Colorado Sports Betting Promos and Bonuses: Up to $4,950 in Bonuses May 2025

All Colorado sportsbook promo codes and bonuses

The Colorado sports betting appetite is evident with 15 of the best sportsbooks legally operating in the state. With more than a dozen options and licenses to spare, each sports betting site is jockeying for market share in the Rocky Mountain State. Of the 15, only four require bettors to enter a promo code at the time of first deposit: bet365, BetMGM, BetRivers, and Caesars.

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 six favorite sportsbooks in the state, including more details about the value of the sign-up offers.

1. BetMGM CO welcome offer 🦁

Bet $10, Get $150 If You Win

Bonus bets will expire in 7 days. One new customer offer only. Additional terms and conditions apply.

Play Now

21+ and present in CO. Gambling Problem? Call 1-800-522-4700.

BetMGM offers an enticing welcome bonus in Colorado. New players can earn a bet $10, get $150 offer, which would be paid out as bonus bets if you win. The BetMGM bonus code SBRBONUS is required for this bonus.

• Register a new BetMGM account with the code SBRBONUS.
• A minimum first-time deposit of $10+ is required.
• Bet $10 or more on any market. If your bet wins, you'll unlock $150 in bonus bets.
• Bonus bets must be redeemed within seven days of receiving them.

Why this BetMGM bonus is better than others

BetMGM offers a $150 bonus, which you can claim simply for making any wager of $10. While your bet has to win to claim this bonus, it's a good way to boost your stake with minimal risk. 

2. Fanatics CO welcome offer 🧢

Choose: Bet $50, Get $250 or $1,000 Bonus

Terms and conditions apply.

Choose Bonus!

21+ and present in CO. Gambling Problem? Call 1-800-522-4700.

Fanatics is relatively new in the sports betting industry, but its welcome offer goes toe-to-toe with the more established brands. First-time customers get a choice of two great sign-up bonuses: a Bet $50, Get $250 in Bonus Bets deal OR ten daily No Sweat Bet opportunities (up to $1,000 in total). No Fanatics Sportsbook promo code is required.

The best offer is arguably the Bet & Get deal, giving new players $250 in bonus bets in exchange for five $10+ wagers. 

• Register a new account with Fanatics and choose the Bet $50, Get $250 welcome bonus.
• Deposit at least $10 into your account.
• Make a wager of $10 or more on Day One of having your account, with -500 odds or longer.
• Win or lose, get $50 in Bonus Bets in your account.
• Repeat on Day Two, Day Three, Day Four, and Day Five for another $200 in Bonus Bets ($50 per day).
• Bonus bets cannot be withdrawn as cash and expire after seven days.

The daily $100 No Sweat Bets require a daily wager of $1 or more at -500 odds or longer. If your bet loses, Fanatics will return your stake as a bonus bet, up to $100 every day. 

Here are the details:

• Register a new account with Fanatics Sportsbook (mobile app only).
• Deposit at least $10 into your account.
• Make a daily qualifying bet of $1 or more, with minimum odds of -500 or longer.
• If your bet loses, Fanatics will refund the entire stake as a bonus bet, up to $100.
• Repeat this process for the first ten days after creating your account (10 x up to $100 per day).
• Opt-in required on every day except Day One.
• Bonus bets are only awarded if your daily qualifying wager loses.
• Missed days are forfeited, but you can still earn the bonus on any remaining days.
• Bonus bets cannot be withdrawn as cash and expire after seven days.

Why this Fanatics bonus is better than others

Several sportsbooks offer welcome bonuses reaching $1,000, but Fanatics has taken a unique approach to its bonus structure. Spread over ten days, you get multiple chances to make qualifying No Sweat Bets and can bet anywhere from $1 to $100 each day.

Or, if you prefer, you can choose the Bet $50, Get $250 in Bonus Bets welcome offer. This promotion offers a ton of value for a relatively small risk. Even if you lose all five of your $10 bets, you'd still have $250 in bonus bets to use to recoup those early losses. 

3. FanDuel CO welcome offer 🔵

Bet $5, Get $200 in Bonus Bets

New customers only. Deposit min. $5. Place first bet of $5+ and get $200 in Bonus Bets, win or lose. (within 72 hours).

Claim $200

21+ and present in CO. Gambling Problem? Call 1-800-522-4700.

The best online sportsbook in Colorado has a welcome bonus for new players. FanDuel offers a bet $5, get $200 in bonus bets reward for anyone who places a qualifying wager on any available betting market. No FanDuel promo code is required.

• Available via the FanDuel app only.
• Minimum deposit of $5 is required.
• Make an initial wager of $5 or more. FanDuel will credit your account with $200 in bonus bets, win or lose.
• Bonus bets will hit your account within 72 hours of your first wager settling.
• Bonus bets must be used within seven days.

Why this FanDuel bonus is better than others

Although other CO sportsbooks offer similar (or even identical) deals, FanDuel's welcome bonus is still extremely great value. Getting $200 in super-flexible bonus bets in exchange for a $5 risk is a great deal, and your first bet doesn't even have to win (or lose) to collect.

4. Caesars CO welcome offer 🏛

Bet $1, Get Ten 100% Profit Boosts

New users only. Must use promo code. Min. $10 deposit. Max. bonus is ten 100% Profit Boost tokens. Profit Boost tokens expire in 14 days. Void where prohibited. Full terms.    

Claim Boosts

21+ and present in CO. Gambling Problem? Call 1-800-522-4700.

Caesars has started changing their offers more frequently than they used to, but that's not a problem since they have one of the best deals in the industry right now. New users are welcomed with a bet $1, get 10 100% Proft Boost Tokens offer. You must use the Caesars Sportsbook promo code SBRBONUSDYW when registering. Here is how to take advantage of the promo:

1. Create a new account and register with promo code SBRBONUSDYW
2. Make an initial minimum deposit of at least $10
3. Make an initial wager of $1 or more
4. After placing your first wager, you'll receive 10 100% Profit Boost Tokens to use on any market
5. The max wager for each rewarded Profit Boost is $25
6. The max additional winnings for each rewarded Profit Boost is $2,500
7. Profit Boosts will expire after 14 days

Why this Caesars bonus is better than others

Caesars has plenty of options for veteran and novice sports bettors, and it has one of the best loyalty rewards programs in the business. This welcome offer is a no-brainer for new Colorado bettors. 

5. DraftKings CO welcome offer 👑

Bet $5, Win $300 + $1K Deposit Bonus

Terms and conditions apply.

Claim $300

21+ and present in CO. Gambling Problem? Call 1-800-522-4700.

DraftKings’ current welcome bonus is perfect for newbies. No DraftKings promo code is required to get in on the bet $5, win $300 in bonus bets welcome offer. DraftKings also sports some of the top super boosts out of any sportsbook, just in time for major events like March Madness or the World Series.

• You must deposit and place a qualifying wager of $5 or more on any sport
• You'll get the $300 reward instantly if your bet wins
• The bonus funds will come in twelve (12) $25 increments to be used on future wagers
• Bonus funds must be used within seven days

Additionally, DraftKings has a secondary promo available on top of its main welcome offer. You can claim a 20% deposit bonus, up to $1,000, by opting in via the DraftKings promotions page. The downside is the bonus funds come with a hefty playthrough requirement before you can withdraw them as cash. 

Why this DraftKings bonus is better than others

Unlike some other welcome offers, DraftKings’ bonus is a low-risk play. Staking a mere $5 allows new users to give the platform a try and decide if they want to stay long-term. The only downside is that you have to win your initial bet to get the bonus. But if you hit your first bet, you'll be rewarded with more bonus bets than other sportsbooks offer for much bigger risks.

6. BetRivers CO welcome offer ⚡

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 won't need a BetRivers bonus code at any time.

• 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 of -200 or longer.

Why this BetRivers bonus is better than others

The terms on this BetRivers bonus are similar to BetMGM's, except the maximum bonus total is lower. Still, the majority of bettors aren't likely to be making $1,500 bets right out of the gate, which means BetRivers' $250 Second Chance Bet is still perfectly aligned with most bankrolls. 

More sportbook promo codes

If you've already exhausted the promo codes for our top six sportsbooks, or you're just looking for alternatives, there are plenty of other solid options available in Colorado. Below, find four more sportsbooks that have lucrative bonus opportunities:

The bet365 bonus code allows you to claim $150 in bonus bets when you bet $5 OR up to $1,000 in first bet insurance. Either bonus can only be claimed via the bet365 mobile app. 

The ESPN BET promo code gives you a three-part welcome offer: a bet $10, get $100 in bonus bets deal, a 200% first deposit match ($500 max.), and 30 days of ESPN+.

The Bally Bet promo code is another solid option, offering $50 in bonus bets to all new users who make a first bet of $10 or more. 

Tipico is also a good choice, with a straightforward welcome bonus. Use our Tipico promo code to get $200 in bonus bets when you deposit $50.

For more information on these sportsbooks and other promotions, visit our Colorado sports betting apps page.

Colorado sports betting promos summary

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. Here are some areas we concentrate our attention on:

• 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?

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 leading sportsbooks prefer bonus bets 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. In other cases, you can use the entire value of the bonus bets on a single future wager.

For example, if a sportsbook 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 (though it isn't currently running this offer). 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 15 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, 18 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 15 Colorado sports betting apps you can use:

Colorado online and mobile sportsbooks

Colorado sports betting recent updates

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 Council on Problem Gambling hotline: 1-800-522-4700
• Problem Gambling Coalition of Colorado: (303)-662-0772
• Self-exclusion programs

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

Sportsbook promos and bonuses in other regions

Sportsbook promos & bonuses in legal U.S. states

Every state makes its own laws about gambling of any kind, including betting on sports, and whether it's available online. For a more detailed explanation, check out SBR's legal sports betting states tracker or any of the state-specific pages below.