Colorado Online Sports Betting

Colorado

From the Front Range to the Springs – the good people of the Centennial State love their sports teams & Coloradans enjoy wagering on the success of those teams. If you are new to sports betting online in CO, then you can pick up one of of our introductory bonus bet offers below and get involved in the fun!

If you or anyone you know has a gambling problem, please call 1-800-GAMBLER.

Colorado Sportsbook Bonuses

Get a Winning Start to Online Betting in Colorado

Before you sign up to a sportsbook – make sure you grab one of the sign-up offers on this website by clicking on one of our Claim Offer links above (affiliate disclaimer: we may receive a payment from the sportsbook for this service).

Our links will automatically open the Colorado sportsbook sign-up page for you – and also trigger any signup bonus reward mechanism. Depending on the sportsbook – you may also be asked to add a promo or bonus code, these are clearly stated on our offer pages.

By signing up to a sportsbook through Bonus Bet USA and then following the simple bonus-activation process, you will activate the offer listed above and snag your bonus bets. Every offer comes replete with its own terms and conditions, which might include receiving the listed bonuses in multiple bet-increments, time-boxed betting windows, or, what is known as play-through requirements.

These are super-simple yet important to understand. We clearly state the relevant terms & conditions within our offer pages, be sure to read them – an informed bettor is a smarter bettor!

You may need to prove your identification and/or residential status during sign-up, so have a think about where your documentation is before you begin. It is usually your social security number that is requested upfront, but some sportsbooks require further ID checks, so make sure you have your drivers license or state ID card to hand.

Placing bets with online sportsbooks is both safe and legal in the state of Colorado. As of May 1st 2020, individuals that are over the age of 21 are able to bet online with multiple sportsbooks. Betting on collegiate sport is also legal, through there are restrictions around proposition bets.

Further Reading: House Bill 1327

Sports Betting Winnings are Taxable in Colorado

Sports betting winnings in Colorado are subject to taxation. Any income derived from gambling, including sports betting winnings, is considered taxable income by the Internal Revenue Service (IRS) and the Colorado Department of Revenue.

If you have net gambling winnings over a certain threshold, you are required to report those winnings as taxable income on your federal income tax return (Form 1040) and your Colorado state income tax return. This includes winnings from sports betting, whether obtained through online platforms or in-person at a retail sportsbook.

In the United States, gambling winnings are generally treated as taxable income, similar to other forms of earned income. The IRS requires individuals to report gambling winnings on their federal tax returns, and the applicable tax rate depends on your overall taxable income and filing status.

It’s important to keep accurate records of your gambling activities, including winnings and losses, as well as any relevant documentation provided by sportsbooks or online operators. These records will be necessary for accurate reporting and potential deductions of gambling losses, which can offset your taxable gambling income.

Who Regulates Colorado Sports Betting?

The Colorado Limited Gaming Control Commission and the Colorado Division of Gaming are the statutory authority over the regulation of legalized sports betting in Colorado.

Further Reading: Colorado Limited Gaming Control Commission Policies

Responsible Gambling In Colorado

Bonus Bet USA supports Fun, Safe & Responsible Gambling. Head to our Responsible Gambling page for more information and links to resources which could be helpful. Gambling and sports betting are designed purely for fun and entertainment, but when they escalate to harmful levels, severe repercussions can follow. In essence, any gambling that negatively impacts your personal or work life constitutes problem gambling.

The notion of responsible gambling encourages secure, controlled, and lawful gambling experiences while reducing the potential harm to individuals, families, and society. The saying “too much of a good thing can be detrimental” is definitely applicable to gambling.

Signs of Problem Gambling

Several warning signs indicate problematic gambling behavior, such as:

  • Frequently daydreaming about gambling or betting strategies
  • Increasing bets to achieve the thrill of excitement
  • Wagering money not designated for entertainment or money you cannot afford to lose
  • Feeling irritable, anxious, or annoyed when ceasing gambling activities
  • Engaging in illegal activities to support or fund gambling
  • Taking loans to finance gambling
  • Attempting to recover lost funds by placing larger bets
  • Deceiving friends, family, and colleagues about the extent of your gambling

However, the most significant and telling sign of excessive gambling is the inability to stop or reduce it despite attempts to do so. In addiction terminology, this is referred to as acting “without your own permission.”

If you or anyone you know has a gambling problem, please call 1-800-GAMBLER.