Among Colorado’s six 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 five current competitors, and its selection of betting lines is also limited. But by Autumn 2020, BetMonarch should be fully developed and ready to compete in time for Colorado’s sports betting zenith.
Bearing all that in mind, here’s how BetMonarch compares to the rest of Colorado’s sportsbooks.
What Kind Of Bettor Should Try BetMonarch?
BetMonarch is friendly to casual bettors. Colorado is six for six on sportsbooks for casual bettors. However, BetMonarch has a unique attraction for high-end bettors, too. As bettors wager, they earn BetMonarch reward points. They can be redeemed for free meals, spa days, and free hotel rooms. Avid sports bettors looking for some post-pandemic relaxation should consider earning toward rewards like those while they’re betting on MLB futures.
However, online casinos are still off limits in Colorado. Colorado bettors won’t get access to BetMonarch’s online casino.
BetMonarch: Bonus And Promotional Grade (3/5)
At the time of this writing, BetMonarch does not offer bonuses or promotions. Since they’re using pandemic time as a soft launch, it’s waiting until its app and sportsbook are bug-free before they add additional features.
Instead, they offer Monarch reward points that can be redeemed later. It’ll be worthwhile for Monarch patrons to bet on sports until it’s safe to enter casinos again. If they have Monarch points from the before times, then they could have enough points for lucrative casino rewards when they return.
If it’s like the other five sportsbooks, it’ll likely offer a deposit bonus or a risk-free bet. The most competitive welcome bonus so far is Fox Bet’s $500 risk-free bet and $500 deposit bonus with a 50% match. Not only are there two welcome bonuses available, but 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.
If BetMonarch wants to release a competitive bonus, a combination of welcome bonuses that caters to big spenders and cautious bettors would place it among the most competitive sportsbooks in Colorado.
BetMonarch: Odds Vs The Competition Grade (5/5)
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 Wyverns||NC Dinos|
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)|
On this line, BetMonarch expects to make less profit than the other sportsbooks because:
- It’s odds on the Dinos winning are closer to even than its competitors.
- It’s odds on the Wyverns winning are still somewhat high.
- 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.
BetMonarch: Market Depth And Variety Grade (3/5)
Since BetMonarch is still in its soft launch, its lines and sports are limited. (Sorry, snooker fans.) But its selection of lines is expanding. A few weeks ago, BetMonarch didn’t offer lines on South Korean Baseball like the other sportsbooks did. Now I can cite their lines and compare them against the other five sportsbooks currently in Colorado.
However, it still has to expand its offerings in sports like tennis. At the time of this writing, BetMonarch only offers futures on the winner of the 2020 Men’s and Women’s US Open. There aren’t any table tennis options, prop bets, moneyline, point spread, point total, or set total betting lines yet.
In contrast, its German Bundesliga lines look more complete. BetMonarch offers odds on the point spread, point total, and winner of each upcoming game. It doesn’t have prop bets yet, but bettors should watch for them as BetMonarch adds new lines and features throughout the year.
BetMonarch: Deposit And Cashout Grade (4/5)
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.
BetMonarch: Mobile App Grade (4/5)
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 into 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 five 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.
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 businesspeople 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 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 ecommerce 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 Bet 21 BetMonarch's State of Operations Colorado BetMonarch's Colorado Partner Monarch Casino Blackhawk BetMonarch's Colorado Launch Date May 8, 2020
BetMonarch is the sixth of what will probably be 19 Colorado sportsbooks. It entered the industry when sports betting was just a few weeks old, so bettors may have lingering questions. Here are a few common points of confusion that we can clear up here and now.
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.
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. Since 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 when major American sports leagues return. As BetMonarch’s basic app smooths out, it’ll continue to add sports, leagues, and lines.
BetMonarch’s Soft Launch Overall (3.8/5)
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.