Colorado Sports Betting Promos and Bonuses: Up to $7,400 in Bonuses Oct. 2024

All Colorado sportsbook promo codes and bonuses

Colorado’s appetite for legal online sports betting is evident in that 15 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 15, only four require bettors to enter a promo code at the time of the first deposit: bet365, BetMGM, BetRivers, and Caesars.

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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. FanDuel CO welcome offer 🔵

The best online sportsbook in Colorado has a welcome bonus for new players. FanDuel offers a bet $5, win $300 in bonus bets reward for anyone who places 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 $5 is required.
• Make an initial wager of $5 or more. If it wins, FanDuel will credit your account with $300 in bonus bets.
• 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 $300 in super-flexible bonus bets in exchange for a $5 risk is easily one of the best deals I've ever come across, even though your best must win in order to collect. 

2. DraftKings CO welcome offer 👑

DraftKings’ current welcome bonus is perfect for newbies. No DraftKings promo code is required to get in on the bet $5, get $200 in bonus bets welcome offer. DraftKings also sports some of the top super boosts out of any sportsbook, just in time for the major events like the the NFL season or World Series.

• You must deposit and place a qualifying wager of $5 or more on any sport
• You'll get the $200 reward instantly
• The bonus funds will come in eight (8) $25 increments to be used on future wagers
• Bonus funds must be used within seven days

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. And, whether or not they happen to win, they'll get $200 in bonus bets to further wager with the sportsbook.

3. BetMGM CO welcome offer 🦁

BetMGM continues to offer new players a four-figure first bet offer as its preferred welcome offer. The “King of Parlays” will stake your first bet up to $1,500 should it lose. Use the BetMGM bonus code SBRBONUS at the time of the first deposit.

• Minimum deposit of $10.
• Your first bet must lose to earn welcome bonus funds.
• If your first bet wins, no bonus monies are received.
• The $1,500 will be credited within 24 hours of your first bet settling
• Bonus credits are divided into five equal bonus bets. So, a $1,500 first bet loss would be converted into five (5) $300 bonus bets.
• If first bet was less than $49, bonus bets will be issued as a single credit.
• You must use the bonus within seven days.

Why this BetMGM bonus is better than others

I hardly ever see a welcome bonus valued as high as $1,500, which gives BetMGM the edge in terms of total dollar value. If you want to make a significant initial wager in Colorado, I would definitely recommend using BetMGM's first bet offer. 

4. Caesars CO welcome offer 🏛

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.

Why this Caesars bonus is better than others

Even though this first-bet insurance is less than BetMGM's offer, it's still more than BetRivers. I also like that Caesars throws in one of the best loyalty rewards programs in the business, making this welcome offer a no-brainer for new Colorado bettors. 

5. Fanatics CO welcome offer 🧢

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 will receive bonus matches on wagers up to $1,000, and no Fanatics Sportsbook promo code is required.

• Minimum $5 wager requirement.
• Receive your bonus match payout whether your wagers win or lose.
• Score up to $100 in bonuses in the first ten days following account creation, totaling $1,000 in bonus credits.
• No opt-in is required on day one, but you must opt-in before wagering on each of the following days.
• Missing a day loses your bonus opportunity for the day.
• Bonuses expire after seven days.

Why this Fanatics bonus is better than others

Few sportsbooks offer welcome bonuses reaching $1,000, and Fanatics checks that box. While the process to claim the maximum bonus amount is a bit tedious, there are also benefits to spreading your bonus match wagers out over a ten-day span.

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

We've covered our top six CO sportsbook promos in-depth, but there are a few others still worth your time. Check out any of these options for further bonus opportunities:

The bet365 bonus code unlocks additional rewards with your initial deposit and is an excellent choice with great bonuses all year.

The ESPN BET promo code works a little differently, with up to $1,500 in bonuses available to new users.

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.

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 summary

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. 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  (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  and options available:

• hotline: 1-800-522-4700
• : (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.