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There are at least 25 online sports betting operators having been licensed and currently open for business, new players in Colorado are likely wondering where to start.
With so many options to choose from, Colorado sportsbooks use promos and welcome bonuses to attract new players. These are designed to give players a greater incentive to bet at the online sportsbook.
There is a multitude of different Colorado sports betting bonuses and codes from which to choose, and we will go over the best ones below.
Are Colorado Sportsbook Promos Worth It?
Unless you’re not a fan of receiving some additional benefits to your online sports betting experience (with some caveats that we’ll get to), then yes, Colorado sportsbook promos are worth it.
These provide things such as deposit matching, risk-free bets, and more. This is all to enhance the experience and hopefully provide more upside to put money in your pocket.
Best CO Sports Betting Sites With Signup Bonuses
Colorado is home to so many online sportsbooks that it can be quite a concerted effort to browse around to find the best signup bonuses.
Not to worry, though, as we’ve put together a shortlist of some of the best sportsbooks and bonuses available.
Below are the top-five welcome offers right now, varied by type and also prospective kinds of players.
Caesars Sportsbook is offering new players a risk-free wager up to $5,000. With a risk-free bet, you will receive the money back should the qualifying wager lose, but as site credits. The site credit must be used within 30 days.
For risk-free wagers, this is atop the rankings. An offer of $5,000 is unheard of and should be taken advantage of as soon as possible.
The BetRivers offer is definitely catered much more toward a newer/casual player. BetRivers Sportsbook offers a deposit match up to $250, with a 1x playthrough.
There are other welcome offers that will have deposit matches, but the 1x requirement will always be a key selling point. That’s an incredibly easy bonus to achieve.
Combining free bets and deposit bonuses seems like a fantastic idea, doesn’t it? Well, Superbook did just that.
Available up to $750, players will receive free bets as a first deposit match. So, if you deposit $500, you will receive $500 in free bets. After this, when wagering, your wager will consist of 50% cash and 50% bonus funds.
For example, if you wager $100 on a game with (+110) odds, $50 will be cash and $50 will be from the bonus. Should you win, you’ll receive the winnings, minus the free bet. In this case, that would be $60 back total instead of $110.
In doing this, players will have the potential to receive even more money in their virtual wallets.
MaximBet offers a classic deposit bonus match. At a 100% rate, players will be able to receive a match up to $1,000.
While this is a solid amount of money (fairly on par with other deposit bonuses), what makes this offer so appealing is the 1x playthrough requirement. This is unusual for a welcome bonus with this much monetary upside. Usually, this would be 10x or more.
For lower-stakes players, SI Sportsbook offers a welcome offer that won’t stack up monetarily, but is something for players who don’t want to deposit or wager hundreds of dollars.
SI Sportsbook is offering $50 in free bets after placing your first bet of $10 or more on contests with (-200) or longer odds. Sometimes players want to wager around $10-$50. That’s where this welcome offer helps players of this stature.
This is an important kind of sportsbook to have amidst the other insanely lucrative upside offers.
CO Sportsbook Promo Code vs Bonus Code
Oftentimes with online sports betting, you’ll see the terms “promo” or “bonus”. You’ll even see them intermittently throughout this article.
While these may seem to be different terms, they’re actually interchangeable in the context of these types of offers.
Do You Need A Colorado Promo Code?
For most promo offers, players will not actually need any kind of promo code. However, in the offers we mentioned above, two of the five online sportsbooks ask for promo codes.
Always be sure to read the welcome offer closely. For welcome offers with promo codes, you will likely need to include these during the signup phase.
Best Colorado Sports Betting Promos
With so many sportsbooks in Colorado, there are myriad different promo offers. Below, we’ll rank them in order of superiority.
Deposit Match-Free Bets Hybrid
As mentioned with Superbook, if you’re able to receive free bets that are matched to your initial deposit, that is a win-win. In this circumstance, you’re not subjected to the 10x playthrough like with traditional deposit matches.
Some would argue that risk-free bets belong higher in these rankings. That isn’t necessarily anything I’d disagree with.
Risk-free bets are great in that if you win the bet, then you just enjoy the winnings. However, the downside is that “risk-free” doesn’t mean you receive the money back in cash.
Rather, you receive the funds back as bonus site credit. It stays in the ecosystem. So, either way, you are committed to using that money at the sportsbook no matter what.
CO Sports Betting Deposit Match
Depending on how much you plan to play at the online sportsbook and what your budget is, deposit matches give players the flexibility to manipulate the bonus offer to their advantage.
While some sportsbook deposit bonus matches may have high playthrough amounts, you can look at the parameters and see what you are able to complete to attain the bonus deposit match funds.
Free bets in and of themselves are great! However, like SI Sportsbook, the free bets are usually lower amounts of monetary upside, thus limiting. Now, when it’s combined with a deposit match or risk-free bonus, it makes it the most intriguing.
Due to the usually smaller amount, free bets are a bit down on the list.
CO Sports Betting No-Deposit Bonus
No-deposit bonus offers are just for signing up at an online sportsbook. These are usually in small increments, typically no more than $25.
These also have a playthrough requirement, usually only 1x, but still something to keep in mind.
Bet & Get
These tend to be the least favorite form of promo offers. These are like deposit matches, but instead of receiving the funds upfront, players need to wager on the site to get a portion of the bonus.
For example, DraftKings is $25 to get $1 in bonus funds.
How To Pick the Best CO Sportsbook Promos
When selecting a promo offer, it is important to keep the rankings above in mind, but those don’t tell the whole story.
Underneath the general offer, there are other tedious bits of terms and conditions jargon to keep an eye on.
On most bonus offers, there can be odds restrictions. This is to prevent players from simply wagering on something that is almost a guarantee (like -1500 odds) or something so outlandish that could incur a massive monetary responsibility for the online sportsbook (+15000 or more).
So, if you plan to wager on something that’s almost sure to cash, keep this in the back of your mind.
These are arguably the most important aspect of bonus offers to keep in mind. This is the number of times in which you must wager either the deposit, bonus, or them combined, multiplied by anywhere from 1x-50x, and so on.
So, if you see a welcome offer that is a 20x playthrough, you will need to wager whatever the stipulation is, multiplied by 20 to gain access to the bonus funds.
A lot of times, these promo offers have a time limit of anywhere from 30-90 days. Of course, the more time, the better.
However, it would be unfortunate if you missed out on an offer due to going over the time limit.
How To Use Colorado Sportsbook Bonuses
The best way to approach sportsbook bonuses is to determine how you plan to play on the online sportsbook.
For example, if you plan to bet on the Denver Broncos every week, typically between $50-$100, this will indicate to you which offers are best to look into.
In the case of a deposit match, if it is 10x the deposit and bonus funds and there is a 30 day time limit, you may want your initial deposit to be somewhere between $20-$40.
Do CO Sports Betting Bonuses Have Restrictions or Limitations?
Usually with online sportsbooks, there are some restrictions in terms of the items we outlined above, but also types of bets that you are unable to engage in, such as boosted odds, certain parlays, and more.
What Are Wagering Requirements?
Wagering requirements is also a restriction/limitation to keep in mind. We’ve mentioned it here and there throughout this review, but let’s break down wagering requirements in full.
Wagering requirements is the amount of times in which you must wager the accounted for amount of money in order to gain access to the bonus funds to withdraw them.
These are usually predicated on the initial deposit, the bonus you receive, or these combined.
These vary far and wide depending on the sportsbook.
Example: The wagering requirement is 20x the deposit and the bonus combined. You deposit $100 and receive a $100 bonus. This is a combined total of $200.
Now, you must wager $200 on the site, multiplied by 20. This is $4,000. Once you reach that $4,000 threshold within the timeframe, you will be able to withdraw the $100 bonus, pending it is still available.
Free Bets vs CO No-Deposit Bonuses
Free bets tend to be promos given to current users or are given as part of a welcome bonus where the user has already deposited (paid for in free bets).
No-deposit bonuses are strictly for signing up with no need to deposit.
Look for More Than One Colorado Sportsbook Promo
With a wide array of online sportsbooks, those in Colorado have so many choices and options. When this happens, why not take advantage of more than one?
For example, you can go back to our top-five offers and visit each of those sportsbooks and have additional fun. Of course, this depends on the type of player you want to be.
If you want to bet regularly or even just here and there, depending on the way in which you plan to bet, this will only benefit your virtual and real-life wallet.