Colorado

Long known for its beautiful landscapes and perfect climate for winter sports fanatics, Colorado is also becoming one of the biggest states in the U.S. when it comes to sports betting. Over a dozen legal mobile betting apps are available, along with retail casinos.

Whether CO residents want to bet on Deion Sanders and the Colorado Buffaloes or the Avalanche, they can do so legally on 13 different mobile betting platforms or in retail casinos across the state.

Outside of football, hockey, and the countless other markets legally available to bet on, CO residents can wager on horse and greyhound racing. Daily fantasy sports are also an option for residents in the state who prefer to make money off fantasy football best ball drafts instead of betting point spreads.

DraftKings DFS and FanDuel DFS reign supreme in the state, but residents can also find a wide range of other options, including PrizePicks, Underdog, OwnersBox, ParlayPlay, and Boom Fantasy.

Online sports betting in The Centennial State

In 2019, House Majority Leader Alec Garnett produced a sports betting bill, HB 1327, which made it through both chambers of the state’s general assembly and was brought to a vote. The bill survived the vote by a narrow margin, and just like that, Colorado became yet another state to offer both online and retail sports betting.

If a Colorado bettor does not like a specific sports betting app, they are in luck because they have over a dozen to test out. Colorado has not been shy about handing out licenses to operate in the state, as 13 legal betting apps are currently available for download in either the App Store or Google Play Store.

These sportsbooks range from prominent names like DraftKings, Caesars, BetMGM, and FanDuel to some lesser-known sportsbooks like BetMonarch. Only a few betting apps have been available since sports betting went legal in the state in 2020, as sportsbooks launched in CO in 2021.

Most states only allow up to ten licenses to be out simultaneously, but that is not the case in Colorado. If a sportsbook is growing or just hitting the market, there is a good chance it will find its way into Colorado.

For example, in 2023 alone, both ESPN Bet and the Fanatics Sportsbook went live in CO immediately after being introduced to the market. State law allows up to ten more sportsbooks to join the market, so CO hasn’t even reached its limit on available apps.

All legal CO sports betting apps in 2025 (from newest to oldest):

Closed online sportsbooks

Sports betting & gambling legislation in CO

Sports betting would officially launch in CO in May 2020; however, it wouldn’t be long before COVID-19 shut everything down. Despite the virus causing many issues for retail sportsbooks, over 15 mobile betting apps had launched in the state by the end of the year, setting CO up to hit the ground running once sports resumed.

Since then, Colorado has seen a few sportsbooks enter the market and shut down or be absorbed by bigger shops. As the movement continues within CO in terms of operating, we will likely see many more changes in the future.

Amid all the volume customers can access, they must also follow state guidelines regarding betting laws, which include being 21 or older to create a mobile betting account or wager in person at a retail location. These bettors are subject to a 4.40% tax rate on winnings. These winnings are also subject to a federal gambling tax rate of 24%.

Whether a customer wants to use a sportsbook mobile app or web platform, they must be within the state's borders to legally place bets. The bright side is that bettors do have the option to remote registration, so they can create an account on these apps from their residence. The Colorado Division of Gaming enforces these and all other gambling rules.

Most recent updates from the CO sports betting scene

• January 22, 2025: With Shedeur Sanders and Travis Hunter leaving the program, the Colorado Buffaloes have opened at (+10,000) to win the 2025-26 National Championship.

• January 14, 2025: Deion Sanders has heard from the Dallas Cowboys about their open head coach position, but he remains committed to the Buffaloes. Coach Prime and Colorado have opened at (+10,000) to win the 2026 National Championship.

• January 6, 2025: In their first playoff game since the 2015 season, the Denver Broncos will head to Buffalo to play the Bills as (+8.5) point underdogs.

• December 27, 2024: Trying to book a trip to the postseason, the Denver Broncos will head to Cincinnati in week 17, where they will play the Bengals as (+3.5) point underdogs.

• December 20, 2024: Even after their loss on Thursday Night Football, the Denver Broncos are still (-550) to make the NFL playoffs.

• December 16, 2024: Colorado Buffaloes star Travis Hunter won the 2024 Heisman Trophy after starting the season with (+6500) odds to do so.

• December 9, 2024: In what will be Travis Hunter and Shedeur Sanders' final game at Colorado, the Buffaloes will play BYU in the Alamo Bowl. The Buffaloes are currently (-2.5) point favorites.

• December 4, 2024: After picking up another win on Monday Night Football, the Denver Broncos are (-250) to make the NFL playoffs.

In-person sports betting sites and locations

Much like online sports betting, bettors in CO have an excellent variety of options when it comes to retail betting, as there are currently 33 casinos in the state. Since each casino has the option to partner with a different sportsbook operator, the quality of the sportsbook may vary depending on the casino.

Many of these casinos were open long before the state officially launched sports betting in 2020, so they were well-versed in the gambling world before offering sports betting on their property.

Sports betting in neighboring states

Sports bettors who live in Colorado are set when it comes to market variety, but if they happen to travel to the states near them, that changes fairly quickly. By clicking on the states down below, you can see how surrounding areas are fairing in the sports betting industry.

Sports betting revenue impact on Colorado's economy

With Colorado's huge market, it's unsurprising that the state's monthly betting handle consistently averages around $400-500 million and results in $30-40 million or more in revenue, with the busiest months topping such figures quite substantially.

In addition, due to the number of operators in the market, the state also sees a pretty penny in monthly tax revenue. The Colorado state gambling bill, HB 1327, allows sportsbooks that partner with an in-state casino to obtain a license. All sportsbooks in the state are taxed at 10%, which adds up quickly every month. As of January 2025, the total tax income of legal sports betting has just crossed $100 million.

The state has three licenses, including a master license, sports betting operator license, and internet sports betting operator license. The state’s 33 casinos apply for the master license, which requires a $10,000 up front fee and a two-year $125,000 licensing fee. Once the license is acquired, these casinos can partner with a land-based or strictly online sportsbook.

Colorado sports betting record months:

• Sports betting handle: December 2023 ($716,430,270)

• Revenue: November 2024 ($55,666,474)

• Tax Income: January 2024 ($4,128,369)

Latest CO sports betting revenue report breakdown (November 2024)

Reported by the Colorado Department of Revenue.

• Total betting handle: $647,951,807

  • Mobile betting handle: $643,948,737

  • Retail betting handle: $4,003,069

• Winnings Paid to Players: $592,285,332

  • Hold: 8.59%

• Gross revenue: $55,666,474

  • Adjusted revenue: $40,557,004

• Tax revenue for the state: $3,958,611

What sports did CO bettors wager the most in Nov 2024?

1. Pro football ($161.5m placed bets)

2. Basketball ($148.4m)

3. College football ($43.5m)

4. College basketball ($29.9m)

5. Tennis ($23.5m)

6. Soccer ($20.6m)

7. Table tennis ($17.2m)

8. Hockey ($16.5m)

Recent revenue report data - Compared to the previous year (YoY)

CO sports betting revenue in 2024

Colorado's sports betting revenue, total handle as well as the state's tax income are all gathered in the following table for the present 2024 year. The percentage in brackets shows the MoM change compared to the previous month's figures.

Yearly revenue data