Yes, sports betting is legal in Colorado. You can now make online sports wagers very easily but there are some key points that you need to know before you get started.
Sports betting has existed for centuries, as people have always loved betting on their favorite sports. For a long time, sports fans in Colorado could not do this, but is sports betting legal in Colorado now?
When Did Sports Betting Become Legal in Colorado?
As of May 1, 2020, sports betting became legal in Colorado. Additionally, you need to be aged 21 or over and be physically present in the state to place wagers in this way, and the legit sports betting sites all make sure that they only accept users who fit the current legal requirements.
Top 10 Facts About Sports Betting in Colorado
- Colorado sports betting officially launched in May 2020, available both online and in retail locations.
- The state allows up to 30 online sportsbooks to operate, all of which must partner with local casinos. All legal operators including CutchBet.
- Voter approval was required for legalization due to the Taxpayer Bill of Rights, with sports betting being legalized in November 2019.
- Individuals directly involved in sports, such as players, referees, and coaches, are prohibited from betting on their respective sports.
- You must be at least 21 years old to place a sports bet in Colorado.
- During the height of the pandemic in 2020, table tennis became a popular sport for betting and has remained a favorite in the state.
- Colorado law does not allow betting on esports, the Oscars, other award shows, high school sports, or any events where most participants are under 18.
- In the first 18 months after sports betting was legalized, Colorado sportsbooks handled over $5 billion in wagers.
- The state permits both online and retail sports betting, with all online sportsbooks required to partner with casinos located in Colorado.
- The legalization of sports betting in Colorado was solidified through a public referendum in November 2019.
Colorado Online Sports Betting History
While the latest laws allowing us to bet on sports in this state are quite new, there is actually a long and fascinating history of sports betting in the past in Colorado. This part of the country was a renowned gambling hotspot back in the 19th century, but it wasn’t until the 20th century that modern laws covering sports betting were first put in place.
It was in 1948 that the Colorado Gambling on Horse and Animal Races Amendment was introduced. This piece of legislation made it possible for pari-mutuel betting to be carried out in the state on horse racing and greyhound races. The Colorado Racing Commission was also formed at the same time to control the industry.
In the following decades, changes to the state gambling laws allowed charitable games such as bingo to be introduced. There was also a brief period of harness racing in the 1970s, but it didn’t turn out to be popular enough to continue. The next major change came with the Colorado Lottery starting in the early-1980s.
Some legalized casino gambling was also allowed, but sports betting became even more limited when greyhound racing was made illegal. So, when did sports betting become legal in Colorado in the way that we now know it? It began with Proposition DD which voters approved in 2019, meaning that there was now legislation in place to allow legal sports betting in the state.
Is online sports betting legal in Colorado, or is it just legal to place wagers physically in certain venues? These new laws allow for sports gambling to take place in the state, both online and in land venues. Licenses were issued to approved online sportsbooks and in 2020 the first of them went live.
Find the best Colorado sportsbook promos here.
What Sports Can You Bet on Online in Colorado?
The next question we need to look at is what sports the current law covers. Is betting legal in Colorado for fans of every sport or just some of them? We can find the answer by looking at the excellent range of sports listed in the ClutchBuzz sportsbook.
It’s no surprise to see the most popular American sports such as football, basketball, and baseball all covered. We can also find many other sports like soccer, tennis, and golf on this list. It’s legal to bet on all of these sports as well as the others listed, with different bet types covering the main wager types in each sport.
Is sports betting legal in Colorado on games involving local teams? Yes, so fans of the Denver Nuggets, the Colorado Rockies, the Denver Broncos and other teams can wager on the outcome of their games without any fuss. But you can also bet on teams or players around the planet.
How to Bet on Sports Legally in Colorado
Is it legal to bet on sports in Colorado on any site? No, because only authorized sites that are regulated by the Colorado Limited Gaming Control Commission offer a legal way of doing this. Therefore, the first step is to look for a reputable sportsbook that guarantees a safe, legal experience.
If we look at the example of ClutchBuzz, we can see that registering as a new user and grabbing one of their promotions is a short and simple process. Naturally, they need to ask for enough of your details to confirm that you can legally bet in the state, but in just a moment you can confirm this and start betting.
If you’re going to bet on sports with real cash, you’ll need to fund your account before starting. Only trustworthy banking methods like PayPal and Skrill are accepted by regulated sportsbooks, so moving in money to bet with real cash is a fast and safe process too.
- After that, you can look through the list of sports to choose what you want to wager on.
- Pick a sport and then you’ll see all of the upcoming games listed.
- When you choose a game, you can then enter a bet amount and automatically see the amount you would win if you get the prediction right.
- Click to confirm the bet.
Colorado Sports Betting Updates
Despite being a reasonable new way of betting, the presence of legal sports betting Colorado residents can enjoy has proven to be a massive success since being introduced in 2020. The state’s sports betting handle has increased enormously since then, as more people have decided to give this a try.
By December 2022, a total of over $9 billion was reached in terms of Colorado’s sports betting handle since its launch. This came as the monthly figure has regularly passed the $500 million mark at the end of 2022 and the start of 2023. Football remains the biggest sport, with major events like the Super Bowl encouraging new bettors to give it a try.
The vast majority of sports wagers in the state are made online rather than in person at a land venue, with mobile betting an increasingly popular option. With no major law changes on the horizon, the industry should continue to grow, while the competitive nature of it helps newcomers to find special offers and promotions that suit them.
Colorado Sports Betting FAQ
When did sports betting become legal in Colorado?
The law that allows this was approved by voters in 2019, with the first legal sports betting sites going live in 2020. The current legislation allows both online bets and physical sports betting at land venues, although the online option has proved to be far more popular.
Can I bet on college sports in Colorado?
Yes, a look through the different sections on the ClutchBuzz website confirms that this is possible. They cover the full list of NCAA basketball games and also cover special tournaments such as March Madness. College football is also covered in this way.
What is the legal age to bet on sports in Colorado?
You need to be aged at least 21 to bet on sports in this state, and that applies equally to online and land-based wagers. The regulated sportsbooks in Colorado make sure that only people who comply with this requirement are allowed to place real money bets.
Can I bet on sports on my phone in Colorado?
Yes, you can use mobile betting if that suits your lifestyle better. The process for registering and placing bets is the same no matter what device you use, and you can switch across devices using the same login details if you want to.
What sports can I bet on in Colorado?
The most popular sports in Colorado are all covered, with the likes of football, basketball, and baseball among the most sought-after options here. MMA, soccer, tennis, and golf are among the other sports that can be found in the state‘s regulated sportsbooks.
Will I have to pay taxes for sports betting winnings in Colorado?
All winnings on sports betting over $600 need to be declared, regardless of whether that’s a single big win or various smaller wins added together. The federal tax rate for gambling profits is 10%, while state taxes are set at 4.55%. You should keep records of your betting activity so that you can check whether you need to pay any taxes on it.
Conclusion
We started by asking is sports betting legal in Colorado, and soon discovered that it is, and that it’s extremely popular. The arrival of legal sports betting in Colorado has opened up a huge new market, with many people in the state looking to take part.
Our look at the laws currently in place has revealed that this is now very easy to do, with respectable online sportsbooks giving people a safe place to place their bets.
This has become a way for sports fans to add some extra excitement when watching games and events. Whether you prefer to cheer on the Nuggets, the Rockies, the Broncos or any other teams, you can do this legally and without any hassle provided that you’re aged 21 or above and physically present in Colorado.
Credits on Featured Image: Daniel Spiess
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