Online Sports Betting in Colorado
Colorado has quickly become one of the most vibrant and competitive markets for online sports betting in the United States. Since legalizing sports betting in May 2020, Colorado has embraced both online and in-person wagering, attracting a wide range of sportsbooks and offering bettors numerous options. Known for its diverse sports culture, Colorado provides a well-regulated environment that appeals to both casual and serious bettors. This page provides an overview of the legal landscape for online sports betting in Colorado, including key facts, statistics, and answers to frequently asked questions.
Key Facts and Stats
- Current Status: Online sports betting is fully legal in Colorado, with a wide range of licensed operators offering mobile and online wagering options.
- Legalization Date: Colorado voters approved Proposition DD in November 2019, which legalized sports betting in the state. The first online sportsbooks launched in May 2020.
- Licensing: Colorado has issued licenses to over 20 online sportsbooks, making it one of the most competitive markets in the country. Major operators like DraftKings, FanDuel, BetMGM, and Caesars are all active in the state.
- Market Size: Colorado’s sports betting market has grown rapidly, with billions of dollars in wagers placed since its launch. The state consistently ranks among the top states for sports betting handle.
- Tax Revenue: Sports betting revenue is taxed at a rate of 10% in Colorado. The funds generated are used primarily for the state’s Water Plan, which focuses on conserving and managing water resources.
- Diverse Betting Options: Colorado offers one of the most diverse arrays of betting options in the U.S., including professional and college sports, international events, and niche markets like esports and motorsports.
Frequently Asked Questions
1. Is online sports betting legal in Colorado?
Yes, online sports betting is fully legal in Colorado. Bettors can place wagers through a variety of licensed mobile apps and websites.
2. Which sportsbooks are available in Colorado?
Colorado has a wide range of licensed sportsbooks, including popular platforms like DraftKings, FanDuel, BetMGM, Caesars, PointsBet, and many others. The state offers one of the most diverse selections of online sportsbooks in the country.
3. Can I place in-person bets in Colorado?
Yes, in-person sports betting is available at casinos located in Colorado’s gaming towns, such as Black Hawk, Central City, and Cripple Creek. These venues offer sportsbooks where you can place bets on various sports and events.
4. What sports can I bet on in Colorado?
Colorado allows betting on a wide variety of sports, including professional and college sports, international competitions, and niche markets like esports, motorsports, and even non-sporting events such as entertainment awards.
5. Are my winnings from online sports betting taxable in Colorado?
Yes, winnings from online sports betting are subject to both federal and state taxes. You are required to report your gambling winnings as part of your income when filing your taxes.
6. How does Colorado regulate online sports betting?
Online sports betting in Colorado is regulated by the Colorado Division of Gaming. The division oversees all sports betting activities, ensuring compliance with state laws and regulations, and maintaining a secure environment for bettors.
Conclusion
Colorado’s online sports betting market is one of the most dynamic and rapidly growing in the United States. With a competitive selection of licensed sportsbooks and a broad range of betting options, Colorado offers something for every type of bettor. The state’s commitment to regulation and consumer protection ensures a safe and enjoyable betting experience. Whether you’re a seasoned bettor or new to the game, Colorado provides a top-tier environment for sports betting enthusiasts. As the market continues to expand, Colorado is set to remain a leading destination for online sports wagering.
Explore More State-by-State Laws
States highlighted in green show where online betting is currently permitted. Discover the legal landscape across the U.S. by exploring our interactive map.