Sports Betting Q&A
Frequently asked questions about sports betting
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Is sports betting legal in Colorado?

Yes. Colorado legalized in-person and mobile sports betting November 2019 after a bill was signed by the Governor and then approved by voters. The new sports betting law is expected to take effect May 2020 with numerous betting operators already signed on.

Beginning May 1, 2020 (pending postponements due to Coronavirus), sports betting will be allowed at approved casinos, as well as online sportsbooks who already have partnerships and licenses. Given that more than 50 operators have applied for sports betting licenses, more are likely to be approved. Colorado will likely keep handing out licenses until May and beyond, and we'll try to update these lists as much as possible.

Colorado has two types of licenses to offer. The first is for brick-and-mortor casinos to offer retail and online sports betting throughout the state. The second is for online-only sportsbooks, though they still have to partner with a land-based casino before offering action.

Of note, proposition betting on college games will be restricted. That means you can't bet on specific stats like the number of touchdowns for a quarterback or the amount of points for a basketball player.

Daily Fantasy Sports and horse racing betting are also allowed in Colorado. Daily Fantasy Sports were legalized in 2016 and they restrict anyone under the age of 18 from participating, which is different from sports betting and the age limit of 21.

Online Sportsbooks

BetAmerica

Through Churchill Downs Incorporated and utilizing a betting license with Full House Resorts, BetAmerica will open a retail sportsbook at Bronco Billy's Casino (Cripple Creek) in addition to having online sports wagering throughout the state.

Circa Sports

Circa Sports, a Las Vegas-based sports betting company, entered a partnership with Century Casinos, which will allow them to have a retail sportsbook as well as state-wide mobile sports betting.

DraftKings Sportsbook

Partnered with Twin River Worldwide Holdings, DraftKings is set to offer mobile betting immediately, while a retail location at Mardi Gras Casino in Black Hawk is also in the works.

FanDuel Sportsbook

Also partnered with Twin River Worldwide Holdings, FanDuel can offer online sports betting in Colorado, though they don't have plans for a retail sportsbook. Because Twin River has three Colorado casinos to its name, it can launch up to three mobile betting sites.

ISI Race & Sports

The Nevada-based sports-betting company, ISI Race & Sports, partnered with Wildwood Casino in Cripple Creek. Given that this is one of the newer partnerships, details have yet to emerge of what the sportsbook will be titled.

PointsBet

PointsBet is one of the few Colorado online sportsbooks that is also expected to offer in-person betting May 1. Through a partnership with Desert Eagle Casino in Cripple Creek, PointsBet will offer online sports betting and in-person betting at the Casino.

SuperBook

SuperBook struck a deal April 2020 to run the sportsbook at Lodge Casino in BlackHawk. This is just the second sportsbook for SuperBook, who run things at Westgate in Las Vegas. 

theScore bet

Partnered with Jacobs Entertainment, parent company of Lodge Casino and Gilpin Casino, theScore is set to offer mobile sports betting in Colorado. theScore was granted a temporary license for internet sports betting in Colorado in March 2020 and should be full go once sports betting is legal in the state.

Physical Sportsbooks

Bull Durham Casino, Black Hawk

Bull Durham Casino received its license in late March and has yet to announce a partner for its new sportsbook.

Dostal Alley Casino, Central City

Dostal Alley, which is composed of a casino, microbrewery and restaurant in Central City, has yet to release a partner for its upcoming sportsbook.

Double Eagle Casino

PointsBet will operate the sportsbook at Double Eagle Casino in Cripple Creek when sports betting opens up in the state.

Johnny Nolon's Casino, Cripple Creek

Johnny Nolon's Casino has yet to partner with a sportsbook.

Lodge Casino, Black Hawk

The sportsbook at Lodge Casino will be under the SuperBook brand (deal signed April 2020), who operate one of the larger sportsbooks in Las Vegas at Westgate.

Monarch Casino, Black Hawk

Monarch received a master license for sports betting and is expected to open a sportsbook but has yet to announce a partner.

Red Dolly Casino, Black Hawk

Red Dolly Casino received one of the newer licenses and has yet to announce a partner for its sportsbook.

Saratoga Casino, Black Hawk

Betfred, a bookmaker based in the UK, partnered with Saratoga Casino with plans for a full sportsbook in addition to online sports betting services throughout the state.

Tripple Crown Casinos, Cripple Creek

Triple Crown, which owns The Brass Ass Casino, Midnight Rose Casino and McGill's Casino, received a license to operate three sportsbooks, one at each location. Located in Cripple Creek, a partner has yet to be confirmed for the casinos.

Read More Sports Betting Q&As

More Questions To Read
What are some current trends in sports betting?
Betting trends usually refer to what the public is doing. You have two choices, to follow the public or fade the public.
Who benefits from sports betting?
Sports betting not only benefits each state, but it also gives fans another way to enjoy games.
What is a sports betting model?
A sports betting model is a system that can identify unbiased picks to determine the probability for all outcomes in a certain game.
What is a sports betting exchange?
A sports betting exchange allows bettors to bet against each other instead of through a bookmaker.
What are some tips for managing your bankroll when betting on sports?
The most important tip when betting on sports is to limit each bet to be between one and five percent of your bankroll.
Can sports betting be a career?
Yes. Sports betting can be a career if you make it your full-time job and put in the hours.
Can sports betting make you rich?
Sports betting is unlikely to make you rich unless you turn it into a full-time job and become one of the best bettors in the world.
Is sports betting a waste of money?
Sports betting is not a waste of money if you define your goals before making your first wager.
Can sports betting be profitable?
Sports betting can be profitable, but the majority of bettors lose money, which is why sportsbooks exist.
What some simple tips for betting on sports?
A simple tip for betting on sports is to remember that only a small percentage of bettors are profitable in the long run.
What are some good sports betting tips for beginners?
A tip for beginners may be that turning a profit in sports betting is difficult and because you "know sports" doesn't mean you'll be successful.
How do you win at sports betting?
To win at sports betting, one has to put time into studying and researching various aspects of a matchup.
Why should sports betting be legal?
Sports betting should be legal because not only is it another way for fans to enjoy action, but it's also a boost to the economy.
Is sports betting rigged?
Sports betting is not rigged, but it is against your favor because of the vig.
What is the tax rate on sports betting winnings?
When PASPA was overturned in 2018, states began legalizing sports betting and introducing different taxes on revenue.
How do sports betting payouts work?
Sports betting payouts depend on which type of odds are being used.
What is a bookie in sports betting?
A bookie is someone who facilitates gambling by setting odds, accepting and placing bets, and then paying out the winnings.
What are some popular sports betting books?
BetMGM, DraftKings, FanDuel and PointsBet are some of the more popular sportsbooks where sports betting is legal.
Which sports betting site is best?
BetMGM, DraftKings, FanDuel and PointsBet are some of the more popular online sportsbooks where betting is legal.
What is a hedge in sports betting?
A hedge is a method to reduce risk and secure winnings for a specified bet.
What is the spread in sports betting?
The spread, also referred to as the line, is used to even the odds between two unevenly matched teams.
How do sports betting spreads work?
Sports betting spreads, also referred to as lines, are used to even the odds between two unevenly matched teams.
What does hook mean in sports betting?
The hook means a half-point in sports betting.
What is arbitrage in sports betting?
Arbitrage in sports betting is when someone places bets on all possible outcomes of an event at odds that guarantee profit.
Can you arbitrage sports betting?
Arbitrage sports betting is legal, though it's frowned upon by bookmakers.