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Colorado sports betting starts today as the Centennial State welcomes a handful of online sportsbook apps, with many more to follow.
Legal online sports betting in Colorado opens while most sports remain shut down. Six CO sports betting operators are cleared to launch Friday, although just four of those plan to go live.
These CO sports betting went live May 1 at 10 a.m. Mountain time:
Earlier Thursday, Monarch Casino‘s self-branded app through Stadium Technology‘s platform and Smarkets‘ SBK became listed to launch by Colorado sportsbook regulators.
There are 13 other Colorado sports betting apps licensed by state regulators that are pending launch:
All licensed and operational sports betting operators will be listed at the Department of Revenue‘s website.
CO sports betting apps can be downloaded directly to a smartphone. Colorado state regulations allow customers to create and fund sports betting accounts remotely.
This separates Colorado from other states where bettors must go to a casino to register for an online sports betting account. These rules lead some analysts to believe as much as 85% of sports betting in CO might take place on mobile devices.
Keep in mind that bettors must be located physically within state borders to bet on sports in Colorado. Geolocation technology within your device will verify your location.
State law places few limitations on sports betting in Colorado.
The first available wagers likely will be for the upcoming UFC 249 event and NASCAR‘s planned return in mid-May. Some books likely will post horse racing as well, as it remains one of only a few consistent options during the coronavirus pandemic.
State gaming director Dan Hartman brought one rule change to the Limited Gaming Control Commission that clarified what bet types sportsbooks in Colorado can take on NCAA sports.
The legislation that authorized sports betting in Colorado banned prop wagers on college sports. Colorado’s new definition now makes it clear that a prop bet involves an individual participant or position on a team sport.
That means other wagers, such as quarterly over/unders, will still be allowed.
The CO sports betting market could give the best example to date of how the overall US sports betting market could play out. The more than 30 licenses, 10% revenue tax and remote registration creates a solid playing field for the strongest operators to win market share.
PlayColorado.com estimates the market could see up to $6 billion in handle and $400 million in revenue at maturity.
Naturally, sports betting could get off to a slower start than expected without major sports for a few months after launch. But when sports return, the state could show some of the preferences of the US market considering the different operating models that will be seen.
Colorado also offers a substantial catalog of approved sports betting markets that include some currently available sports like esports, darts and table tennis.