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Colorado voters approved legal sports betting throughout the Centennial State in November 2019.
Soon, people in Colorado will be able to wager while anywhere within the state’s borders on CO sports betting apps.
Here is more of what you need to know about Colorado sports betting to get ready for the anticipated May 1 launch of legal sportsbooks:
After the Colorado state legislature approved a sports betting bill in summer 2019, voters had their say on the matter in November. More than 1.3 million people voted and Colorado sports betting passed by about 20,000 votes.
Colorado law required the referendum because of a restriction on implementing new taxes known as a Taxpayer Bill of Rights (TABOR.) Any measure that will increase taxes on Colorado residents must receive a popular vote.
State regulators hope to make legal Colorado sports betting available by May 2020.
Just because regulators are ready, though, does not mean that’s when CO sports betting apps will become available. Operators still must receive approval for their products to go live in the market.
This week's recap of sports betting news includes a delayed launch in DC and potential ghost game data distributed by Betgenius.
Gaming regulators approved 32 more licenses related to Colorado sports betting, including six online operators and eight casinos.
Colorado sports betting offers the levelest playing field of any US market yet, and success here could prove telling about the future for the industry.
Apps will be available throughout the state for betting on sports in Colorado. That means you will be able to bet directly from your smartphone or tablet as long as you are physically located within Colorado. You will not need to be a state resident to bet on CO sportsbook apps.
There are no guarantees on who will offer a sportsbook in the state, although some have announced intentions to enter sports betting in Colorado. A number of the operators we’ve seen go live elsewhere in the US are good candidates as well:
This is not necessarily an exhaustive list of potential CO sportsbooks, as more could be added over time. Your device will use geolocation technology to verify that you are within Colorado before allowing you to wager on any of these sportsbook apps.
Here are some of the other details. The bill creates three types of licenses:
Each of Colorado’s 33 casinos can apply for a master license. The cost of that two-year license remains to be determined.
An approved casino then could partner with a land-based operator and an internet operator (or use the same partner for both) and utilize one online/mobile platform.
A 10 percent tax rate creates an industry-friendly climate for CO sports betting. Both esports and high school sports would be banned under current law and regulation.
The state has legalized Colorado sports betting, but it’s not yet legal to place wagers in the state. That will happen when the state authorizes and vets sportsbooks who apply for licensure.
The target date for Colorado regulators to launch sports betting in the state is May 2020. This should be the first date that operators are allowed to launch their sports betting apps, provided they have received approval from the state to do so.
That does not mean all Colorado sportsbooks will open in May. That is only the initial date state regulators plan to make it possible for operators to launch their products.
The Colorado Division of Gaming will have oversight over sports wagering. This division of the state government also is in charge of implementing regulations to govern day-to-day activities of sports betting in Colorado.
Those initial CO sports betting regulations were established in early 2020 and should be full ready long before the spring launch date.
Placing a bet will be legal anywhere within the state’s borders. If you are not located in Colorado while using a sportsbook app, you will not be able to place a wager, even if you are a Colorado resident.
Your phone or device must be able to verify where you are located when attempting to place a bet in Colorado. That will take place using the same type of geolocation technology used by navigation apps such as Waze and Google Maps.
There also are three mountain towns where Colorado casinos are legal that could add retail sportsbooks.
Yes. Sports betting in Colorado will be possible via your phone or tablet.
There also will be retail sportsbooks in the mountain towns of Black Hawk, Central City, and Cripple Creek, in addition to statewide access via mobile apps.
Any of the state’s 33 casinos to attempt to get a license through state regulators. Each can partner with one online/mobile brand.
This means popular sports betting apps such as DraftKings Sportsbook and FanDuel Sportsbook will be available in Colorado. Recognized brands from throughout the country plan to take part in CO sports betting.
The legal sports gambling age in Colorado is 21 years old.
As is the case in other states, people will close affiliations to sports teams (players, coaches, trainers, team officials, etc.) will be restricted from betting. This is because these people potentially have information about or the ability to influence the outcome of a game.