As of November 2019, Colorado joined the growing list of states offering legal sports betting. While sports betting has been restricted in most US states for several years, a recent change to federal law has meant that states are now free to legalize and regulate sports betting. This means that all across the US, more sportsbooks, both online and retail, are opening up for betting.
Online sports betting in Colorado is controlled by the Colorado Division of Gaming. If you want to bet legally, you’ll need to choose a site or sportsbook licensed by this government agency. The first online sports betting sites were launched in May 2020, and since then, several new sites have begun to accept Colorado residents and visitors to the state.
Rules for Betting in Colorado
While legal betting in Colorado is now available, there are still some rules on how and where you can bet. If you want to stay safe while placing bets, it’s a good idea to remember the rules and follow them, as they’ve been put in place to protect bettors.
- You must be at least 21 years old to bet – To protect minors, the state has put an age restriction in place. You’ll need to be at least 21 years old to place a bet, and all sites and sportsbooks will check your ID before you can sign up or make a bet.
- You have to be within the state lines to place a bet–While betting is growing in popularity, different states still have different rules. You won’t be able to visit and use a Colorado online sportsbook unless you’re within the state borders. Online sportsbooks use geolocation tools to check that you’re in Colorado when you place a bet.
- Mobile betting is permitted – Most major online betting platforms are compatible with mobile devices, letting you place bets wherever you go. You can also download a dedicated betting app to your phone for a smoother betting experience.
- If betting online, the site needs to be licensed by the Colorado Division of Gaming – Some players may be tempted to sign up to off-shore betting sites, and while these may sometimes advertise lots of great odds, there’s no way to ensure that the site is safe. When you bet at a sportsbook licensed by the Colorado Division of Gaming, you can be sure that your money is safe.
- High school sports and proposition bets on college sports aren’t allowed – To preserve the integrity of these sports, bets aren’t accepted in certain cases. You also can’t bet on eSports that aren’t sanctioned by a sports governing body.
Betting Odds in Colorado
The odds you can find at sportsbooks in Colorado can vary a lot. Generally, Colorado sportsbook odds will follow those offered by other states, such as Nevada. However, this doesn’t mean that there isn’t any variation in lines. Sportsbooks will often offer better odds than those available at other sites, as this is a great way to attract new bettors.
If you want to find the best odds, we recommend looking around and signing up to as many different sportsbooks as possible. Depending on the sports you like to bet on, you can find quite a lot of variation between different sportsbooks in Colorado. Big leagues such as the NFL, NBA, NHL, and MLB are less likely to feature many variations in the odds, but if local teams are playing, you can often find some good value in a promotion.
Another good way to find good value in the odds is to look at different betting markets. Most sites will offer over-under, moneyline, and parlays. You can also look into proposition bets and in-game bets. In-game bets allow you to place bets live while the match is in-play. These live bets add some extra excitement to a live game and let you make more informed betting decisions while the match is in play.
Finally, some Colorado online sportsbooks will also offer the chance to cash out your bets. You can collect a portion of your winnings before the game is over or cut your losses and recover some of your stakes if your bet is losing.