How To Bet On Sports In Colorado: 2023 Guide For CO Bettors

Fact Checked by Lawrence Hollyfield

Welcome to the exhilarating world of sports betting in Colorado. Whether you're a seasoned bettor or a newbie looking to get in on the action, this guide will provide you with everything you need to know about betting on sports in the Centennial State in 2023.

This guide is specifically tailored for beginners, with a focus on Colorado's favorite sports teams, from the Denver Broncos in the NFL and Denver Nuggets in the NBA to the University of Colorado Buffaloes at the collegiate ranks.

Pick From This List Of Recommended Colorado Sportsbooks

You can trust these eight operators, Colorado's best, to deliver competitive odds, ease of use, excitement and customer support. When you are getting into CO sports betting, you don't need to be fighting with a questionable sportsbook.

Verified Offers Verified By Our Experts
1
Best Choice
Caesars Sports
Best Choice
Must be 21+ to participate. T&Cs apply.
2
Must be 21+ to participate. T&Cs apply. Play Responsibly.
3
Bonus Bets Expire in 7 Days. One New Customer Offer Only. Must be 21+ to participate & present in CO. Gambling problem? Call 1-800-GAMBLER. Visit BetMGM.com for Terms & Conditions. US promotional offers not available in NY, NV, or Puerto Rico.
4
Must be 21+ to participate & present in CO. Gambling problem? Call 1-800-GAMBLER. T&Cs Apply.
6
Must be 21+ to participate. T&Cs apply.
7
Patrons must be 21 years of age or older in order to claim the following Offer and must be physically present in the state of Colorado to place a wager.
8
Only persons physically located in the state of Colorado are permitted to wager for real money on https://co.clutchbet.com or in app. Must be 21 and over to hold a registered ADSW account. If you or someone you know has a gambling problem and wants help, call 1-800 GAMBLER. Visit https://www.problemgamblingcoalitioncolorado.org/ to learn more.

There is a lot to take in, but BetColorado.com will give you the information you need not only to learn how to bet on sports but also to choose the right sportsbooks for you. You'll be able to take advantage of multiple welcome offers and then be able to shop for odds if youj open accounts at more than one sportsbook.

How Does Sports Betting Work In Colorado?

Sports betting became legal in Colorado in May 2020, opening a world of opportunities for sports enthusiasts and bettors alike. The state has a fully regulated market, meaning you can place bets at retail sportsbooks at casinos or online via websites and mobile apps.

Sports betting in Colorado works much like it does in other states where it's legal. Bettors can make wagers at retail sportsbooks located at places like casinos or through online sportsbooks and betting apps that are licensed.

The Colorado Division of Gaming oversees the industry, ensuring fair play and the integrity of sports betting. For beginners, this means you can bet with confidence, knowing that the system is regulated and fair with legal promotions such as the Fanatics Sportsbook Colorado promo.

Here's a step-by-step guide to getting started with Colorado sports betting:

Bonus Bets Expire in 7 Days. One New Customer Offer Only. Must be 21+ to participate & present in CO. Gambling problem? Call 1-800-GAMBLER. Visit BetMGM.com for Terms & Conditions. US promotional offers not available in NY, NV, or Puerto Rico.

How Do I Place A Bet On Sports In Colorado?

Placing a bet on sports in Colorado is a straightforward process. Here's a step-by-step guide to get you started:

  • Choose a Reliable Sportsbook: Not all sportsbooks are created equal. Look for one that is licensed and regulated by the Colorado Division of Gaming, has a good reputation and offers a wide range of sports and bet types. For example, if you're a big Denver Broncos fan, you'll want to choose a sportsbook that offers extensive NFL markets (including futures bets on the Denver Broncos' Super Bowl odds).
  • Explore Colorado Sportsbook Promos: Many sportsbooks offer promotions and bonuses to attract new customers and keep existing ones engaged. These can range from welcome bonuses to free bets, risk-free bets and more. For instance, a sportsbook might offer a promotion tied to a Denver Nuggets game, providing an added layer of excitement while watching the action.
  • Create an Account: Once you've chosen a sportsbook, you'll need to create an account. This typically involves providing some personal information and agreeing to the terms and conditions. It's a simple process that usually takes just a few minutes.
  • Deposit Funds: After setting up your account, you'll need to deposit funds. Most sportsbooks offer a variety of payment options, including credit/debit cards, bank transfers, and e-wallets. Choose the method that's most convenient for you.
  • Explore Betting Markets: Now comes the fun part – exploring the betting markets. You'll find a wide range of available sports, from football and basketball to golf and motor racing. If you're a fan of the Colorado Rockies, for example, you can explore the MLB markets.
  • Understand Betting Lines: Before placing a bet, it's important to understand betting lines – the odds set by the sportsbook like ESPN BET Colorado. These determine how much you stand to win based on the amount you wager. If you're new to sports betting, take some time to learn how these work before placing your first bet.
Betting Lines

How Do I Read Betting Lines?

Betting lines, also known as odds, are the backbone of sports betting. They indicate the probability of a particular outcome and the potential return on your bet. There are three main types of odds used in sports betting: American odds, fractional odds, and decimal odds. Understanding how to read these odds is crucial if you want to become a successful bettor.

For example, if you visit Caesars Sportsbook Colorado because the Avalanche is playing, and the betting line (or odds) for Colorado to win is -150, this means the Avs are the favorite to win. You would need to bet $150 to win $100. On the other hand, if the Avs' odds were +150, they would be the underdogs, and a $100 bet would win you $150.

How Much Should You Wager On A Bet?

Deciding how much to wager on a bet is a personal decision and should be based on your individual circumstances. Here are 4 key tips to help you make that decision:

1️⃣  Set a Budget:  Determine how much money you're willing to risk on Colorado sportsbook apps. This should be an amount you can afford to lose. Remember, sports betting should be fun, not a source of stress.
2️⃣  Determine Unit Size:  Your unit size is a set percentage of your betting budget, typically between 1% and 5%. This helps you manage your bankroll effectively. For example, if your betting budget is $500 and you decide on a unit size of 2%, your bet size would be $10.
3️⃣  Assess Confidence Level:  The more confident you are about a bet, the more you might decide to wager. However, it's important to keep your unit size in mind. If you're extremely confident that the Air Force Falcons will win outright in their next game, you might decide to increase your bet size.
4️⃣  Start Small: If you're new to sports betting, it's a good idea to start small and gradually increase your bets as you gain more experience and confidence. This will allow you to get a feel for how sports betting works without risking a large amount of money.

Must be 21+ to participate & present in CO. Gambling problem? Call 1-800-GAMBLER. T&Cs Apply.

Choosing The Right Sportsbook For Colorado Sports Betting Beginners

Choosing the right sportsbook can make or break your sports betting experience. Here are some factors to consider:

  • What Sports Do You Want To Bet On? Different sportsbooks generally offer different sports. Make sure the sportsbook you choose offers the sports you're interested in betting on. For example, if you're a fan of Coach Prime and the University of Colorado Buffaloes, you'll want to choose a sportsbook that offers extensive college football betting options.
  • Is There A Specific Bet Type You Want To Try? From moneyline bets to parlays, different sportsbooks may offer different bet types. Make sure the sportsbook you choose offers the bet types you're interested in. For instance, if you're interested in placing a prop bet on a Colorado State University Rams basketball game, you'll need to find a sportsbook that offers college basketball prop bets.
  • Bonuses & Promotions Bonuses and promotions can add extra value to your sports betting experience. Look for sportsbooks that offer generous and regular bonuses and promotions. For example, bet365 CO Sportsbook, which has a partnership with the Rockies, might offer a bonus for betting on Colorado Rockies games.
  • Security Security should be a top priority when choosing a sportsbook. Make sure the sportsbook you choose uses the latest security measures to protect your personal and financial information. This is particularly important when you're making deposits and withdrawals.

Types Of Colorado Sports Bets

There are several types of bets you can place on sports in Colorado. Here's a quick rundown:

  • Moneyline A moneyline bet is the simplest type of bet. You're simply betting on which team will win the game. The favorite is represented by a minus (-) sign, while the underdog is represented by a plus (+) sign. For example, if the Denver Broncos are playing the Las Vegas Raiders, and the Broncos are the favorites, the moneyline might look something like this: Broncos -150, Raiders +130.
  • Spread A spread bet involves betting on the margin of victory in a game. The favorite is expected to win by a certain number of points, while the underdog is expected to lose by a certain number of points. For example, if the Denver Nuggets are 7.5-point favorites against the Los Angeles Lakers, they would need to win by 8 or more points for a bet on them to pay out.
  • Over/Under An over/under bet, also known as a totals bet, involves betting on the total number of points scored in a game by both teams combined. For example, if the total for a Colorado Rockies vs. Los Angeles Dodgers game is set at 8.5, you can bet on whether the combined score will be over or under that number.
  • Parlay A parlay bet involves combining two or more bets into one. All of the bets must win for the parlay to win, but the potential payout is much higher. For example, you could place the following three-leg parlay: - Avalanche to win - Broncos to cover the spread - Nuggets-Suns total to go over If you choose to place a parlay bet, make sure to keep tabs on your bet slip as games end. If both the Avalance and the Broncos win and cover the spread, respectively, often sportsbooks will offer a cash out option prior to the Nuggets game ending. This gives you the opportunity to make sure you win a good portion of your bet prior to it possibly losing.
  • Prop Bet Prop bets, or proposition bet, involves betting on specific events within a game, such as which team will score first or how many touchdowns a player will score. For example, you could place a prop bet on the Buffaloes' quarterback to throw for more than 250 yards in a game.
  • Live Betting Live betting, or in-play betting, involves placing bets on a game that's already in progress. This can add an extra layer of excitement to watching a game. For example, if Colorado State is down by a touchdown at halftime, you could place a live bet on it to make a comeback.
  • Futures Futures bets involve betting on events that will happen in the future, such as who will win the Super Bowl or who will be named MVP. For example, before the NFL season starts, you could place a futures bet on the Denver Broncos to make the playoffs. You could also place a bet on QB Russell Wilson's next team odds, should they be available at a legal sportsbook.
Must be 21+ to participate. T&Cs apply.

Features At Available Sportsbooks

When choosing a sportsbook, consider the following features:

Easy Payment Options

Look for sportsbooks that offer a variety of easy and convenient payment options. This can make it easier to deposit funds and withdraw your winnings. Some sportsbooks in Colorado even offer the option to make deposits and withdrawals at the casino cage of their retail partner.

The Sports Market

The best sportsbooks offer a wide range of sports and betting markets. Whether you're interested in betting on the NFL, NBA, MLB, NHL, college sports or even international sports such as soccer and rugby, you should be able to find a sportsbook that caters to your interests.

Odds Offered

Competitive odds can make a big difference to your potential winnings. Different sportsbooks may offer different odds on the same game, so it's worth shopping around to find the best value.

Customer Support

Good customer support can be invaluable, especially if you're new to sports betting. Look for sportsbooks that offer support via a variety of channels, including live chat, e-mail, and phone.

Most Popular Sports To Bet On In Colorado

Here are some of the most popular sports to bet on in Colorado:

  • NBA Betting Basketball is another popular sport to bet on, with the NBA offering plenty of exciting action. Colorado is home to the Denver Nuggets, 2023 NBA Champions. From predicting the outright winner to betting on the total points scored, NBA betting offers a wide range of options. You can bet on any team. NBA betting is No. 1 in Colorado, so expect Colorado betting promotions as the season progresses.
  • NFL Betting The NFL is the most popular league to bet on in the United States. Whether you're betting on the Broncos playoff odds or another team, you'll find a wide range of betting options. From moneyline bets to prop bets, there's something for everyone in NFL betting.
  • NHL Betting Hockey is a big deal in Colorado, home to the Colorado Avalanche. NHL betting offers plenty of opportunities for bettors. Whether you're betting on the winner of a game or the total goals scored, there's plenty of action in NHL betting.
  • MLB Betting Baseball fans can enjoy betting on MLB games, including those involving the Colorado Rockies. Whether you're predicting the outright winner or betting on the total runs scored, MLB betting offers plenty of excitement.
  • Golf Betting Golf betting is growing in popularity, with a range of tournaments and betting options available. From betting on the winner of a tournament to predicting the top 10 finishers, golf betting offers a unique challenge.
  • College Sports Betting Betting on college sports, including football and basketball, is also popular in Colorado. Whether you're a fan of the University of Colorado Buffaloes, the Air Force Falcons, or the Colorado State University Rams, you'll find plenty of betting options in college sports.

Tips For Sports Betting In Colorado

Here are some tips to help you get the most out of your sports betting experience in Colorado: 

📈  Lines Are Always Moving

Betting lines can change based on a variety of factors, including injuries, weather, and betting action. Keep an eye on the lines to ensure you're getting the best value. For example, if a key player for the Denver Broncos is injured during the week, the betting line for their next game may move in favor of their opponent. Following Colorado sports betting news can help.

🙌  Shop For The Best Line

Different sportsbooks may offer different lines on the same game. Shopping around for the best line can help you maximize your potential winnings. For example, if the Denver Nuggets are 5-point favorites at one sportsbook and 4.5-point favorites at another, betting at the second sportsbook gives you a better chance of winning your bet. Or if the Nuggets' odds to win the Finals are +425 at one sportsbook but +450 at another, you'll definitely want to maximize your potential winnings by betting on the +450 line.

💪🏼  Identify Your Strengths (And Weaknesses)

Are you good at predicting game outcomes, or are you better at predicting individual player performances? Identifying your strengths can help you focus your betting strategy. For example, if you're good at predicting how individual players will perform, you might want to focus on prop bets.

🔝  Set A Betting Limit

Setting a betting limit can help you manage your bankroll and prevent you from chasing losses. Remember, sports betting should be fun, not a source of stress.

The Emergence Of Legal Sports Betting In Colorado

Sports betting became legal in Colorado in May 2020, opening a world of opportunities for sports enthusiasts and bettors alike. The state has a fully regulated market, meaning you can place bets at retail sportsbooks in casinos, or online via websites and mobile apps.

The Colorado Division of Gaming oversees the industry, ensuring fair play and the integrity of sports betting. For beginners, this means you can bet with confidence, knowing that the system is regulated and fair.

The legalization of sports betting in Colorado was a significant milestone for sports fans and bettors in the state. It opened a new avenue for Colorado sports fans to engage with their favorite sports and teams. Whether you're a die-hard Denver Broncos fan or an avid follower of the Colorado Rockies, legal sports betting in Colorado has something for everyone.

The Rise Of Online Sports Betting In Colorado

With the advent of legal sports betting in Colorado, online sports betting has seen a significant rise. The convenience of placing bets from the comfort of your home or while on the go has made online sports betting a popular choice among Colorado sports bettors.

Colorado online sports betting operates under the same regulations as retail sports betting to ensure a safe and fair betting environment. Whether you prefer betting on your computer or via mobile sports betting apps, Colorado's online sports betting market caters to all preferences.

Author

Tyler Olson has worked in sports media for over a decade, writing, editing, and optimizing primarily NFL and sports betting content. His primary focus is giving users in the states of Colorado, Louisiana, and New York the most up-to-date information on these states’ operators and sharing the latest promo code offerings they have to offer.

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