Bonus Sports Betting
Colorado online sports betting kicked off on May 1, 2020. There are 16 licensed Colorado online sportsbooks. Most offer sign-up bonuses including free bets and deposit bonuses that lure players to their sites instead of their competitors. Each has its own set of terms and conditions, and we cover them below so you can find the best deal for your level of activity.
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Sports Betting Free Bet Bonus – a free bet bonus is offered as a free stake that can be used to place a bet. Free bet bonuses are usually matched with first bet placed by the user on the bookmaker website. The value of the first bet and the percentage match varies from a sports betting website to another and also from a country to another. Sports Betting Bonuses come under different forms, from registration bonuses to bonuses made available around sporting events. There are a few bonus types that are popular among bookmakers, such as deposit bonuses, free bet & risk free bet bonuses, cashback bonuses. Many sports betting welcome bonuses are subject to minimum odds, and the qualifying bet you make to claim the bonus may also be affected by these. These odds requirements could mean you won’t necessarily be able to bet on your preferred market with your bonus funds, so it’s best to read the terms and conditions before you sign up. Every bonus offered by an online sportsbook, regardless of whether it’s an initial deposit bonus, a free bet bonus, or otherwise, comes with a set of wagering requirements.
You generally have to deposit some of your own money into a new account before you can unlock a sports betting bonus. This is called a match bonus. For example, betting sites might.
Best Online Sports Betting Bonuses In Colorado
While most Colorado sportsbooks offer bonuses, some are notable for new bettors. Here are the eight best welcome bonuses in Colorado:
- William Hill – Claim A $500 Risk-Free Bet
- BetRivers – Claim A $250 Deposit Bonus with 100% Match
- FanDuel – Claim A $1,000 Risk-Free Bet
- SportsBetting.com – Claim A $150 Deposit Bonus
- BetMGM – Claim A $500 Deposit Bonus – Use bonus code SHARP
- PointsBet – Claim A Two Risk-Free Bets, up to $1,500 – Use bonus code BIGBONUS
- DraftKings – Claim A $1,000 Deposit Bonus with 20% Match
- FOX Bet – Claim A $500 Risk-Free Bet
Online Sports Betting In Colorado
William Hill Colorado
Bonus: $500 Free Bet
Claim Bonus: Willaim Hill $500 Free Bet
Defense Dollars: Wager $50 or more on the pregame or full game spread on the Washington Huskies vs. Oregon Ducks game. Earn a free bet for your team’s defense:
- $1 per sack
- $2 per fumble recovery
- $3 per interception
- $7 per defensive touchdown
- $10 per safety
Remember, the risk-free bet must be used within seven days from the date it’s awarded. Don’t let that free bet go to waste!
BetRivers Colorado
Bonus: 100% up to $250 Deposit Match
Claim Bonus: BetRivers Sportsbook Bonus of $250
Colorado became the fourth state BetRivers launched in after Pennsylvania, Indiana, and Illinois. (It launched in Iowa shortly afterward, too.) BetRivers is owned by Rush Street Interactive, the same company that operates SugarHouse Online, but Coloradans won’t get access to that site. BetRivers has a number of loyalty perks and rewards to Colorado sports bettors and is offering up to a $250 match for deposits through our exclusive link. BetRivers will match each dollar bettors deposit with a site credit up to $250. Bettors also have to use that money to bet, with BetRivers releasing one site credit for every dollar in wagers. It has the best rate of reward among Colorado deposit bonuses. But it’s far from the largest.
FanDuel Sportsbook Colorado
Bonus: $1,000 Risk-Free Bet
Claim Bonus: FanDuel Sportsbook $1,000 Risk-Free Bet
FanDuel is another licensed daily fantasy sports company that entered thelegal sports betting industry in Colorado. You receive $5 in your account immediately upon signing up. You’ll receive another $5 upon making a deposit. FanDuel’s main welcome bonus is its $1,000 risk-free bet. You’ll receive a free bet for your first wager’s amount. If it loses, your account is reimbursed for the losses, up to $1,000. Winnings are eligible for cashout, but the site credits cannot be withdrawn.
SportsBetting.com
Bonus: $150 Deposit Bonus
Claim Bonus:SportsBetting.com $150 deposit bonus
SportsBetting.com launched in Colorado after partnering withJohnny Nolon’s. SportsBetting.com offers a 100% up to $150 deposit bonus for new customers.
Bonus: $500 Deposit Bonus
Claim Bonus:BetMGM Sportsbook $500 Deposit Bonus – Use bonus code SHARP
Bet MGM is operated by MGM Resorts out of Las Vegas. It offers a risk-free bet up to $500. However, bettors must use their first bet to take advantage of this bonus. If bettors lose their first bet, then BetMGM will add risk-free bets to bettor accounts. If bettors wager $49 or less, they’ll get one risk-free bet that’s equal to their first bet. If bettors wager $50 or more, then bettors will get five risk-free bets that are each worth a fifth of their first bet. So, a $500 losing wager would get bettors five $100 risk-free bets. It’s a little confusing, but the bottom line is bettors will get their losing stake back in the form of risk-free bets.
PointsBet Colorado
Bonus: 2 Risk-Free Bets up to $1,500
Claim Bonus: PointsBet Sportsbook $1,500 Risk-Free Bets – Use Bonus Code BIGBONUS
PointsBet offers a little something different-a dual risk-free bonus bet offer. New accounts can receive two risk-free bets, one up to $500 on a fixed-odds bet, and $1,000 for PointsBetting. PointsBetting is a spread bet which allows bettors to wager on how much their team will cover the spread by. The reward multiplies depending on how far over the threshold your team is when the game concludes. If you can guess how much you’ll win, you can be rewarded exponentially. But it’s a tricky bet. Best of luck if you attempt it.
DraftKings Sportsbook Colorado
Bonus: 20% up to $1000 on deposit.
Claim Bonus:DraftKings Sportsbook Bonus of $1,000
DraftKings is best known in Colorado as a legal daily fantasy sports site. It’s been a licensed daily fantasy site in Colorado since 2016. Now you can bet on sports through DraftKings’ app and website.
New DraftKings sportsbook players can earn up to $1,000 in deposit bonuses. When making a deposit, bettors can earn $1 in site credits for every $5 they deposit, up to $1000. That means a $5,000 deposit would receive the maximum bonus. However, DraftKings also has a playthrough requirement. Bettors get $1 in site credits for every $25 they ager after depositing. Bettors have 90 days to meet the playthrough requirement to maximize this bonus. You’ll be rewarded in proportion to how much you deposit and wager, so make your first deposit and subsequent bets count!
Additional terms and conditions apply.
FOX Bet Colorado
Bonus: $500 Risk-Free Bet
FOX Bet offers new players a $500 risk-free bet on their first wager. However, it’s only good for your first wager, so make sure you don’t miss it. Bettors must place a bet on a line with odds of -200 or more to qualify. If you lose, you’ll get site credits that match your stake up to $500. If you win, then congratulations. Enjoy your winnings.
BetMonarch
Bonus: None available
BetMonarch is the first homegrown sportsbook to launch in Colorado, both owned and operated locally. The new app launched in May 2020, about a week after Colorado legal sports betting went live. As the name suggests, BetMonarch is attached to the Monarch Casino in Black Hawk, and bettors will also be able to place bets at the retail sportsbook in person once Colorado casinos reopen.
SBK
Bonus: None Available
SBK is an online sportsbook from Smarkets, a European sports betting company based in the UK. SBK launched on June 4 and gets its odds from its betting exchange overseas. That means that SBK’s odds are particularly competitive. But Colorado sportsbooks that offer bonuses or boosts can have better odds on certain lines than SBK.
Mgm Sports Betting Bonus Code
Sky Ute Sportsbook
Bonus: None Available
Sky Ute Sportsbook is the online sportsbook from the Southern Ute Indian Tribe. Sky Ute Sportsbook launched on June 9 and is currently not offering a sign-up or deposit bonus.
Circa Sports
Bonus: None available
Circa Sports is an online sportsbook that started in Las Vegas at the D and Golden Gate. Colorado is its first online sportsbook outside of Nevada and promises to have high limits and great odds.
BetWildwood
Bonus: None Available
BetWildwood is an online sports betting site operated by Wildwood Casino. It offers no welcome bonuses and tends to have low odds compared to its competitors.
theScore Bet
Bonus: $1,000 Deposit Bonus with 5% Cash Back + $500 Risk-Free Bet
theScore Bet offers two welcome bonuses: the $1,000 deposit bonus and the $500 risk-free bet.
The deposit bonus rewards bettors for their first deposit, up to $1,000. But to unlock that bonus, bettors need to wager. Bettors get 5% cash back on every wager for 60 days to slowly unlock the cash bonus they earned from their first deposit. That means to get the full $1,000, bettors must:
- Deposit $1,000 on their first deposit.
- Wager $20,000 in 60 days.
Long story short, bettors will be rewarded in proportion to their play.
theScore Bet also offers a $500 risk-free bet. theScore Bet refunds your first bet if it loses for the amount bettors wagered, up to $500.
Elite Sportsbook
Bonus: $500 Risk-Free Bet
Elite Sportsbook is partnered with Red Dolly Casino. They are offering first-time users a $500 risk-free bet of up to $500 on their first bet. With a risk-free bet, the first bet is the one to go big on.
Betfred Sports
Bonus: $500 Risk-Free Bet
Betfred is a European operator that partnered with Saratoga to launch its online sportsbook in Colorado. Betfred is an official partner of the Denver Broncos and offers new players up to $500 risk-free bet when they sign up.
Superbook Sportsbook
Bonus: None Available
Superbook is a recent Colorado entrant that promises bonuses soon. Colorado is its first state after Nevada, and it’ll be heading into New Jersey next.
Colorado Sports Betting Sites Launching Soon:
888 Sportsbook
888 Sportsbook isn’t here yet. But when it is, it offers a $500 risk-free bet. However, that could change for Colorado before launching.
Bet365
Bet365 is a maybe, too. However, if it comes to Colorado, bettors would be able to claim a $100 first deposit bonus. It’d be the smallest deposit bonus in Colorado at that rate.
BetAmerica
BetAmerica is best-known as a horse racing betting company. It is owned and operated by Churchill Downs. It has been licensed in Colorado in the racing industry for years. However, its casino bonus is more generous than its sportsbook bonus. New casino players get a $500 deposit bonus. New sportsbook bettors get what appears to be a $50 risk-free bet.
Barstool Sportsbook
Barstool Sportsbook is opening a retail location in Colorado, but the app isn’t live yet. When it is, bettors can claim a $500 risk-free bet.
Colorado Sports Betting Promotions
Existing users can take part in sports betting promotions offered at many of the Colorado sports betting sites. Deposit bonuses reward bettors for how much they deposit and wager. Risk-free bets refund losing bets with site credits.
However, bettors will find ongoing bonuses that offer small wagers on popular games. There’s lots to see, so bettors should keep an eye out for new promotions.
Deposit Bonuses
Deposit bonuses appear the most enticing. They reward bettors for how much they deposit upfront. Sportsbooks seem to know that bettors who deposit money will use it, so it makes sense for them to incentivize large deposits. Deposit bonuses are awarded at a rate expressed as a percentage. A 20% deposit bonus, like DraftKings’, awards 20% of a bettor’s deposit in site credits. So, a $100 deposit would earn $20 in site credits.
However, deposit bonuses often have playthrough requirements, too. Bettors need to actually use the money they deposit before unlocking their bonuses. theScore Bet awards 5% of a bettor’s wagers up to the amount they deposited upfront. That way, sportsbooks ensure bettors are actually wagering.
Risk-Free Bets
Ironically, risk-free bets require bettors to risk their own money upfront. Risk-free bets reimburse bettors for how much they lose on their first bet. The advertised amount is often the maximum bet that bettors can be reimbursed for in full. So, a $500 risk-free bet often means that bettors can lose $500 on their first bet, then get that money back in site credits. That’s the deal bettors can find at Fox Bet. However, bettors can’t withdraw the site credits. Bettors can only get their winnings in the bank. Since these bonuses are often only good for the first bet, new bettors often miss the chance to use them. Don’t be one of them. Plan the first bet carefully.
No-Deposit Bonuses
These are small, unremarkable bonuses that bettors receive upon sign up. However, these are in the form of site credits, too. They’re not free money for bettors to withdraw and use as they please. Bettors must use those credits to wager at their sportsbook or forfeit them. They’re usually not larger than $50, so don’t get too excited about them. Barstool Sportsbook offers a $10 no-deposit bonus for signing up, knowing they’ll win that money back over time. However, they can help new and nervous bettors try betting for the first time. Sportsbooks likely use these to lure the most cautious of new bettors in, hoping they’ll wager more after using these first site credits.
Ongoing Event Bonuses
These are other small bonuses that are tied to specific events. BetMGM offers a deal where bettors wager $50 on college basketball and get a $25 free bet for college football. Little bundles like these help spread bets over all the events sportsbooks need money on.
How To Claim Online Sportsbook Bonuses In State
Claiming bonuses tends to be straightforward. First, bettors have to find the online sportsbook app they want to wager at. That’s as easy as googling the website or searching the app store. Keep in mind that some brands have state-specific apps. If the Colorado app is available, choose that one. And don’t mistake a daily fantasy sports app for a sportsbook. They’re not the same.
After that, bettors must register for accounts. Creating accounts is similar to any other website. However, sportsbooks require part or all of a bettor’s social security number. That may seem strange to new bettors. However, it’s part of an identity verification step that all licensed Colorado sportsbooks must adhere to. No one wants to award money to money launderers, after all.
Once bettors are registered, they just have to fulfill the first terms of the welcome bonus. That could mean different things for different bonuses and sportsbooks. For example, DraftKings and theScore Bet both offer $1,000 deposit bonuses. However, they have different ways to unlock the full bonus. DraftKings requires a large deposit upfront followed by a 25:1 playthrough requirement. But theScore Bet only requires a 20:1 playthrough. That means earning the full deposit bonus requires $5,000 less at theScore Bet than at DraftKings.
But risk-free bets come with their own terms, too. Their terms often hinge on the first wager. That means planning to bet big later is a poor strategy for fulfilling those terms. Read up on bonus terms before wagering if you want to take advantage of them.
Once the terms are fulfilled, bettors will find the bonus in their accounts. That could be site credits for additional betting or risk-free bets worth redeeming. Bettors should check their accounts and betslips if they’re looking for the rewards they reaped from their sportsbook bonus.
Colorado Sports Betting Bonus FAQs
21. While daily fantasy sports players only need to be 18, sports bettors must be a little older. This staves off a potentially thorny legislative issue. The idea of high school seniors gambling online is unsettling, even to gambling supporters. Raising the sports betting age got around that and likely helped keep mobile sports betting out of high schools.
Yes. Because bettors create separate accounts at each sportsbook, they can claim each sportsbook’s bonus. However, they can only claim bonuses once. Each sportsbook account is tied to a social security number. It’s hard to fake two accounts. Even if bettors could borrow a social security number, sportsbooks would suspend that account if they suspected that it was the same person. Sportsbooks have massive sets of data to use to identify duplicate accounts. Fooling them isn’t as easy as bettors may think.
Each playthrough requirement can differ from sportsbook to sportsbook. However, most of them are associated with deposit bonuses. After fulfilling the deposit requirement for a deposit bonus, bettors often have to wager their money to unlock site credits. They can take the form of fixed site credits per dollar wagered or a percentage of wagered dollars. Bettors must understand each bonus to learn how they wish to fulfill their playthrough requirements.
Bonus abuse is using multiple accounts to benefit from bonuses multiple times. Sportsbooks anticipate a certain return-on-investment from their bonuses. They expect to spend a little money to retain bettors over their full customer lifetimes. But those calculations assume one bonus per sportsbook. Any more than that is theft.
As long as bettors aren’t creating multiple accounts to profit from different bonus terms, then they’re fine. They can create single accounts at multiple sportsbooks, but creating multiple accounts at any sportsbook will get them in trouble.
DraftKings Sportsbook offers a $1,000 deposit bonus at a 20% match rate. If bettors deposit $100, they can earn up to $20 in site credits. However, bettors also have to use the money to bet. DraftKings requires its bettors to play $25 to earn each $1 of site credit. In the $20 example, a bettor would need to wager $500 for the bonus credits. For the full $1,000, bettors would need to play $25,000. Bettors are rewarded based on how much they deposit and play. As long as bettors are wagering at the pace they’ll normally wager, they’re getting a fair value of the bonus.
FanDuel offers a $1,000 risk-free bet to its new bettors. If a bettor’s first wager loses, then they’ll get site credits back equal to their losing bet, up to $1,000. Betting big on the first wager may be a good value for bettors with cash to spare. However, site credits are not the same as winnings. Bettors can withdraw winnings from their accounts. They cannot withdraw site credits. Bettors can only use site credits for betting on FanDuel.
Sometimes. Some sportsbooks require bettors to use their bonuses on bets with certain odds. Colorado sportsbooks usually set the minimum odds around -200. That way, sportsbooks don’t lose too much money giving away bonus credits and paying additional winnings. Each sportsbook bonus has its own terms, but this is the most common one. Bettors have to watch for these on risk-free bets more than anywhere else. Otherwise, bonus terms should be largely clear.
Estimated Read Time: 3 minutesSee All Guides
- Bonuses are an easy way to increase your bankroll, but they come with conditions
- Sportsbooks typically require you to wager a certain amount before bonuses can be withdrawn – this is called play-through
- Understand betting play-through requirements with this guide
It’s easy to understand that sportsbook bonuses are a great way to bolster your bankroll. Figuring out exactly what terms and conditions you have to fulfill before you’re able to withdraw these bonuses is not as simple.
Every bonus offered by an online sportsbook, regardless of whether it’s an initial deposit bonus, a free bet bonus, or otherwise, comes with a set of wagering requirements.
Understanding detailed terms of bonuses such as play-through requirements and time limits can be complex, and sportsbooks often use complex jargon to obscure the complexities of redeeming these bonuses.
That’s where we come in. To have all the nuances of your sports betting bonus explained in simple, plain English, read on!
Find the best sign-up bonuses offered this season by checking our list of the best betting bonuses. Every site on the list has their best deposit bonus offer listed.
What Does Play-Through Mean?
Firstly, “play-through” can also be referred to as “rollover.” Two terms are interchangeable.
An example might help in understanding just what these mean. Let’s say that you deposit $250 to a sportsbook that is offering a 50% bonus with a 5x rollover. This means that you’ll have $375 to bet with, but can’t withdraw the bonus money until you’ve placed $1,875 ((250+125)x5) in bets.
The following table illustrates how much you will have to wager in order to clear common rollover/play-through requirements and obtain your bonus money, assuming a $100 initial deposit:
Sportsbooks calculate rollover and the bets that go towards clearing it differently, so be sure to read the terms and conditions carefully.
Sportsbooks May Place Odds Restrictions and Time Limits on Rollover
Some sportsbooks credit you your risk amount for losing bets, and the lesser of the risk or win amount for winning bets. This means that if you bet $10 on the Patriots at -110, you earn $10 towards your rollover requirement if they lose, but only $9.09 if they win.
Most books have rules against betting strong favorites to clear the rollover, so don’t be surprised if you have to bet at higher than even money to earn credit towards your rollover. If you have to bet at better than 2/1, it’s probably not a good deal.
Another thing to look out for is a time limit on the rollover. Rushing your bets to clear an arbitrary threshold is a sure way to place poor bets and lose money. Before you take a bonus with a time limit, calculate how much you need to bet per week to clear that requirement, and figure out if this makes sense for the way you want to bet.
Depending on Your Online Sportsbook, There May Be Additional Requirements on Your Bonus
Besides play-through requirements, sportsbooks have a variety of other terms associated with sign-up bonuses that you need to be aware of in order to clear your bonus for withdrawal.
They vary from sportsbook to sportsbook, so it’s worth reading the fine print before jumping on one and trying to cash out before you’ve met all of them.
Here are some examples of additional requirements:
- Bets with a price of less than or equal to -200 (1.5) do not count toward fulfilling sportsbook bonus rollover requirements
- No withdrawals can be made within 30 days of claiming this promotion
- Only eligible for use in sports, horse racing, and casino
- You can only have one active bonus at any one time. To claim another bonus the current active bonus must be completed or closed first.
- In multiple bets, at least one selection must have odds of 1.50 (1/2) or greater to count towards any turnover requirement
Essentially, you might have to look out for the following requirements at your sportsbook:
- Odds restrictions on bonuses. Some bets may not count towards your rollover beyond a certain threshold. Usually, this means that you can’t just bet on massive favorites over and over again for your rollover requirement.
- You may have to wait for a specified time period before you withdraw your bonus.
- You may be restricted to only using your bonus at certain sections of your sportsbook.
- Sometimes, a sports betting site offers multiple bonuses. This is common if they have ongoing bonuses. You’ll likely only be able to have one active bonus at a time.
Apply Your Knowledge and Start Betting Today!
Now that you know exactly how sports betting bonuses work, you know the next logical step: start betting!
Sportsbooks With 100% Bonuses
No matter whether you’re after a sign-up bonus or an ongoing bonus, we can point you in the right direction with that helps you decide on the optimal sports betting bonus.
Anything else you want to know about sports betting bonuses that we haven’t covered? Email us and we’ll make sure to cover it in an upcoming article.