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The Colorado sports betting cupboard has 20 online sportsbooks, like DraftKings, FanDuel, BetRivers, BetMGM, Fanatics, and Caesars, which means CO sportsbook promos are generous. This guide will highlight sign-up bonuses from the best sportsbooks while emphasizing Colorado’s top five best betting offers.

Top CO sports betting bonuses

#1

Bet $5, Win $150 in Bonus Bets

Features

  • Top-tier app experience.
  • Same Game Parlays and SGP+.
  • Extensive promos and odds boosts.

FanDuel Review

FanDuel reigns supreme right now as the No. 1 betting site in America. And it has largely earned that spot on the strength of superior brand recognition, an easy-to-use product, an overwhelming number of markets for North America’s most popular sports, and representation in every state in which it is permitted to offer legal sports betting.

Features

#2

$1,000 First Bet on Caesars

Features

  • Earn Caesars Rewards from betting activity.
  • Live streaming of NFL games.
  • User-friendly mobile app.
Bet Now

Caesars Sportsbook Review

Caesars is proving to be one of the most aggressively expanding brands in sports betting. Unfortunately, like all major U.S. sportsbooks, they are quick to limit you if you go on a tear and their odds boost promos offer low maximum bet limits.

Features

#3

Bet $5, Get $150 in Bonus Bets

Gambling problem? Call 1-800-GAMBLER

Features

  • Extensive live betting options.
  • More markets than any other sportsbook.
  • One of the best apps in the industry.
Bet Now

bet365 Review

bet365 is one of the largest and most popular sportsbooks globally. With a well-received mobile app, popular same-game parlays, and a wide variety of sports leagues to bet on it’s no wonder 80 million sports bettors worldwide continue to use bet365.

Features

#4

Get up to $1,000 in Bonus Bets

Features

  • Live in 15 states
  • Extremely powerful brand history and recognition
  • FanCash reward system is great for sports fans

Fanatics Sportsbook Review

Fanatics Sportsbook has launched its app in a dozen states already, with plans to expand to more in the near future. Fanatics is poised to be a major player in the sports betting industry.

Features

#5

No Sweat First Bet up to $1,000

Features

  • Lots of promos and odds boosts.
  • Wide range of sports and bet types.
  • Seamless integration with DFS.

DraftKings Review

DraftKings had a solid reputation as the leading DFS provider in the country, so the shift to legal sports betting felt natural. They offer one of the most voluminous collections of ongoing promos and odds boosts in the industry as they cater to the beginner crowd. However, their reputation has dwindled as outspoken CEO Jason Robins leads the charge of the anti-profitable bettor mentality that runs rampant amongst sportsbooks that are quick to limit winning players.

Features

#6

Up to a $250 Second Chance Bet

Features

  • Competitive odds across all markets.
  • Live betting section is well organized.
  • Earn iRush Rewards from betting activity.

BetRivers Review

BetRivers is in Colorado! BetRivers has a welcome bonus of up to a $250 second chance bet. Use promo code SBRBONUS upon sign-up to claim.

Must be 21+. If you or someone you know has a gambling problem, call 1-800-GAMBLER. 

Features

#7

Bet $5, Get $150 in Bonus Bets

Features

  • Some of the best live-betting odds.
  • Casino Operator of the Year in 2021 and 2022.
  • Earn MGM Rewards from betting activity.
Bet Now

BetMGM Review

BetMGM is one of the top-rated sportsbooks in the U.S. offering some of the best live betting odds in the industry. They’re also the largest iGaming operator across the U.S.

Features

#8

Up to a $250 Bonus Bet

Features

  • Massive selection of markets.
  • Easy-to-use interface.
  • Wide variety of banking options.

Betway Review

While this book won’t wow you with its design, you won’t find many apps easier to navigate – or with the sheer volume of sports markets Betway offers. And although you'll find more generous signup offers elsewhere, Betway remains a strong global sports betting brand that deserves to be mentioned among the second-tier sportsbook options in the U.S.

Features

#9

Get up to $250 in Bonus Bets

Features

  • Great user interface.
  • Deep selection of bets in major sports.
  • Ongoing promotions for recurring players.

ClutchBet Review

Bringing its successful track record from Australia to the U.S., ClutchBet is a solid addition to the Colorado, Iowa, and Louisiana sportsbook markets.

Features

Affiliate Disclosure: Sportsbook Review may receive advertising commissions for visits to a sportsbook betting site.

21+. Gambling can be addictive, please play responsibly

All Colorado sportsbook promo codes and bonuses

Colorado’s appetite for legal online sports betting is evident in that 20 operators are active. With almost two dozen options and licenses to spare, each sports betting site is jockeying for position and market share in the Rocky Mountain State. Of the 20, only five require bettors to enter a promo code at the time of the first deposit: bet365, BetMGM, BetRivers, Caesars, and SuperBook.

While most welcome bonuses are first-bet insurance or bonus bets, some operators, like Betsafe and Tipico, offer the rarely-seen deposit match bonus.

Colorado sportsbook 🏆Promo code Welcome bonus 💰
⭐FanDuelClaim $150 without codeBet $5, win $150 in bonus bets
⭐DraftKingsClaim $1,000 without codeUp to $1.000 No Sweat first bet
⭐bet365SBR365Bet $5, get $150 in bonus bets
⭐BetMGMSBRBONUSBet $5, get $150 in bonus bets
⭐BetRiversSBRBONUS$250 second chance bet
⭐CaesarsSBRBONUS1000$1,000 first bet on Caesars
⭐SuperBookSUPERBOOK$250 first bet bonus
⭐Bally BetClaim $550 without code$550 second chance bet
⭐BetfredClaim $105 without code$105 on Fred
⭐BetMonarchClaim reward without codeReward points
⭐BetsafeClaim $500 without code$500 deposit match
⭐BetwayClaim $250 without codeUp to $250 bonus bet
⭐Circa SportsStart without codeHigh limits
⭐ClutchBet SportsbookClaim $50 without codeBet $10, get $50
⭐ESPN BETClaim $100 without codeGet $100 in bonus bets
⭐Fanatics SportsbookClaim $1,000 without codeBet $100, get $100 (x10 days)
⭐SBKClaim $100 without codeBet $20, get $100
⭐SI SportsbookClaim $200 without codeBet $20, win $200
⭐Sky UteClaim reward without codeRewards program
⭐TipicoClaim $250 without code100% deposit match up to $250

Gambling Problem? Call 1-800-GAMBLER

The welcome bonus amounts are just the tip of the iceberg when it comes to Colorado sports betting. Here's a quick breakdown of my five favorite sportsbooks in the states, including more details about the value of the sign-up offers.

1. FanDuel CO welcome offer 🔵

FanDuel

Bet $5, Win $150 in Bonus Bets

21+. Gambling Problem? Call or TEXT 1-800-GAMBLER

The best online sportsbook in Colorado has a welcome bonus for new players. FanDuel offers a bet $5, win $150 in bonus bets reward for anyone who wins a qualifying wager on any available betting market. No FanDuel promo code is required. FanDuel also has some of the best Big Game boosts and a selection of props.

  • Available via the FanDuel app only.
  • Minimum deposit of $10 is required.
  • Make an initial wager of $5. If it wins, FanDuel will credit your account with $150 in bonus bets.
  • If your first bet loses, you'll receive zero bonus bets.
  • Bonus bets will hit your account within 72 hours of your first wager settling.
  • Bonus bets must be used within seven days
ProsCons
✅ Low initial risk required❌ Quick expiry
✅ Bonus can be split into multiple bets❌ Available in the app only
✅ Only a $10 min deposit required❌ First bet must win

What does the promo mean for you?

FanDuel’s Colorado welcome promo means new players can get $150 in bonus bets in exchange for any wining wager of $5 or more. If your bet loses, you do not earn the bonus. 

How much money can be earned with the promo?

Once you receive your bonus bets, you cannot withdraw them. Instead, you must use them to wager further with the sportsbook. So, the amount of real cash you can earn will depend on how you want to use the bonus funds.

Why this bonus is better than others

FanDuel does require you to win your first bet in order to collect this bonus, which is a bit of a bummer. However, if you do collect $150 in bonus bets, you can use them as freely as you like. Make one big $150 bet or 150 smaller $1 bets. You have complete freedom, which most similar offers don't match.

Screenshot of the FanDuel Sportsbook app for Android. 
FanDuel Android App

2. DraftKings CO welcome offer 👑

DraftKings

No Sweat First Bet up to $1,000

21+. Gambling Problem? Call or TEXT 1-800-GAMBLER

DraftKings’ current welcome bonus is perfect for newbies. No DraftKings promo code is required to get in on the $1,000 No Sweat first bet offer. DraftKings also sports some of the top super boosts out of any sportsbook, especially when major events like the Super Bowl or March Madness roll around. 

  • You must deposit at least $5 and place a qualifying wager of $1 or more on any sport.
  • If your bet loses, you'll receive your stake amount back as a single bonus bet, up to $1,000.
  • The bonus bet cannot be withdrawn as cash or split into smaller chunks.
  • Bonus funds must be used within seven days.
ProsCons
✅ No promo code required❌ First bet must lose to qualify
✅ Only a $1 initial wager needed❌ Seven days to use bonus
✅ High max. value
✅ Easy to read terms and conditions

What does the promo mean for you?

This promo is a straightforward first-bet insurance offer. If you lose your first qualifying bet on DraftKings, you'll get a refund via a bonus bet up to the $1,000 maximum limit. You must then use the bonus bet to make another wager, giving you a second chance to pick a winner. 

How much money can be earned with the promo?

The face value of this promo is $1,000, at the upper limit. However, you have to lose your first bet in order to collect, so don't be fooled by the marketing language. If you do collect a bonus bet and pick a winner, your payout won't include the original bonus bet amount. So you could come out with a total loss, depending on the odds of your bet.

Why this bonus is better than others

This bonus is better than others because of its potentially high value. Not many sportsbooks offer welcome bonuses into the four-figure range. 

Screenshots of the DraftKings Sportsbook iOS app.
DraftKings iOS app

3. BetMGM CO welcome offer 🦁

BetMGM

Bet $5, Get $150 in Bonus Bets

21+. Gambling Problem? Call or TEXT 1-800-GAMBLER

BetMGM recently unveiled a special welcome offer to celebrate the pro football postseason and championship game. It has paused its typical first-bet insurance deal in favor of a bet $5, get $150 in bonus bets. If you register a new account with the BetMGM bonus code SBRBONUS and make a first bet of at least $5, you'll claim $150 in bonus funds.

  • Minimum deposit of $10
  • It doesn't matter if your first bet wins or loses. You'll earn the bonus bets regardless.
  • The bonus bets come in six (6) $25 chunks.
  • Bonus bets cannot be cashed out and expire in seven days.
  • Offer expires on Aug. 12, 2024, at 11:59 p.m. EST.
ProsCons
✅ Low minimum deposit❌ Lower total bonus value
✅ Guaranteed bonus bets❌ Bonus bets expire in a week
✅ Small first risk of just $5

What does the promo mean for you?

BetMGM's promo is pretty simple. If you bet at least $5 on your first real money wager after creating your account, you'll earn $150 in bonus bets. They come in six $25 slices and enable you to make additional wagers on the sportsbook. 

How much money can be earned with the promo?

The face value of this bonus is $150. However, you cannot cash that amount out directly. You must use the bonus bets to make more wagers on BetMGM, so your total potential profit is determined by the picks you make and their corresponding odds. 

Why this bonus is better than others

This bonus is better than others because it requires very little risk to earn a solid reward. Just slap down a $5 bet, and you'll earn the $150 in bonus bets, win or lose. 

Screenshot of BetMGM Sportsbook app on Android.
BetMGM Android App

4. BetRivers CO welcome offer ⚡

BetRivers

Up to a $250 Second Chance Bet

21+. Gambling Problem? Call or TEXT 1-800-GAMBLER

BetRivers has shifted its welcome bonus a little in recent months. Rush Street Interactive’s top-rated sportsbook offers a second chance bet of up to $250, and bettors must enter the BetRivers bonus code SBRBONUS at the time of first deposit.

  • Minimum deposit of $10 is required
  • First bet must lose to earn first bet insurance
  • Bonus funds will be added to your account within a day
  • Odds restrictions do apply when using bonus funds
  • Bonus must be wagered on events with odds -200 or longer
ProsCons
✅ Low minimum deposit required❌ First bet must lose to earn
✅ Allows first bet to be more aggressive❌ Odds restrictions on the bonus bet
✅ Bonus funds hit quickly

What does the promo mean for you?

BetRivers will stake Colorado bettors up to $250 on their first bet. If the first wager is a loss, BetRivers will credit up to $250 in insurance funds to your account within a day.

How much money can be earned with the promo?

If your first bet wins, you can earn no money via this promo.

If your first bet loses, you can earn money by winning future bets using promo funds. Remember, the insurance funds themselves can’t be withdrawn as cash, but you can utilize them to your advantage and make money by winning future bets.

Why this bonus is better than others

It allows new players to be slightly more aggressive as BetRivers insures their first bet up to $250.

Screenshot of BetRivers Sportsbook app on Android.
BetRivers Android App

5. Caesars CO welcome offer 🏛

Caesars

$1,000 First Bet on Caesars

21+. Gambling Problem? Call or TEXT 1-800-GAMBLER

Caesars doesn't change their offer very often, but that's not a problem since they have one of the best deals in the industry. New users can snag an offer of up to $1,000 first bet on Caesars. Just use the Caesars Sportsbook promo code SBRBONUS1000 when registering.

  • Minimum deposit of $10.
  • Make your initial bet within 30 days of opening your account.
  • First bet must lose to unlock first bet insurance.
  • Bonus funds will be credited to your account within 48 hours of the first losing bet settling.
  • You must use all bet insurance bonus funds in a single wager.
  • You must use the bonus fund within 14 days.
ProsCons
✅ High-value bonus❌ First bet must lose
✅ No odds or market restrictions ❌ Quick expiry date
✅ Great for veteran bettors❌ Can’t withdraw as cash

What does the promo mean for you?

In short, it means Caesars protects new players from a first bet loss of up to $1,000. 

How much money can be earned with the promo?

If your first bet loses, the amount of money you can earn in the future depends solely on the success of your second bet. Caesars' terms and conditions require you to wager all your insurance bonus funds on a single bet. So, you must win your second bet to earn money with this promo.

Why this bonus is better than others

New players can enjoy a $1,000 safety net on their first bet, allowing them to try for a riskier initial wager.

Screenshot of Caesars Sportsbook for Android. 
Caesars Android App

How we rate and review sports betting promotions

Our editorial team independently reviews and rates each Colorado online sportsbook and sports betting app for quality, safety, and user experience. Our experts apply the same rigorous evaluation when critiquing the sports betting promotions operators offer new and veteran players. We want everyone to do their due diligence and make an educated decision before signing up with a new online sportsbook, and the quality of the sites’ and apps’ promotions is a big part of the puzzle. Some areas we concentrate our attention on are:

  • The sign up offers minimum and maximum value.
  • Is a minimum deposit required to earn the bonus? If yes, how much?
  • Is the welcome bonus guaranteed?
  • What kind of bonus is being offered: Deposit match, bonus bet, or first bet insurance?
  • Is a promo code required to activate the offer?
  • What are the playthrough requirements or terms and conditions needed to collect the offer?
  • Does the welcome bonus have an expiration date, and how long is it?

Colorado sports betting promos quick facts

🚀 CO apps launch dateMay 2020
➡️ Legal betting age21+
📱  Sports betting apps20
🤔 Do promos require codes?Sometimes
🤔 Can you withdraw bonus funds?No
🏆  Best CO bonusBet $5, get $150 on bet365
🏆  Biggest CO bonusUp to $1,000 first bet on Caesars
💰  Available bonus typesAll types
🎰 Online casinosNo
🃏  Online pokerYes
🎮 eSports bettingYes
☎️ CO problem gambling hotline1-800-GAMBLER
🧑‍🤝‍🧑 Gambling Addiction Counseling Yes
🔔 CO regulatorColorado Division of Gaming

Types of Colorado betting sign-up offers and bonuses

Colorado is one of the few states where three operators do not offer new players sign-up offers or bonuses. BetMonarch, Circa Sports, and Sky Ute have an uphill climb to compete with FanDuel, DraftKings, and others, with loyalty rewards as their most player-friendly promotions. As for the other online sportsbooks, the three most common sign-up bonuses are bet bonuses and first bet insurance.

Deposit match bonus

The deposit match bonus is the most attractive of all sign-up offers because new players earn bonus funds no matter if their first bet wins, loses, or even if they bet at all.

For example, a 100% deposit match up to $500 would mean a new player who deposits $500 would earn a $500 bonus for $1,000 in available funds in their account wallet. A 50% deposit match up to $1,000 would mean a $2,000 deposit would earn $1,000 bonus funds for $3,000 to start. This bonus is the most satisfying of all sign-up bonuses, but becoming more challenging to find as more operators enter the market.

Bonus bets

Some industry leaders, like DraftKings and FanDuel, prefer bet bonuses over a deposit match or first bet insurance. In these scenarios, new players must make a minimum deposit — typically around $10 — and sometimes make a small first wager to unlock the bonus bet funds. Sometimes these bonus bets will be chopped up into increments of, for example, eight (8) $25 bets on a $200 bet bonus, or, in other cases, you can use the entire value of the bonus bets on a single future wager.

For example, if operator X offered a bet bonus of $200, the new player may first be required to deposit $10 and then make a $5 first-time wager. After that initial bet clears, the $200 will be credited to your account. You could risk the $200 on any future bet as the new player. Remember that terms and conditions, and playthrough requirements, may apply before you can request a payout.

First bet insurance

First bet insurance is becoming more common as operators look for new ways to entice new players to sign-up. The bottom line is that to earn any welcome bonus monies, your first bet has to lose. However, this also means you can be more aggressive in your first bet than you would if there was no safety net insurance.

For example, Caesars often offers first-bet insurance up to $1,000. So, if you wager $1,000 on your first bet and it wins, you get a significant boost to your bankroll. Conversely, Caesars will credit your account with $1,000 in bonus bets if your first bet loses. Just remember that bonus bets from first-bet insurance deals expire quickly and can't be withdrawn as cash. 

Referral bonus

Beyond the welcome bonuses, sportsbooks will often offer extra promotions on a regular basis. One of the more common types is a referral bonus, where you can earn an extra perk, like a small bonus bet or some cashback, by getting your friends to sign-up to the sportsbook too.

You'll get a unique code or referral link. If someone uses that referral info to register a new account and make a real money deposit, you'll be rewarded with some sort of bonus. Discover which platform offers the best sportsbook referral bonus via our complete guide.    

Colorado online sportsbooks

Did you know Colorado offers the most legal online sportsbooks in the United States, with 20 active sports betting sites and apps? Interestingly, when the first batch of operators launched their products in May 2020, state law allowed 33 licenses to be issued. So, 13 more online sportsbooks and sports betting apps can still enter the market in the near future. With so much competition, sports betting site operators often work to create a unique user experience in the state, making the entry point more accessible and welcome bonuses and ongoing promotions the most attractive to new players.

Here are all 20 Colorado sports betting apps you can use:

Colorado online and mobile sportsbooks

CO sportsbookBest known for
Bally BetLive in-game betting
bet365Live video streaming
BetfredDaily odds boost
BetMGM"King of Parlays"
BetMonarchColorado-based app
BetRiversAward-winning parent company
BetsafeLarge menu of betting options
BetwayDaily odds boosts
CaesarsHuge welcome bonus
Circa SportsHigher betting limits
DraftKingsIndustry leader
ESPN BETPersonality driven promos
Elite SportsbookEasy withdrawals
Fanatics SportsbookApparel partnerships and rewards
FanDuel#1 rated app
SBKPrice+
SI SportsbookPerfect 10 contest
Sky UteTop safety and security features
SuperBookEarly lines
TipicoDaily promotions

Colorado sports betting latest news

Feb. 21, 2024: A partnership between bet365 and SIS will allow fixed odds horse racing in Colorado. It's the first time this type of betting has been made available online anywhere in the U.S.

Feb. 2, 2024: Colorado announces that December 2023 set a new monthly record for betting handle, hitting $716.4 million. That topped the old monthly record by more than $100 million and brought the annual total to $5.56 billion. 

Jan. 15, 2024: Colorado announces a new monthly betting handle record for November 2023, which saw $608.4 million in total bets made. 

Nov. 14, 2023: ESPN BET goes live in Colorado, along with 16 other states. 

Oct. 10, 2023: Colorado reports an August sports betting handle of $306.1 million, more than $15M more than the same month in 2022. 

Sept. 12, 2023: The Colorado Department of Revenue reports that sports bettors accounted for a handle of $281.1 million in wagers for the month of July 2023.

Aug. 11, 2023: WynnBET announces they are closing their betting app in CO, along with five other states. They will remain open in New York, Massachusetts, and Michigan.

July 24, 2023: PlayUp Sportsbook requests to be put into "maintenance mode" after exiting the New Jersey market. However, the site is still actively accepting bets.

April 5, 2023: The Colorado Rockies announce a three-year partnership with bet365.

March 3, 2023: Sen. Dylan Roberts and Rep. Cleave Simpson introduce Senate Bill 177, which would potentially allocate more then $10 million in sports betting revenue to state water projects.

Feb 17, 2023: The Colorado Limited Gaming Commission fines Monarch Casino $400,000 for proxy betting by three employees.

May 2020: The first online sports betting sites go live in Colorado. BetMGM, BetRivers, DraftKings, and FanDuel are all among the first books to launch.

May 2019: Governor Jared Polis signs House Bill 1327 into law, legalizing sports betting in Colorado.

Colorado betting resources

For those new to sports betting in Colorado, before you dive too deep into the best sports betting promos in the state, you’ll want to check out some other guides. Our team of experts produced several helpful guides that break down the top sportsbooks, premier sports betting apps, and best sportsbook promos.  

Sports betting by category

It doesn't matter what sport or league is your favorite; there's a great sportsbook bonus waiting for you at any number of legal and licensed sportsbooks in your state. Here's a list of the best sportsbooks by category, to make your decisions even easier:

Responsible sports betting with Colorado promos

The governing body of Colorado’s sports betting industry is a little unique compared to the rest of the country. The Colorado Division of Gaming (CDOG) is part of Colorado’s Department of Revenue – Specialized Business Group. The CDOG is responsible for ensuring the integrity of sports betting within the state while reviewing operator applications, issuing licenses, performing regular audits, enforcing laws, and handing out fines when necessary. The CODG also provides problem gambling resources for those in need.

Here are some of the problem gambling programs and options available:

National U.S. gambling helpline: 1-800-GAMBLER

Colorado sportsbook promos FAQs

What’s the best sports betting bonus in Colorado?

The term "best" is relative to individual preference. However, we would strongly suggest that bet365's bet $5, get $150 in bonus bets deal is among the top contenders since it requires very little risk, and your first bet doesn't have to win or lose to claim the bonus funds. 

Which verified Colorado sportsbook promos are the best value?

The CO sportsbook promo with the best value depends on your own betting style and budget. Some prefer smaller bonuses that are guaranteed, like bet365's bet $5, get $150 in bonus bets deal. Others want higher overall value, like DraftKings or Caesars' $1,000 first-bet insurance offers.

How old do I need to bet on sports in Colorado?

You must be at least 21 to bet on Colorado sports.

Do all Colorado sportsbooks provide sports betting promo codes?

No, promo codes are NOT required at most online sportsbooks and sports betting apps. Promo codes are sometimes automatically applied when opting for an offer or bonus, which is one less thing to worry about. If you do need a promo code, check our list above for the latest verified and accurate codes.

What are the playthrough requirements on legal online sportsbooks in Colorado?

Welcome bonus and regular promotion playthrough requirements vary based on the online sportsbook. The good thing is, unlike in the past, the terms and conditions tied to all offers are spelled out in crystal clear messaging before you opt into any bonus or promotions. Read through the T&Cs and understand playthrough requirements before accepting a bonus offer.

How many sign-up bonuses can I claim in Colorado?

You can claim a single sign-up up bonus from every online sportsbook in CO that offers one. Remember that the welcome bonus is a one-time promotion for new customers only.