BetMonarch Colorado Promo Code & Sportsbook Review 2020

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3.8





Overall
Bonuses and Promotions



3.0
Odds VS. The Competition





5.0
Market Depth & Variety



3.0
Deposit & Cash Out




4.0
Mobile App




4.0

Bottom Line

Among Colorado’s new sportsbooks, BetMonarch stands alone as the only fully in-house sportsbook developed by a casino. (BetMGM is a joint venture between MGM Resorts and Roar Digital. Bring it, commenters.)

However, its launch was used as a debugging process. BetMonarch invited users to try the app and give feedback that BetMonarch used to improve its app in real-time. As a result, BetMonarch’s app is glitchier than its current competitors. And its selection of betting lines is also limited. But BetMonarch is well on its way to being fully developed, and a bona fide player in Colorado’s sports betting market.

Competitive Odds
Banking Options
Great Reward Program

See BetMonarch in Action

 

BetMonarch Colorado Promo Code Sportsbook 2020

As we wait for BetMonarch to roll out its sign-up bonus offers with a promo code, players can earn BetMonarch reward points. These points can be redeemed for free meals, spa days, and free hotel rooms at Monarch Casino in Black Hawk. Avid sports bettors looking for some post-pandemic relaxation should consider earning toward rewards like those while they’re betting on MLB or NFL futures.

Get a Bonus on Sign-up at BetRivers (Our favorite CO sportsbook):

If you would like a sign-up bonus for Colorado sports betting, we suggest BetRivers Colorado. You can get 100% up to $250 dollars on your first deposit! Claim your BetRivers $250 Bonus using promo code: 250Match.

3.0





Promos

BetMonarch does not offer bonuses or promotions. Instead, BetMonarch offers Monarch reward points that can be redeemed for free meals, hotel rooms, and spa days. That puts it on par with its other casino-owned competitor, BetMGM. 

However, it’d be more welcoming to new bettors if it offered welcome bonuses like other sportsbook apps. One of the most competitive welcome bonuses in Colorado is FOX Bet’s $500 risk-free bet and $500 deposit bonus. Each bet is also tailored for high and low-risk bettors. The risk-free bet refunds the first bet up to $500, but not all bettors are comfortable betting that much at once. However, the deposit bonus lets bettors deposit funds at their own pace and eventually get the full value of the bonus.

A combination of bonuses that caters to both big spenders and cautious bettors would be competitive in Colorado.

5.0





Odds

BetMonarch makes up for its lack of early bonuses with its competitive odds. Especially its baseball odds. In fact, it’s unseated DraftKings as the sportsbook with the best odds on the favorite to win. Here are the odds on the June 3 SKB Wyvern/Dinos game:

 SK WyvernsNC Dinos
BetMonarch+165-190
BetMGM+165-209
BetRivers+150-195
DraftKings+105-195
FanDuel+174-215
Fox Bet+170-225

BetMonarch also follows another interesting pattern. Here are the expected profit margins on the Wyverns and Dinos line: DraftKings and BetRivers are competitive, but BetMonarch edges them out with better odds on the favorite. It’s common to find negative BetMonarch odds that are closer to even than its competitors.

 Expected Profit (Lower is better)
BetMonarch3.15%
BetMGM5.10%
Bet Rivers5.75%
DraftKings12.95%
FanDuel4.53%
Fox Bet5.90%

On this line, BetMonarch expects to make less profit than the other sportsbooks because:

  1. Its odds on the Dinos winning are closer to even than its competitors.
  2. Its odds on the Wyverns winning are still somewhat high.
  3. BetMonarch can afford to profit less on each line because its cost structure is lower than its competitors.

While there are exceptions to this trend, BetMonarch tends to have competitive odds on the favorite, and it tends to pass profits onto the bettor to make its selection of odds strong.

3.5





Depth

BetMonarch’s sports selection is limited. (Sorry, snooker fans.) But its sports selection cover the most popular American sports. Bettors can reliably find lines on the Broncos, Rockies, and the Nuggets. Colorado’s major teams are represented in BetMonarch’s lines. 

However, its leagues are more selective than other sportsbooks. For example, where Fox Bet may have ten soccer leagues, BetMonarch only has six. Bettors who focus their wagers on popular teams and leagues don’t have to worry about being left out. But bettors from international fanbases may not find what they’re looking for in BetMonarch’s limited selection. 

BetMonarch has room to expand its selection of sports and leagues within them. It’s missing out on critical revenue opportunities from bets on many leagues. Bettors often wager on games that are happening around the time they login to their sportsbooks. If BetMonarch had more betting options, they would probably capture more of those bettors, too. It’s in the best interests of BetMonarch and its bettors that it expand its sports selection.

4.0





Cashout

The only deposit option currently available at BetMonarch is a bank transfer. Credit cards are coming soon, so by the time BetMonarch completes its soft launch, the most important deposit options will be available.

BetMonarch’s withdrawal options are limited, too. The FAQ section assures that bettors will be able to withdraw from their BetMonarch accounts from inside the app. That means that bettors will likely withdraw winnings via eCheck or direct bank transfer. That’s a good move–it’s industry standard in Colorado.

If those are the only two withdrawal options, that will put BetMonarch on par with the rest of the sportsbooks. The anti-money laundering regulations that sportsbooks follow limit the viable withdrawal methods available.

BetMonarch has most of the basics either in place or in progress in this section.

4.0





App

Even though the app is still an early version, it has most of the basic functions down. It’s a clean, bare bones app that lists BetMonarch’s lines on current games. However, BetMonarch also has a full list of sports. Bettors can click through the sports BetMonarch offers and see which leagues have lines available.

The nice thing about BetMonarch’s lines is how open the betting line displays are. While other sportsbooks clutter information into the betting lines, BetMonarch’s display is easy on the eyes. Hopefully, the full version retains its clean, uncluttered look.

Betting is easy, too. You have to be logged in to an account to even click on a set of odds, but the bet slip is accessible at the bottom of the screen. From there, bettors can access their open and settled bets. It’s all seamless.

The basics are strong, but there’s one registration requirement that doesn’t seem right. The other Colorado sportsbooks only require the last four digits of bettors’ social security numbers. BetMonarch requires the full nine-digit social security number. It’s odd that BetMonarch needs the full number when the rest of Colorado’s sportsbooks only need half of it. Hopefully, this is a beta launch feature that will be changed when the full launch arrives.

3.8





Overall

Even though BetMonarch has launched the most basic version of its app for early feedback, its beta app is competitive. Its odds are ready for prime time, with odds that are especially favorable on baseball games. However, when it’s ready to add all the bells and whistles, it will need:

  • A competitive welcome bonus–ideally a deposit bonus combined with a free bet.
  • Additional betting lines on new sports and leagues.
  • Credit card deposit functionality–although that’s confirmed to be on the way.
  • A little more app debugging.

If this is how well BetMonarch stands up with an early release, it’ll be exciting to see how its fully completed app does. Bettors should keep an eye on BetMonarch’s developments over its remaining months of development. BetMonarch has a bright future in the Rocky Mountain State, and bettors can capitalize on it early.

Is BetMonarch A Legitimate Sportsbook?

Yes. As a licensed Colorado sportsbook, BetMonarch has been vetted by Colorado’s Division of Gaming. Not only is BetMonarch a fair and honest sportsbook, but it’s also required to create house rules for standard customer service situations. Here are five more reasons that bettors can trust BetMonarch’s business integrity.

BetMonarch’s Bets Are Standardized

Rule One of the Division of Gaming’s defines certain bets and sportsbook bonuses. That way, licensed sportsbooks can’t confuse bettors by changing what a free bet or a prop bet is. It’s how Colorado legislators protect sports bettors who may be trying sports betting for the first time.

BetMonarch’s Inspection Requirements

BetMonarch can be investigated by state authorities at any time and for any reason. State investigators can inspect the Monarch Casino’s sports betting hardware and request information about the sports betting app. By licensing with Colorado, BetMonarch made itself more transparent to regulators, which creates better protection for bettors.

BetMonarch Must Pay Deceased Bettors

It’s a morbid thought, but it’s an important business requirement. If a bettor dies, the money in the account must go to the deceased bettor’s estate. That way, the winnings and leftover funds are awarded fairly.

BetMonarch’s Waiver Of Privilege

Colorado’s sports betting licensing agreement requires aspiring sports betting operators to relinquish certain legal privileges during the application phase. Technically, a sports betting operator can claim legal privilege to keep certain information about itself private. However, that hidden information could prevent that licensee from being licensed. If a sportsbook isn’t forthcoming enough, then it can decide not to award it a license. There’s nothing sportsbooks can hide in Colorado’s licensing process.

BetMonarch’s Owners Were Background Checked

One of the first steps in obtaining a sports betting license is weeding out people who automatically disqualify for a gaming license. Whoever applied for BetMonarch’s license also had to be fingerprinted for their background check. Extensive measures like these ensure that the people running sportsbooks are upstanding business people without a troubling gaming history.

Why Should Bettors Choose BetMonarch Over Some Illegal Betting Site?

The FBI says not to. The odds at illegal sportsbooks may appear more attractive but putting money into an illegal gambling operation is dangerous.

For example, the money that goes into illegal gambling operations often funds crimes like human trafficking, drug trafficking, and money laundering. Your local bookie may seem nice, but the money he makes may fund horrible things you would never dream of funding.

Some of the organizations that run illegal sportsbooks also fix games to tilt the odds in their favor. They turn fair wagers into extortion rackets that undermine the integrity of sports. The Arizona State point-shaving scandal is probably the most famous match-fixing case. However, there are other lesser-known cases across the globe, and they are lucrative for the masterminds behind them. In fact, some estimates put the revenue generated by match-fixing at $15 billion per year.

There’s also the threat of violence from bookmakers who want their money back. (I don’t have to elaborate on that, do I?)

However, if bettors aren’t wagering at crime syndicates’ sportsbooks, bettors are still taking risks when they bet at offshore websites. Licensed Colorado sportsbooks must meet minimum security requirements to protect bettor information. Offshore websites may have some security, but it may not be good enough to protect bettor information. However, the worst-case scenario is betting at what appears to be an online sportsbook but is really a scheme to steal money and personal information.

Bettors are safer when they wager at licensed sportsbooks that have not only been vetted by state authorities, but that also have a track record of upstanding business practices. Nothing’s more telling than a transparent work history, and it’s confirmed with a state license.

What Does BetMonarch Do To Protect Bettors’ Money?

BetMonarch does a fine job of protecting its customers. But customers also care about their money and personal information. How does BetMonarch handle the wild west that of cyberspace?

It has basic security measures in place like firewalls that protect its network. Firewalls filter the data that moves through them. If the firewall deems the data secure, then it may pass through. If data or a user doesn’t meet the firewall’s security requirements, then it doesn’t get through. This keeps hackers from getting into BetMonarch’s network and stealing information.

However, BetMonarch goes farther than a basic firewall. Its servers are also secured with an SSL certificate. It’s the same technology that keeps e-commerce sites safe. SSL certificates encrypt data from the moment you hit ‘enter’ to the moment it reaches BetMonarch’s servers. That way, any hacker who makes it past the firewalls can’t read any of the data bettors have entered.

Remember, these security measures are also inspected by the State of Colorado to ensure that bettors’ sensitive information is safe. It’s technical, but it’s important for bettors to know their information is secure.

BetMonarch Quick Fact Sheet

Legal Age to Bet21
BetMonarch's State of OperationsColorado
BetMonarch's Colorado PartnerMonarch Casino Blackhawk
BetMonarch's Colorado Launch DateMay 8, 2020

BetMonarch Sportsbook FAQ

Is BetMonarch Only In Colorado?

Yes. The BetMonarch app is debuting in Colorado, so no other state has it. However, Monarch owns the Atlantis hotel in Reno, Nevada, and that hotel has a retail sportsbook. It also has an Atlantis Race and Sports app that includes sports betting, but Coloradans won’t have access to it. BetMonarch is the first app under the Monarch brand, and Coloradans have it all to themselves.

For now.

Do Bettors Have To Use BetMonarch In Colorado?

Yes. All Colorado sportsbooks are required to have a geofence set by the Division of Gaming. That limits Colorado sportsbooks to Colorado bettors, and avoids infringing on neighboring states’ sports betting regulations. Kansas doesn’t get BetMonarch access just because it’s next door.

How Do Bettors Get Paid By BetMonarch?

Probably via eCheck or bank transfer. Somewhere in the app, BetMonarch will give bettors the option to withdraw their winnings. It must give bettors a way to withdraw their winnings from the app. BetMonarch wouldn’t have received a license without that functionality.

Does BetMonarch Have Live In-Play Betting Available Yet?

Not yet. BetMonarch is still ironing out the basics before it adds new features. Because every other Colorado sportsbook so far offers it, it’s safe to say the full version of BetMonarch will too.

Does BetMonarch Have Esports Lines?

Not yet. However, since most of the Colorado sportsbooks do, it’d be odd if BetMonarch missed out on the esports market. It’s something bettors can watch for over the next few months of BetMonarch development.

Is BetMonarch Legal In Colorado?

Yes. Its soft launch version is available for bettors to sign up. However, a fuller version is coming later this year as major American sports leagues return. As BetMonarch’s basic app smooths out, it’ll continue to add sports, leagues, and lines.

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.