Sports Betting in Colorado: Complete 2026 Guide
Colorado has embraced the sports betting revolution, offering a vibrant and competitive market for both residents and visitors. This guide provides a comprehensive overview of everything you need to know about wagering on your favorite sports in the Centennial State.
Current Legal Status and History
Sports betting is legal and fully operational in Colorado. The journey to legalization began in May 2019 when the Colorado General Assembly passed HB19-1327. This was followed by the crucial passage of Proposition DD in November 2019, where voters narrowly approved the legalization of sports betting. The official launch of both online and retail sports betting took place on May 1, 2020.
The Colorado Division of Gaming, in conjunction with the Colorado Limited Gaming Control Commission, oversees the regulation and licensing of all sports betting operations within the state, ensuring a safe and fair environment for all participants.
Available Sportsbooks and Their Features
Colorado boasts a wide array of online sportsbooks, giving bettors plenty of options to choose from. Here are some of the most prominent operators in the state:
- DraftKings Sportsbook: A giant in the daily fantasy sports (DFS) and sports betting industry, DraftKings offers a user-friendly app, a vast selection of betting markets, and frequent promotions. Their "Bet $5, Get $200" welcome bonus is a popular entry point for new users.
- FanDuel Sportsbook: Another DFS powerhouse, FanDuel provides a sleek and intuitive mobile app, competitive odds, and innovative features like same-game parlays. They often have attractive sign-up offers for new Colorado bettors.
- BetMGM: The online sports betting arm of MGM Resorts International, BetMGM offers a sophisticated platform with a deep menu of sports and bet types. Their loyalty program, MGM Rewards, is a significant perk for regular players.
- Caesars Sportsbook: Backed by the renowned Caesars Entertainment brand, this sportsbook offers a premium experience with a strong focus on customer service and generous promotions. Their Caesars Rewards program is also a major draw.
- Bet365: A global leader in online sports betting, Bet365 brings its extensive international experience to the Colorado market. They are known for their comprehensive live betting options and a wide range of sports coverage.
- Other notable sportsbooks: The list of options in Colorado is extensive and includes other reputable names such as BetRivers, Circa Sports, Fanatics, Hard Rock Bet, and theScore Bet.
Types of Bets Available
Colorado sportsbooks offer a wide variety of betting options to suit all levels of experience. Here are some of the most common types of bets you'll encounter:
- Moneyline: A straightforward bet on which team or individual will win a game or event.
- Point Spread: A bet on the margin of victory. The favorite must win by a certain number of points, while the underdog can win outright or lose by less than the spread.
- Totals (Over/Under): A bet on the total number of points scored in a game by both teams combined.
- Parlays: A single bet that combines multiple individual wags. All legs of the parlay must win for the bet to be successful, but the potential payouts are much higher.
- Teasers: A type of parlay where you can adjust the point spread or total in your favor in exchange for a lower payout.
- Prop Bets (Propositions): Bets on specific events within a game that may not be directly related to the final outcome, such as which player will score the first touchdown.
- Futures: A long-term bet on an event that will happen in the future, such as which team will win the Super Bowl.
- Live Betting: Placing bets on a game or event while it is in progress, with odds that update in real-time.
Tax Implications for Winnings
Sports betting winnings are considered taxable income in the United States. In Colorado, you are subject to both federal and state taxes on your net winnings.
- Federal Tax: Gambling winnings are subject to a flat 24% federal tax. If you win over $600, the sportsbook may issue you a Form W-2G.
- State Tax: Colorado has a flat state income tax rate of 4.40%, which applies to all gambling winnings.
It is important to keep accurate records of your wins and losses for tax purposes. You can often deduct your losses to offset your winnings.
Mobile vs. Retail Betting Options
Colorado offers both mobile and retail sports betting, providing bettors with flexibility and convenience.
- Mobile Betting: The vast majority of sports betting in Colorado takes place online through mobile apps. You can download any of the licensed sportsbook apps to your smartphone or tablet and place bets from anywhere within the state's borders. Geolocation technology is used to ensure you are physically located in Colorado when placing a wager.
- Retail Betting: For those who prefer a more traditional betting experience, there are several retail sportsbooks located in casinos in the towns of Black Hawk, Central City, and Cripple Creek. These locations offer in-person wagering at betting windows and kiosks.
Tips for Bettors in this State
- Shop for the best lines: With so many sportsbooks available, it pays to compare odds for the same bet across different platforms to ensure you are getting the best possible value.
- Take advantage of promotions: Sportsbooks are constantly offering bonuses and promotions to attract and retain customers. Be sure to read the terms and conditions carefully before opting in.
- Do your research: Don't just bet on your favorite team. Research matchups, injuries, and trends to make informed betting decisions.
- Manage your bankroll: Set a budget for your betting activities and stick to it. Never bet more than you can afford to lose.
Responsible Gaming Resources
Colorado is committed to promoting responsible gaming and providing resources for those who may be struggling with problem gambling. If you or someone you know needs help, please reach out to one of the following organizations:
- Problem Gambling Coalition of Colorado: https://www.problemgamblingcolorado.org/
- National Council on Problem Gambling: https://www.ncpgambling.org/
- Gamblers Anonymous: http://www.gamblersanonymous.org/ga/
You can also find self-exclusion programs and other resources on the websites of the Colorado Division of Gaming and the individual sportsbooks.