Online Sports Betting in Colorado 2024
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Curious about the sports betting scene in the Centennial State? You’re in the right place! Online sports betting is legal in Colorado, offering a thrilling landscape full of opportunities for both new and experienced bettors. This guide will walk you through everything from top CO betting apps to exciting local sports teams, ensuring you’re ready to make the most of your betting experience. Dive in and discover how you can start winning today!
🔑 Key Takeaways
- Explore the best CO sportsbooks and find the best ones for you.
- Understand Colorado sports betting legalization and updates.
- Discover where to join retail sports betting in Colorado.
Top 5 Sports Betting Apps in Colorado
Colorado boasts 12 legal betting apps, each with distinct features and generous welcome bonuses for newcomers. We’ve highlighted some of them below, but for more details on these bonuses visit our Colorado Sportsbook promo page.
Quick Facts About Colorado’s Sports Betting Laws
Before diving into the action, it’s crucial to understand the essential legal details. Here’s a snapshot of Colorado’s sports betting regulations:
| Colorado Online Sports Betting Legality | Legal, since May 2020 |
| Number of Legal CO Sportsbooks | 12 |
| Legal Age | 21 |
| State Regulator | Colorado Limited Gaming Control Commission |
| State Border | Betting allowed only within state borders; restricted on Ute tribal lands |
| College Sports Betting | ✅ (prop bets not allowed) |
| Retail Sports Betting | ✅ |
| Daily Fantasy Sports (DFS) | ✅ |
| eSports Betting | ✅ |
| Gambling Help Line | 1-303-662-0772 |
Most Recent Updates Around Colorado Sports Betting
Stay updated with the latest news in Colorado’s sports betting industry:
- November 10, 2024: Denver Nuggets win 122-120 in a thrilling match against OKC.
- October 28, 2024: A record-breaking month with $55.1 million in revenue on a $562.9 million handle for September.
- September 30, 2024: bet365 opens a Denver office, aiming to hire nearly 1,000 employees to boost brand awareness.
- September 8, 2024: The Broncos lost 26-20 in a season-opening game against the Seahawks.
- August 31, 2024: ClutchBet exits the U.S. market, including Colorado, amid strategic shifts.
- August 30, 2024: Betsafe announces the closure of its operations in Colorado.
Popular Sports and Teams to Bet on in Colorado
Colorado offers an exciting sports betting landscape with diverse teams and events, creating a dynamic culture that captivates both fans and bettors. Here are some of the sports and teams that draw the most interest in the state:
- NBA: Denver Nuggets → The Nuggets clinched the NBA Championship in 2023, marking their first victory and proving their prowess on the court.
- NFL: Denver Broncos → With three Super Bowl titles (1997, 1998, and 2015), the Broncos are a storied franchise with strong fan loyalty.
- NHL: Colorado Avalanche → The Avalanche have won the Stanley Cup three times, with their latest triumph in 2022, adding to their rich hockey legacy.
- MLB: Colorado Rockies → Known for their passionate fanbase, the Rockies consistently deliver exciting baseball, despite still chasing their first World Series win.
Colorado Sports Betting Taxes
Sports betting winnings in Colorado are subject to both federal and state taxes. Here’s what bettors need to know:
- State Income Tax: A flat rate of 4.4% applies to all gambling winnings, including sports bets, regardless of the amount.
- Federal Income Tax: Winnings are taxed at 24%, making it crucial for bettors to account for the full tax responsibility.
For example, winning $1,000 betting on the Denver Broncos would incur $44 in state taxes and $240 in federal taxes.
- Reporting Requirements: Colorado sportsbooks must report any gambling winnings over $600. A W-2 G form will be issued, and bettors must declare these on their tax returns to ensure compliance.
Visit our dedicated page for a better understanding of how taxes work in sports betting.
History of Sports Betting Legalization in Colorado
The journey to legal sports betting in Colorado was relatively smooth but had its moments. Here’s a timeline of key events:
- May 2020: Legal sports betting officially launches in Colorado, marking the state as a hub for regulated wagering.
- November 2019: Proposition DD is put on the ballot to approve sports betting under Colorado’s TABOR laws. Despite some opposition, it passes with a narrow winning margin of 50.8% votes.
- May 2019: Colorado lawmakers pass HB19-1327, legalizing both retail and online sports betting. The bill receives bipartisan support, primarily for its intent to fund water conservation projects.
- May 2018: The U.S. Supreme Court repeals PASPA, allowing states to set their own sports betting laws.
Are There More Gambling Options in Colorado?
Colorado’s gambling scene extends beyond traditional sports betting, offering a variety of exciting options for enthusiasts. Whether you’re interested in live horse racing, land-based casinos, or daily fantasy sports, the state has something for everyone.
Horse Racing: Arapahoe Park and off-track venues provide thrilling options for betting on horse races.
Land-based Casino Games: Over 30 locations offer classic table games and slots.
Daily Fantasy Sports: Platforms like FanDuel and PrizePicks lead the DFS market.
Esports Betting: Increasingly popular, with markets for top video game tournaments.
Retail Sports Betting: Available in key locations such as Black Hawk and Central City.
So, Will You Bet From Colorado Tonight?
So, now that we’ve established that online sports betting is legal and thriving in Colorado, you have a wealth of opportunities at your fingertips. Explore reputable sportsbooks and place bets on popular teams like the Denver Nuggets and Colorado Avalanche. As you dive into the exciting world of sports betting, remember to stay informed and bet responsibly.
To further enhance your understanding, visit our dedicated page on state regulations. This resource will provide valuable insights into Colorado’s sports betting landscape and other states across the U.S., helping you make informed decisions wherever you choose to wager.
References
- “HB19-1327: Authorize And Tax Sports Betting Refer Under Taxpayers’ Bill Of Rights”. Colorado General Assembly. Retrieved Nov 13, 2024.
- Colorado Department of Revenue. Retrieved Nov 13, 2024.
- “Proposition DD: Legalization and Taxation of Sports Betting”. Colorado General Assembly. Retrieved Nov 13, 2024.
- Problem Gambling Coalition of Colorado. Retrieved Nov 13, 2024.
Frequently Asked Questions
Yes, legal sports betting was approved in Colorado in May 2020. Both online and retail sports betting are permitted, allowing residents to place sports wagers at CO sportsbooks or through various sportsbook apps.
Yes, you can bet on college sports in Colorado. However, there are restrictions. For example, you cannot place prop bets on individual college athletes.
To get started with online sports betting in Colorado, choose a reputable CO sportsbook that offers an app or website. Register for an account, verify your identity, and deposit funds. Once your account is set up, you can start placing sports wagers on your favorite sports and teams.
Yes, you can bet on eSports in Colorado. Many Colorado sportsbooks offer markets for popular eSports events and tournaments, like League of Legends, Dota 2, and CS: GO.
Yes, all winnings must be declared as income and are subject to state and federal taxes.
