Colorado Sports Betting Promo Codes for New & Returning Bettors in 2024

On May 2020, Colorado became the 19th state in the US to legalize online sports betting. This is good news for sports bettors in the state since they can now wager on their favorite teams. Moreover, many top legal online sportsbooks have quickly leveraged the opportunity to get a license and offer their services to Colorado players. Each has something unique to offer, and all try to outdo one another via their numerous promo codes and bonuses.

Although this should be good news, it poses a new problem for players. Finding a sports betting site with the right promo code can be tricky. Colorado sports betting sites are all competing for players. So, although this means there are lots of Colorado sportsbook promos to choose from, it can be a little overwhelming. Fortunately, our experts have compiled this extensive guide to help you out. Here, we will discuss the best promo codes for new and existing players in the Centennial State, how to leverage them, and many more.

Overall 5 Best Colorado Sportsbook Promo Codes April 2024

After checking out numerous sportsbooks, we have settled for 5 of the best options below. We did not just pick any of the sportsbook promo codes we loved. Instead, we reviewed them using specific criteria, including the bonuses’ value and the attached terms and conditions.

Moreover, all the sportsbooks listed here have been appropriately licensed by the Colorado Division of Gaming. This means you can play on them without any issues with the law. Knowing this, check out our list below.

Is Sports Betting Legal in Colorado?

Yes, online sports betting in Colorado is legal. It has been legal since it went live in May 2020. During this period, it also removed wagering limits from some betting activities. Now, players who are physically located in the state can wager on their favorite sports teams without issues – so long as the online sportsbook has a Colorado license. If you want to wager on sports in Colorado, you must be within the legal betting age of 21 and above. If you meet this criteria, you can choose from several excellent online sportsbooks and claim your Colorado sports betting promotions.

Which Betting Sites & Promo Codes are legal in Colorado?

Here is a list of all the sportsbooks that have acquired a license to offer their services in the Colorado market. We also include a list of their legal physical partners, and promo code offers in these states.

Top Colorado Sportsbook Bonuses for New Users April 2024

If you are searching for a sportsbook with leading Colorado sports betting bonuses for new players, here’s a list of our top picks.

GAMBLEUSA: Get $1,000 Bonus Bet on BetMGM

BetMGM online sportsbook is not a new name in the US. It is one of the legal online sports betting sites in Colorado via its licensing partnership with the Midnight Rose Hotel and Casino in Cripple Creek. This was when sports betting was deemed live in Colorado in May 2020. The platform also has partnerships with the MLS, MLB, and DAZN to ensure a fascinating experience.

New players who register on this site using the MGM Colorado promo code GAMBLEUSA get a bonus bet of up to $1,000. If your first wager loses, the platform refunds you up to a maximum of $1,000. You can use this to wager on 23 sports markets, including Football, Soccer, Basketball, and many more. BetMGM allows you to play games via your PC or through the dedicated IOS and Android apps.

GUSA: Get 5 x $50 2nd chance bets on PointsBet

PointsBet Sportsbook is another one of the leading legal online sportsbooks in Colorado that we recommend. The PointsBet site was offered a temporary sports betting license earlier in 2020 before going live in November 2020. To meet the licensing requirement in Colorado, it has a partnership with the Double Eagle Casino in Cripple Creek. It stands out from other platforms through its PoinsBetting feature. This greatly boosts the possible wins or losses on numerous wagers.

To leverage this feature, PointsBet offers new players in Colorado 5 x $50 second chance bets when they register with the PointsBet CO promo code GUSA. You can take advantage of this offer by placing bets for five days after registering. If your bet does not win, the platform gives you up to $100 in bonus bets for five days– making a total of $250! You’ll be able to wager on popular sports markets alongside unique markets like Entertainment.

Claim $1,050 Bonus Bets on DraftKings Sportsbook

If you are a regular in the sports betting world, DraftKings is most likely a name you have heard a few times. It has a licensing partnership with Bally’s Black Hawk, making it legal for Colorado sports fans. DraftKings transitioned into one of the top sportsbooks when it started offering its services on the 1st of May 2020 – which is not a surprise.

New players who register for a DraftKings Colorado sports betting account here are instantly credited with a $50 bonus bet and a 20% match deposit bonus up to $1,000– without needing a bonus code. This is impressive, considering not many sportsbooks offer a mix of both bonuses.

What’s more, you need only a minimum of $5 to qualify for this offer. DraftKings CO allows you to wager on any sports betting market, including the top US sports, leagues, and eSports – all with competitive odds.

The best part is that it is integrated with its DFS platform, which you can seamlessly switch to when you want a break from sports betting. As you would expect from a top site, this platform has a dedicated Android and IOS app.

Claim $200 Bonus Bets with bet365 CO Sportsbook

bet365 Sportsbook has been catering to players in all parts of the world, including Colorado. Unlike the other online Colorado sportsbooks we have recommended so far, bet365 only became legal in September 2022. This is via its recently concluded licensing partnership with Century Casinos.

Now players who register on this Colorado sports betting site will be able to wager on the vast US sports markets, including the typical NFL, NBA, MLB, and many more. There are also a variety of leagues in international sports markets, like the Champions League, World Cup, MMA, WTA, etc.

Bet365 also offers new players in CO a generous welcome bonus of $200 in Bet Credits when they wager $1. They can use this to wager on the various markets via the website or dedicated mobile apps.

Colorado Bonus Types for New Colorado Players

You will be eligible for various Colorado sports betting promos as a new player who opts to play on a CO site. These bonuses tend to differ depending on the sportsbook. You could find bonus bets and many more. Each of these bonuses works differently and serves unique purposes. For this reason, it is vital to first learn about bonuses and how they work. Also, before you claim any of these bonuses, it’s worth noting that they come attached with terms and conditions. We’ll take a deeper look into these below.

Bonus Bets

Similar to what the name indicates, these Colorado sportsbook promotions allow you to wager on sportsbooks at no harm to your bankroll. Here, the sportsbook allows you to wager on an event, and if your bet loses, you get a refund in bet credits. An excellent example of this offer is the one provided by BetMGM when you register with the promo code GAMBLEUSA. You get a bonus bet up to $1,000, which you can use to wager on any sport. If your bet loses, you’ll be refunded in bet credits up to $1,000. This offer suits new players who are unsure of their wager. It’s a win-win type of wager since you don’t lose anything regardless of how your bet goes.

Bonus Bets Explained

The bonus bets offer is another typical offer you’ll find on legal sports betting sites in Colorado. Here, the sportsbook rewards you in bonus bets after you make a deposit. This usually comes in a fixed amount, and you’ll be able to use it to wager on sports, as stated by the platform. The amount of bonus bets you get tends to differ depending on the sportsbook, similar to other offers. An excellent example of this offer is the one provided by bet365. Here you are given $200 in bonus bets to wager on sports when you make a real money wager of $1. Betfred CO offers a similar bonus, except that it offers you $250 when you make a $50 wager.

No Deposit Bonus Bets

By the name, you can easily deduce what this bonus means. This is a no-deposit bonus that rewards you in the form of bonus bets. In this case, the sportsbook only requires you to register, and you are instantly credited with the bonus bets. Then, you can wager on any available sports to win real money. These bonuses are not as common as others, but they exist. Note that winnings from this form of bonus tend to come attached with wagering requirements. You’ll be required to fulfill them before you can withdraw.

Deposit Match Bonus

The deposit bonus is also another top-rated offer on sports betting sites. Here, the sports betting site matches your deposit by a specific percentage up to an amount. While most sportsbooks will match deposits by 100%, some will also go lower – which means you may find 50% or less. For instance, DraftKings offers you a 20% match deposit bonus of up to $1,000, while Barstool sportsbook offers a 100% match deposit of up to $1,000.

These bonuses are usually capped at the stated amount; you cannot receive a bonus for deposits beyond that cap amount. Sometimes, a CO sportsbook may offer a match deposit bonus on your first three deposits instead of one, like MaximBet.

Insurance or Cashback Bonus

As you know, when it comes to betting, there are instances when you lose. The insurance or cashback bonus is a good buffer against these types of losses. Here, the sportsbook will refund you up to an amount on specified bets. If you win the wager, you get credited your earnings, but if you lose, the sportsbook reimburses you. Note that the sportsbook always specifies the maximum amount that you can be refunded. Going beyond this means that you won’t get a refund. For instance, if a sportsbook offers you a bonus refund or cashback bonus of up to $500, wagering more than this will mean you get refunded only $500. The FanDuel $1,000 No Sweat First Bet is an excellent example of this.

Best Colorado Betting Apps with Regular Promotions 

If you enjoy betting on the go, reliable Colorado mobile sports betting apps will let you do this easily. The best part is that they also offer plenty of promotions and bonuses to make your stay worthwhile. Knowing this, here are some of the best Colorado betting apps you can download and use today.

FanDuel Sportsbook: Best for Same Game Parlay Bonuses

FanDuel sportsbook is a top site, so it is not surprising that it has dedicated mobile apps for IOS and Android devices. New players who register via the FanDuel sportsbook app get a generous welcome offer of up to $1,000 in bonus bets if their first bet loses. This deposit requires only a minimum of $10.

If you have lots of friends, FanDuel also offers you $50 in bonus bets for every friend you refer to the site. You’ll also find College Parlays which give you $10 in bonus bets if you win or lose. There are also other offers including UFC Parlay Bets,  and NBA League Pass when you bet $5, and many more.

MaximBet Sportsbook: Regular Bet Credits

New players who register on the MaximBet app are eligible for a welcome bonus offer of up to $500 back on losses in bonus bets. Asides from this offer, there are numerous regular promotions on this site.

You can take advantage of the Make The Cut offer if you enjoy Gold for a chance to win bet credits. Aside from these, you can benefit from other bonuses, including weekend bonus bet offers.

BetRivers Sportsbook: Parlay Insurance Promos

This mobile sports betting app is available for Android and IOS devices and offers a clean and easy-to-use interface. New players who sign up on the BetRivers CO app using the promo code SPORTS will get up to $500 in bonus bets if their wager loses.

BetRivers offers a range of offers, including NFL Parlay Insurance, and World Cup Futures Insurance. Each of these offer you a refund on bets if they lose.

If you become a regular player on this site, you can partake in the iRush Rewards program targeted at loyal players. This comes with plenty of benefits, including birthday gifts, VIP Events, Free devices, Luxury accommodations, etc. There are also other bonuses including NCAAB Parlays, Daily Odds Boosts, and tons of tournaments with prize pools of up to $500,000.

Betfred Sportsbook: Enhanced Parlay Betting Odds

The Betfred sportsbook recently started expanding its services into the US. It is now legal in a few US states, including Colorado. New players who register on the Betfred app and wager $50 get $250 in bonus bets. However, it is only applicable to desktop users. We suggest registering via the PC version first to claim your bonus before moving to the mobile app.

Betfred also offers a range of other bonuses, including odds boosts and enhanced parlays. What’s more, there is a rewards program consisting of numerous benefits like restaurant vouchers and birthday bonuses. This is targeted at players who consistently wager on the platform as a way to appreciate them.

Fox Bet App: Super Boosts every Friday

Fox Bet sportsbook is accessible on both IOS and Android devices. New players who register on this online sports betting site get a welcome bet offer of up to $50. This is lower than many other platforms we have covered so far, but it makes up for this with amazing parlays, bet boosts, and super boosts Fridays.

There is also a challenges section where you can complete tasks for a chance to earn exclusive rewards like bonus bets. Simply opt-in to leverage this offer.

Colorado Sports Betting Promo Codes for Existing Players Explained

Asides from the variety of new player bonuses available on Colorado sportsbooks, existing players will also be spoiled with choices. Similar to deposit bonuses for new players, it is crucial to learn about these bonuses and how they work. Here’s a look at some of the most common options you’ll find on sports betting sites.

Odds Boosts

Odds boosts are sometimes referred to as boosted odds or enhanced odds bonuses. Here, the sports betting site boosts the value of specific betting odds. If you decide to wager on these odds and win, you end up cashing out a higher amount than you typically would have. While these offers are commonly targeted at existing players, they can sometimes be used to attract new Colorado sports bettors.

Bet Insurance

Bet insurance is a bonus the sportsbook offers to protect you from losses. In this case, the sports betting site refunds your bet for a specific amount if you lose. Consider this similar to vehicle insurance, where the company pays for your damages. In this case, the damage is the loss you suffer at a sportsbook. Note that you won’t be refunded beyond the amount specified by the sports betting site.

Reload Bonuses

Reload bonuses are similar to deposit match bonuses offered to new players. However, the significant difference is that while a sportsbook offers deposit match bonuses to new players, a reload bonus is given to an existing player. A sportsbook may offer you a reload bonus for depositing funds in your account after a while. Then your deposit is matched by a percentage up to a specific amount. Sportsbooks use this to encourage players to continue playing for real money instead of going to other platforms.

Bonus Bets for Existing Players

Bonus bets are typically offered to new Colorado players as a welcome bonus. However, there are bonus bets for existing players too. These bonuses are very straightforward as the sports betting site offers you an amount of bonus money to wager on games. You won’t be able to redeem the bonus bet offer for money, and you must use it to wager on the CO site. For existing players, bonus bets could come in the form of weekly or weekend bonuses. It could also be one of the benefits of a VIP program offered by a sportsbook.

VIP and Loyalty Schemes

The VIP/Loyalty schemes are rewards programs targeted at the loyal players of a sportsbook. Once a bettor becomes part of a VIP program, they are eligible for better bonuses, amazing trips, and many more. Most loyalty programs come with various tiers, with the higher tiers/levels offering the best rewards. Colorado bettors will need to wager consistently to progress up the tiers. While some of these programs are based on invite-only, other sites will automatically enroll you in the program as you register. A good VIP/Loyalty scheme is the BetRivers iRewards program which offers tons of fabulous prizes for existing players.

Referral Bonuses

This is a bonus offered to Colorado sports bettors for referring their friends to play on a sportsbook. You’ll find this bonus on many top sports betting sites today since it greatly benefits them. While the players get cash or bonus bets for referring other players, the sportsbook gets more bettors to register without having to advertise themselves.

Occurrence Bonus

This type of bonus provides bettors with great entertainment. Any player who claims this bonus will receive a payout each time an event occurs in a game or match. When there is a touchdown, a goal is scored, or a home run made, the sportsbook might give you $1 in site credit. So, a high-scoring game would suit the bettor.

Leaderboards/Sweepstakes

A leaderboard or sweepstake promotion is more commonly found in casinos rather than sportsbooks. However, particular sportsbooks do offer them, so it is worth knowing what they entail. The more you bet and the higher the stakes, the more points you will earn. This transfers to a leaderboard and adds a competitive edge among players.

Such leaderboards usually run weekly or monthly. Once that time period ends, the sportsbook will award those at the top with prizes. A leaderboard promotion is only worth it if you are willing to visit a sportsbook and place wagers regularly.

Some sweepstakes may reward bettors based purely on the volume of their betting activity. If they have made over a certain number of bets, they may be entitled to a prize.

Free Plays

Certain promotions on sportsbooks don’t require putting down any money. Sportsbooks will regularly run competitions that are free to enter. These competitions typically involve players making a large set of predictions. As getting a large number of forecasts correct is unlikely, many players will be out of the running for prizes early on.

The sportsbook will recognize the odds of someone being completely correct are low, so isn’t too worried about paying out to a lot of people. Even so, with these competitions being free, it is worthwhile taking part. If you have time, the phrase ‘nothing ventured, nothing gained’ applies here.

How to Redeem Colorado Sportsbook Promo Codes

Redeeming your Colorado sportsbook promo code offer is extremely easy especially if you have the right guide. To this end, our experts have put together easy steps to redeem any of the promo code offers we have covered in this guide.

• Step 1: Pick any of the CO sportsbooks covered in this guide and navigate to the site. They are all licensed and regulated so you are fine with any option.
• Step 2: Read the terms and conditions of the promo code you want to claim. Make sure you understand the wagering requirements and other terms before you proceed.
• Step 3: If satisfied with the promo code offer, you must register to claim the bonus. Simply click on the site’s Register/Sign up button to get started. Note that you will need to input your details like name, email, date of birth, address, and last four digits of your SSN. You’ll also have to be situated in Colorado, or you’ll be unable to proceed beyond this point.
• Step 4: If you have your promo code, you can input it at this point. If not, proceed to make your first deposit. Choose one of the available options to get started. In most cases, you’ll find reliable payment options like PayPal, Bank Transfer, Skrill, Play+, Credit and debit cards, prepaid cards, etc.
• Step 5: After you make the minimum amount required on the sportsbook, you will instantly be credited with the associated bonus offer. All that’s left is to start wagering on the provided odds.

This process should be completed within 5 minutes or less. There may be a slight delay when the sportsbook is verifying your identity, so you may want to keep this in mind.

If you are an existing player on a sportsbook, claiming a bonus will be more straightforward. Simply check the promotions page of the sportsbook and opt-in or read the requirements and perform the needed task to unlock the bonus. Most times, it may be as simple as depositing a specific amount of cash or wagering on a specified market.

Sportsbook Bonuses Rules

As we mentioned earlier, sportsbook promo code offers tend to come with rules you can find in the terms and conditions. We recommend you read them before accepting an offer, as these rules influence how you use the bonuses. Some of the most common ones include:

• Playthrough Requirements: This is also referred to as the wagering requirement. It is the number of times you’ll need to wager the bonus before you can withdraw your earnings. For instance, a sportsbook might attach a 30x wagering requirement to a bonus. This means you’ll need to wager the bonus 30 times before you can withdraw. This number may vary depending on the site, with some as high as 60x and others at zero.
• Minimum odds: Some sportsbooks will specify the minimum odds allowed when wagering with the bonus offer. In most cases, it may be minimum odds of at least -200. Wagering on anything lower will not count toward completing your wagering requirement. DraftKings, for instance, offers a welcome bonus of up to $1,000 which must be wagered on odds of -300 or longer.
• Minimum deposit: This is the minimum amount you can deposit to be eligible for the bonus. It mainly applies to welcome bonuses where the minimum amount is specified. The minimum deposit can be as little as $5, like DraftKings, or $10, as is the case with BetMGM. Others may require more than $20.
• Bonus Expiry: Bonuses tend to have expiry dates attached. Failure to use the bonus offer within this period will result in you losing the entire bonus and associated earnings. The typical time frame for bonuses is between 7 – 30 days. Choosing an offer that gives you adequate time to fulfill wagering requirements before it expires is best.

How to Determine if a Bonus is Worth Playing

Bonus offers are a great added benefit when playing at a particular sportsbook. Ultimately, receiving something for no extra cost is fantastic. However, not all bonuses are worth your time. Indeed, some may even turn out to be losing propositions.

Sportsbook House Advantage

Sportsbooks need to make money too. They do this by charging a premium on the winning side of each bet. This premium is known as vigorish, or more commonly in the industry, ‘vig.’ The vig of a winning bet is 10%. Players can discover how much they are charging by looking at the three-digit number next to point spread and totals bets. 11% = -111, 15% = -115 etc.

So, if two bettors go head to head and bet against each other, they might each pay $11 for the chance to win $10. Once the bet ends, the sportsbook pays out $21 and keeps $1 for itself. As the sportsbook has paid out $21 of $22 bet, the overall house advantage of the sportsbook works out at 4.55% (22/21 – 1). This translates to every $100 that you bet at this vig; you will receive $95.45 and lose $4.55.

How Does House Advantage Affect Bonuses?

This is where wagering requirements come into play. So, you have to every time you have to wager through the bonus amount; you give up 4.55% of the wagered amount back to the sportsbook. For example, a 100% bonus comes with a 20x playthrough requirement. That dictates players will have to bet $2,000 (20 x $100) to free the money up as cash. On average, it is expected you will lose 4.55% of that $2,000, which works out at $91. This means the actual expected value of your bonus dollars is only $9 and not $100, as you had to give up $91 to receive $100.

Should you Claim the Bonus?

Indeed, $9 does not sound a lot; it is still a positive expectation. Looking at this purely from a mathematical point of view, you should claim this bonus. Moreover, you should claim any bonus that you predict will have a positive value. This will work out well in the long run.

Conversely, if that same $100 bonus came with a 25x requirement, you would need to bet $2,500 to clear it. That would mean surrendering $113.75 as you try and clear the bonus. Ultimately this would mean you are losing money on the bonus. You will get the $100 back, but you will be $13.75 out of pocket. We would say if a playthrough requirement goes above 20, it is not worth it.

Please remember some bonuses may not be worth your time. Always read the terms and conditions of any bonus offer before you accept it.

How to Use Colorado Sportsbook Promo Codes

Colorado sportsbook promo codes are easy to use and apply to most common sports. Read on to find out some of the sports alongside the bonuses to expect.

NFL Betting Bonuses

Football, especially the NFL, is a popular sport in Colorado. Therefore, you’ll find numerous promo code offers on the top NFL CO sportsbooks. Some of the top options include odds boosts, bonus bets, early payout offers, and parlays. bet365 CO, for instance, offers an NFL Early payout offer if your backed team leads by 17 points anytime during the game. You can use this to wager on popular teams like the Denver Broncos, Denver Gold and Colorado Crush.

The Denver Broncos agreed to a partnership with BetFred in September 2021 in one of the earliest such agreements that was signed. As part of that deal, there is a BetFred lounge located outside of Empire Field at Mile High which bettors can access during home games. Features of the lounge include an entertainment area, odds boards, a bar, exclusive fan contests and signage dotted around the stadium. Please be aware that you are only able to place bets on your mobile phones at this location.

NBA Betting Bonuses

Many bettors love the NBA, and CO sportsbooks understand this. Therefore, most sportsbooks will offer many NBA promo code bonuses you can claim. Some bonuses you’ll find include NBA odds boosts, NBA bonus bets and NBA Parlay insurance offers. For instance, BetMGM offers up to $25 back in bonus bets on an NBA one-game parlay. If you like, you can wager on teams like the Lakers, Denver Nuggets, and Chicago Bulls.

Australian based operator PointsBet decided to place their U.S. headquarters in Denver in August 2020. Additionally, the company signed a deal with the owner of several professional Colorado teams, Kroenke Sports & Entertainment. The multi-year agreement offers amenities like exclusive contests, a PointsBet Sports Bar and improved WiFi in the PointsBet Club Level. Customers also have the opportunity to watch the Nuggets in action from their club level seating. The pact also means there is PointsBet branding spread throughout the stadium.

NHL Betting Bonuses

The NHL, or National Hockey League, is one of the leading professional sports in the US. You’ll find plenty of bonus promo code offers on the NHL. These include NHL bonus bets, NHL Early payouts, and NHL bonus bets. You can use these offers to wager on popular Colorado hockey teams like the Colorado Avalanche, Denver Spurs, and Colorado Rockies.

The deal we have mentioned above between PointsBet and Kroenke Sports & Entertainment also included the Avalanche. So bettors can enjoy all of the amenities discussed above such as upgraded WiFi and a lively sports bar while watching Hockey.

MLB Betting Bonuses

Baseball, particularly the MLB, is another popular sport with numerous promo code offers on CO sports betting sites. You’ll find bonuses like bet insurance, profit boosts, same-game parlays, and early payouts. A good MLB offer is the same game parlay offer available on BetRivers CO. This allows you to create your ideal MLB combination to win big.

MLS Betting Bonuses

The Colorado Rapids were one of the original MLS franchises when MLS began to play in 1996. The Rapids made it to the MLS Cup in 1997 and won the whole thing in 2010. The Rapids play their home games at DICK’S Sporting Goods Park in Commerce City. Betting on Soccer has grown in popularity in the United States in recent years as the sport continues to grow. Live wagering, in particular, works very well wagering on soccer as you can bet on the next goal, goalscorer, yellow card and even the next team to win a corner kick!

PGA Betting Bonuses

Betting on golf is fun for many CO residents. Popular tours like the Masters’ Tournament and PGA Tour tend to attract many bettors in CO. You’ll find tons of promo code offers like odds boosts, bonus bets, and many more.

Colorado Sportsbook Promo Codes Comparison

The above table offers the round up of this page. You can use the provided date to pick a CO betting app with bonus codes fit for your betting habits.

Colorado Sports Teams to bet on

So, you have signed up to your Colorado sportsbook of choice and now want to use your Colorado sportsbook promo on a hometown team. what are the choices for local teams? All of the sportsbooks listed on this page will offer odds on the following:

• Denver Broncos
• Colorado Rockies
• Colorado Rapids
• Colorado Buffaloes (Football)
• Colorado Buffaloes (Basketball)

Once you have signed up and claimed your bonus, search for any of the above teams if you would like to wager on their matches. You could even place an NFL futures bet on the Broncos winning the Super Bowl with the new era now underway with Russell Wilson.

Summary

There you have it, an exhaustive list of all the top sportsbook promo code offers in Colorado. All the platforms listed in this guide are licensed and regulated to operate in Colorado. Simply choose the one that best resonates with you, claim your promo code offer, and start wagering on your favorite CO teams!

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