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 best 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 $1,100. With this risk-free bet, you will receive the money back should the qualifying wager lose, but as a one-time bet of the same amount as the first.
Caesars has exceptional odds and a robust market of betting markets, plus every wager comes with Caesars Rewards, which enables loyalty users to earn valuable points that can be used for hotel and dining credits and much more.
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.
DraftKings is one of the most widely available sportsbooks in the nation and makes same-game parlays a breeze by simply enabling users to toggle an icon to dream up their own parlays. DraftKings also has a great offer for new signups where it is offering users a 20% deposit match up to $1,000.
DraftKings has a great user interface and a ton of promotions, like bet-and-gets and odds boosts, that helps users boost their playable funds.
FanDuel is the No. 1 sportsbook in the U.S., with elite odds and a new-user promo that is exceptional. The FanDuel sportsbook is giving new signups a risk-free bet of up to $1,000 that pays out as site credit if the initial bet loses.
FanDuel invented the same-game parlay, that is now standard across sportsbooks, and even added the Same-Game Parlay+, where bettors can combine markets from multiple games to create big payouts. FanDuel is also the only sportsbook that accepts Venmo as a form of payment, which makes depositing and withdrawing funds much more convenient.
BetMGM is one of the best and most widely available sportsbooks around, with exceptional odds and a ton of betting markets. BetMGM has one of the best new-user offers as well, where they can get a risk-free bet of up to $1,000 that is paid out in free bets.
BetMGM also offers a ton of offers like bet-and-gets, where bettors can put out a small amount of money on a likely outcome and earn $200 or more in free bets. Each offer is easy to take advantage of.
Betway has a robust number of betting markets and deals with every major North American sport. Best of all, new users who deposit at least $10 and places a wager of -300 or longer, will receive a risk-free bet of up to $250.
If the initial bet loses, bettors will receive a reimbursed free bet of the original amount.
Fox Bet Sportsbook
Fox Bet is only available in two states at the moment, yet Colorado happens to be one of them. The Fox Bet sportsbook is offering a risk-free bet of up to $500 to new users, yet the lost bet reimburses as a second bet of the same amount as the first and there are requirements such as minimum odds (-200) and a seven-day timeframe to use the bonus.
Fox Bet has a robust market of futures and current events as well as promos and boosts that bettors of all experience levels will love.
The Betfred sportsbook, based in the UK, has a spectacular offer for new signups, where bettors who deposit at least $10 receive a risk-free bet up to $1,500 that is paid out in free bets if it doesn’t hit. Betfred has a similar number of betting markets as the competitors listed above and is available in a handful of states aside from Colorado too.
The Tipico Sportsbook has an exceptional offer for new players in Colorado where it offers a risk-free bet of up to $750 that pays out in site credit if it loses.
Tipico, which offers a slew of betting markets like hockey, basketball, football and many others, also only has a 1x play-through requirement and no minimum odds mandate, which means if your initial bet loses you can place your entire amount on any bet and if it wins you can cash out with the bonus funds.
MaximBet offers a classic deposit bonus match. At a 100% rate, players will be able to receive a match up to $1,000.
Although 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 at least a few of the ones listed above, notably Caesars and BetMGM, a promo code is required.
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. Others require opt-ins. Make sure to look carefully before leaping.
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
Some sportsbooks will give free bets that are matched to your initial deposit, which 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.
Bet & Get
Bet and gets are popular promos and are terrific too. They give users who put out a small amount of money a large amount of playable funds in the form of a free bet. Plus, the “bet" portion of the promo is typically a low-amount, low-stakes bet, something extremely easy to win, and the get is typically at least $150 in free bets that can be used anyway a bettor wants.
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.
Some sportsbook deposit bonus matches may have high playthrough amounts, but 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.
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.