BetMGM Colorado Bonus Code & Sportsbook Review 2022

Up to $1,000
Risk Free Bet - T&C's Apply
4.8
Overall
Bonuses and Promotions
5
Odds VS. The Competition
4.5
Market Depth & Variety
4.5
Deposit & Cash Out
5.0
Mobile App
4.8

Use BetMGM bonus code SHARP to claim your $1,000 risk-free bet.

With a fantastic app, a great rewards program, competitive odds, and solid bonuses, the BetMGM Colorado Sportsbook should be near the top of the sportsbook apps you’re considering.

 

Risk Free Bet Bonus
Banking Options
Strong App

**Some of the products featured here are from our partners who compensate us. This does not influence our evaluations. Our opinions are our own. All bonus and promotions have Terms & Conditions that apply. 21+ for legal online gambling sites. If you think you have a gambling problem, please call 1-800-522-4700.

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BetMGM Colorado Bonus Code 2022

BetMGM is offering new Colorado users a risk-free bet worth up to $1,000 when signing up using the BetMGM Sportsbook Colorado bonus code: SHARP. This only applies to the first bet you place after your initial deposit so choose your first wager wisely! If your first bet results in a loss, BetMGM will give you a free bet credit equal to that amount, up to $1,000.

BetMGM Colorado Bonus Code
SHARP
Risk-Free Bet
Up to $1,000. Requires a minimum $10 deposit.
BetMGM Sportsbook States
AZ, CO, DC, IL, IN, IA, KS, LA, MD, MI, MS, NJ, NV, NY, PA, TN, VA, WV & WY
Last Verified
December 2022
5
Promos

BetMGM has one of the best bonus and promotion programs across the entire sports betting industry. For starters, BetMGM’s new user promo is very straightforward compared to other sportsbooks. Your risk-free first bet is worth up to $1,000. If your first bet results in a win, you’re off to a great start. If your first bet loses, however, BetMGM will give you site credit(s) for another shot.

Here are the key things to know about the Colorado BetMGM risk-free first bet bonus:

  • If your first bet is for $50 or less, you’ll receive that amount as one site credit.
  • For wagers over $50, you will receive free bets in increments equal to 20% of your first bet.
    • For example, if your first bet with BetMGM is worth $100 and loses, you would receive five $20 free bets.
  • Free bets will be credited to your account within 24 hours.
  • You have 7 days to use the free bet credits.
  • If your free bet wins, you will only receive the winnings from the credit and not the total amount.
    • Let’s say your credit is worth $25 and you place a winning bet with odds of +100.
    • Instead of receiving $50 ($25 bet + $25 winnings), you would just receive $25.

Ongoing BetMGM Promos

BetMGM promos aren’t limited to just new users. In fact, BetMGM’s ongoing promo offerings for existing customers are one of the things that set it apart from its competitors. You can expect to find several promotions on various sports throughout the entire year. Other sportsbooks, like DraftKings, tend to only offer promotions surrounding major games and sporting events.
Some examples of current ongoing BetMGM promotions are:

  • BetMGM Rewards
  • Parlay Plus – Place a parlay of 4-7 legs and earn up to 40% more on winning parlays
  • One game parlay insurance – Place a one game parlay with at least 4 legs and if exactly one leg loses, receive a free bet worth up to $25. This offer is available for several sports, including NFL, NBA, NHL, and EPL.
  • Refer A Friend Promotion
4.5
Odds

Does BetMGM Colorado Deal Competitive Odds?

BetMGM deals highly competitive odds on a large selection of sports. BetMGM should definitely be among your go-to sportsbooks for quality odds.

How Do Spreads & Totals Work?

Point spreads add or subtract points from a team’s final score to help level the playing field between two opponents. If the Colorado Avalanche are laying -1.5 goals on the spread (known as the puckline in hockey) against the Tampa Bay Lightning, the Avs need to beat the Bolts by two goals to cover the spread.

Let’s say the total for the game is set at 6. You can bet over or under that number. Under bettors will win if a maximum of five goals are scored in the game. Over bettors need at least seven goals scored to cash their tickets.

Always shop around for the best odds and lines on your bet. If another sportsbook has the total at 5.5, you’d be wise to bet on the over there.

Does BetMGM Have Good Moneyline Odds?

Yes. Moneyline bets are popular because all you need to do is correctly choose the winner of the event. The final score is irrelevant. Just win, baby, as the old saying goes.

Here are moneyline odds for the Week 1 Broncos-Seahawks game.

TeamBetMGMDraftKingsFanDuel
Broncos-250-260-255
Seahawks+200+220+210

BetMGM offers the best odds for the heavily-favored Broncos while DraftKings is where you’d want to place a bet on the Seahawks.

This shows the importance of line shopping across several sportsbooks so you can find the best odds for the best potential payout.

Shopping for the Best Futures Odds

Futures odds can vary more than spread and totals, especially at the beginning of the season. Futures are offered on events like the World Series, Super Bowl, and awards such as league MVP. Here are the futures odds on the Denver Nuggets to win the 2022-2023 NBA Finals as of Oct. 27.

SportsbookNuggets NBA Finals Odds
BetMGM CO+1600
DraftKings CO+1800
FanDuel CO+2000

Between these three sportsbooks, FanDuel has the best price for a Nuggets NBA Championship at +2000. A $100 wager on FanDuel would result in a $400 higher payout compared to BetMGM. This is just one example, however, as BetMGM has better prices than DraftKings and FanDuel for other teams.

Again, this displays why it’s key to check out different sportsbooks when placing wagers.

4.5
Depth

BetMGM offers over two dozen sports to wager on. Bettors can find familiar professional sports like football, baseball, and basketball. However, they can also find obscure sports like snooker, darts, and handball. Each of these sports is further broken down by league. Soccer is always full of international leagues, and baseball is a familiar favorite in many countries, too. 

However, BetMGM often waits to offer lines until days before certain matches. That could put BetMGM at a slight disadvantage. Bettors may not be able to wager as far in advance at BetMGM as other sportsbooks. But for most bettors who pick the next upcoming game to bet on, BetMGM is a fine option. Additionally, BetMGM’s M-Life rewards may make waiting a few days to place their bets worth it.

5.0
Cashout

Like all legitimate sportsbooks, BetMGM is good at accepting and awarding money. The withdrawal options are standard options common to most sportsbooks. All six of them are:

  • Apple Pay
  • Mastercard
  • Visa
  • Discover
  • PayPal
  • Online Banking
  • Bank Wire Transfer
  • Play+ Card
  • Game On
  • M Life Rewards Mastercard
  • BetMGM Gift Card
  • Cash Deposit at:
    • 7-Eleven
    • CVS
    • Family Dollar

The most important deposit option available is the online banking transfer. It’s the most convenient deposit option available. Bettors can transfer a maximum of $2,000 a day to BetMGM without having to worry about some other site like a credit card service provider or PayPal. Although, bettors whose banks block these transactions will find better options in PayPal or Apple Pay.

The withdrawal options are a lot more limited. The four withdrawal options are:

  • E-check
  • Online Banking
  • PayPal
  • Play+ Card

E-checks are probably the most convenient withdrawal option. But anyone with a PayPal account should keep it on hand for withdrawals, too. As with all sportsbooks, BetMGM has more deposit options than withdrawal options. Ensuring the account holder is the one receiving the money is harder than accepting deposits. But it’s all part of the job for a sportsbook that obeys federal anti-money laundering regulations.

4.8
App

One of the best things about BetMGM is its app. The app is straightforward to navigate. The most popular and timely lines are available at the top of the screen, including live and upcoming games.

If you’re a betting fan looking for a game for a quick bet, you don’t have to waste time looking for a popular line. However, if you have a specific sport in mind, the list of available sports from A to Z are at the bottom of the screen. Bettors’ bet slips and past bets are at the bottom of the screen for easy access, too. All the main menus are just super easy to access.

The one knock against the BetMGM app is its speed. If you’re used to using other apps such as DraftKings or FanDuel, then BetMGM might feel just a tad slow. It’s definitely not slow to the point of being unusable or a major hangup point, but when comparing Colorado’s top sportsbook apps, it’s something to note.

Overall, BetMGM has a great app that is suitable for sports bettors of all experience levels.

4.8
Overall

BetMGM is an excellent sports betting operator. Its odds can be the best or worst on any given line, making it a great wild card in Colorado’s sports betting market. The app looks great and works well. BetMGM has many sports and leagues to bet on and an easy parlay builder for ambitious bettors. The app also nails the deposit and withdrawal process.

BetMGM is a jack-of-all-trades sportsbook that bettors should consider trying.

Is BetMGM Colorado Sportsbook Legit?

Yes. BetMGM is a real sportsbook, not some shady operation in a back closet outside of American jurisdiction. There are many reasons to trust that BetMGM is a real business, but here are five straightforward ones.

BetMGM’s Colorado License

A state license binds legal sportsbook operators to certain standards of conduct. It’s a requirement that holds sportsbooks accountable to its bettors by, among other things:

  • Allowing patrons to file complaints with the Colorado Division of Gaming.
  • Requiring sportsbooks to keep cash reserves so they can guarantee bettors their winnings.

However nice offshore sportsbooks may seem, they are not legally bound to serve their international patrons the same way that local sportsbooks are. And if an offshore site doesn’t pay up, there’s nothing bettors can do about it.

Colorado’s Division of Gaming can suspend or revoke a sports betting license if it finds a sportsbook’s conduct improper. It’s a last resort, but it’s a way for any illegitimate sportsbooks to be removed from Colorado’s sports betting space.

BetMGM Must Exclude Certain Patrons

Not everyone can bet at Colorado’s sportsbooks. There’s the obvious age restriction of 21, but there are plenty of other people that sportsbooks cannot take bets from. That includes athletes, coaches, and self-excluded bettors. BetMGM risks its license if it accepts a bet from a prohibited bettor. So, patrons can trust that BetMGM is making an effort to make sports betting fun instead of a vampiric drain on personal finances.

BetMGM’s Required House Rules

The Division of Gaming requires certain house rules to be in place at sportsbooks, including:

  • How odds and winnings are calculated.
  • Which bettors are prohibited from wagering.
  • How customers can file complaints with the sportsbook.

These standardized rules ensure all licensed sportsbooks play by the same fair rules for bettors.

Why Can Bettors Trust Their Money With BetMGM?

Some bettors may get squeamish about uploading their social security or credit card number to a sportsbook. However, licensed sportsbooks have robust security measures, and BetMGM is no exception. In fact, BetMGM praises its SSL certificate in its FAQ section.

SSL is a standard security protocol on the internet. It means that a website encrypts its data from end to end. From the moment you hit ‘enter’, your social security number becomes a coded message instead of plain text. That keeps hackers and unwanted third parties from reading your social security number. The only people that will see that information will be whoever you send that information to.

SSL also ensures the person you think you’re sending your information to really is who they say they are. When a website secures an SSL certificate, it gets a private virtual key. There’s a public key can be distributed across the internet, but there’s only one private key. The little padlock in the web address bar means that website only has a private key that can unlock a user’s data.

Bettor information is as safe as it can be at BetMGM.

BetMGM Fact Table

Required Colorado bettor age21
States where BetMGM is legalAZ, CO, DC, IL, IN, IA, KS, LA, MD, MI, MS, NJ, NV, NY, PA, TN, VA, WV & WY
BetMGM Colorado partnerMidnight Rose Hotel and Casino

BetMGM Colorado Sportsbook FAQ

Do Bettors Have To Be In Colorado To Bet?

Yes. All sports bets must come from and be received in Colorado. Because sports betting is legalized state by state, bettors from neighboring states can’t be allowed to bet from their states. They can drive to Colorado to place a bet, but can’t bet from across state lines.

All online sportsbooks have geolocation technology that determines where bettors are placing bets from. That same technology also blocks bets from unverified or illegal locations.

Can Bettors Sign Up From Anywhere In The State?

Yes. They can even sign up from out of state if they want. However, bettors will only be able to wager in Colorado. The app knows where you are, and it won’t take your money if you’re in the wrong place.

Does BetMGM Offer Esports Betting Lines?

Yes. It’s not listed on BetMGM’s A to Z section, but BetMGM has offered lines on esports. If the game isn’t scheduled in the immediate future, then BetMGM won’t have moneyline or point spread odds on it. So, don’t be surprised if esports doesn’t pop right up on your screen when you go looking for Counter-Strike lines. They’ll come as the next tournament nears.

Is Internet Gambling Legal In Colorado?

No. Online sports betting is legal because of Prop DD’s passage at the end of 2019. Once the state legalized sports betting, online sportsbooks were fair game. However, online casinos are still illegal in Colorado. Online sports betting is the exception to Colorado’s anti-internet gambling law.

What is the BetMGM Sportsbook Colorado promo code?

Use code SHARP to claim a risk-free bet worth up to $1,000.

Does BetMGM Have Live In-Game Betting?

Yes. It has its own tab on the app and website.

How Do Bettors Get Paid If They Win At BetMGM’s Sportsbook?

They go to the cashier tab under their account icon and select ‘withdraw.’ Settled bets are also under their own ‘settled’ tab in the bet slip menu. BetMGM makes it easy to withdraw earnings, which is great. What’s the fun in a sportsbook that won’t pay out?

About the Author

Christopher Gerlacher

Christopher Gerlacher is a freelance writer tucked into the foothills in Colorado Springs. He works as a content writer, a professional resume writer, and authors search engine optimized professional articles in multiple industries.