in the US. William Hill is one of the largest sportsbook operators in the world with a strong market not only in Nevada but also globally. Currently, William Hill can be found in nine different states.
Colorado Legal Sports Betting FAQ
1. When will sports betting begin in Colorado?
May 1st has been set as the projected target date for the launch of legal sports betting in Colorado. Mobile betting is also expected to launch on this date. Due to the recent coronavirus outbreak, it is currently unknown if that date will be effected at all. However, with a number of major sports leagues such as the NBA, NHL, MLB and PGA Tour, Colorado residents may be able to bet on more of those events than originally anticipated.
2. Is online/mobile sports betting legal in Colorado?
Yes. Legal sports betting in Colorado will include online and mobile sports betting. You do not have to be a resident of Colorado in order to bet legally online. However, you must be physically located inside Colorado state lines when placing your bet. Geolocation technology will be used to determine your location while accessing any legal online/mobile sports betting platform.
3. Where can I bet legally in Colorado?
Aside from being able to bet legally online anywhere inside Colorado state lines, bettors will be able to make wagers at any casino that receives the proper licensing. All 33 casinos located in Colorado are eligible to apply for licensing to offer sports betting. So far a number of casinos have been approved with more to come between the scheduled May 1st launch date.
4. Will I be able to bet on teams located in Colorado?
Yes, betting on teams located in Colorado is permitted. However, betting on high school sports, unsanctioned eSports or collegiate prop bets is not allowed. If you ever have any questions on what sporting events are legal to bet on in Colorado you should contact the Colorado Division of Gaming.
5. Are online legal sports betting sites in Colorado safe?
Yes, any sportsbook regulated and licensed by the Colorado Division of Gaming will be safe for you to bet with. The legal sports betting age in Colorado is 21-years old. Anyone who is at least 21-years old can safely bet in Colorado at an approved online sportsbook when they launch on May 1st, 2020. Banking options offered by these online sportsbooks are also safe as they have to pass a number of safety regulations in order to be available for use. As long as you are betting on a licensed and regulated legal sportsbook in Colorado, you are in good hands.