Betway Colorado Bonus Code & Sportsbook Review 2022

Up to $500
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Bonuses and Promotions
Odds VS. The Competition
Market Depth & Variety
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Bottom Line

2022 is shaping up to be a strong year of growth after Colorado’s successful previous year. Betway’s Colorado launch was part of its expansion alongside sports betting across the United States. Although it has been active for several months at this point, many Colorado sports betting fans haven’t yet given this platform a try.

Today, let’s break down Betway Sportsbook piece by piece and explore everything it has to offer, compare it against its rival sportsbook platforms, and examine whether you might want to give it a try the next time you’re looking for some fresh sports betting action.

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Betway Colorado Bonus Code 2022

The Betway Colorado promo offers a straightforward and easy-to-access risk-free bet worth up to MarchMagic of site credit.

Terms & conditions apply.

Risk-Free Bet$500 risk-free bet
What States Allow BetwayCO, IA, IN, NJ, & PA
Betway’s Land-Based PartnerFamous Bonanza Casino
Promo Code Verified ForNovember 2022

Betway’s new user promo of a risk-free bet worth up to $500 is pretty easy to access and enjoy. Just make an account with Betway, then make an initial wager after depositing some cash. If you are successful, unfortunately, you don’t get anything.

But if your first bet results in a loss, you’ll be reimbursed with site credit for up to $500. So you can place a bet up to this amount and get it completely refunded if it is a loss. This is a pretty standard opening bonus that isn’t that outstanding compared to some of the other options available for Colorado residents, like DraftKings (which offers an opening bonus of much greater potential value).

That said, there is something to be said about this bonus’s simplicity. Almost every new account holder will be able to take advantage of it. Keep in mind that to qualify for the risk-free bet, you have to use the credit within seven days of receiving it. You also can’t withdraw the free credit as cash until you have played through it at least once (another common requirement for opening bonuses).

Ongoing Betway Promos

Of course, Betway doesn’t just offer an opening bonus in terms of promotions. In addition to the new account offer, Betway has a wide range of promotions on a dedicated promotions page, which you can find at the top of the mobile app. Most of these promotions are related to currently running sports leagues or events.

One of the regular promotions offered throughout the year are “Betway Boosts”. These are select games and lines that have boosted odds to increase your potential profits.


Betway is one of Colorado’s many sportsbooks. Its odds are constantly competitive, even compared to other major sportsbook brands. While no sportsbook has the best odds on every line, Betway’s odds stack up against competitors. Here’s why Betway should be on every Colorado bettor’s radar.

Betway Odds for Point Spreads and Over/Unders

Point spreads are bets on how much a team will win or lose by. Over/unders are wagers on whether two teams will score more or fewer points than the threshold set by sportsbooks. They give bettors a way to bet on teams that have poor chances of winning.

The standard odds on these bets are -110 on both sides. But since the odds change constantly, bettors have plenty of chances to odds shop. 

Bettors who bet the over or the underdog want higher spreads. +5.5 would be better for those bettors than +4.5. Bettors who bet the under or the favorite want smaller spreads. -5.5 is better for those bettors than -4.5. After finding the best spreads, bettors have to find the best odds. Here’s that analysis in action: 

 BetwayCirca Sportsbook
New England Patriots+2.5 +100+2.5 -103
Miami Dolphins-2.5 -120-2.5 -117

On this line, both sportsbooks have the same spread. But Betway has better odds on the Raiders, and Circa Sportsbook has better odds on the Dolphins. These are small differences, but they matter over time. 

Finding The Best Betway Moneyline Odds

Moneylines are bets on who will win a game. It doesn’t matter how much the winner wins by. So, all odds shoppers have to do is find the best odds. 

Moneylines are especially popular ways to bet on baseball, so sportsbooks always have baseball moneylines available. Here’s an example:

Chicago White Sox+110+114
San Francisco Giants-130-134

On this set of odds, Betway has better odds on the Giants, and FanDuel has better odds on the White Sox. So, bettors would bet at different books depending on which team they wanted to put money on. 

Betway Futures Odds

Futures bets are bets on culminating season events. They’re milestones like the championship, award, and division winners. One way to measure a sportsbook’s competitiveness overall is by finding its futures bets’ theoretical holds. Theoretical hold is the profit sportsbooks expect to make from a selection of wagers. High theoretical holds translate to higher odds overall, and low theoretical holds translate to higher odds overall.

But theoretical hold can mislead bettors who get easily distracted. A high-hold book can still offer the best odds on the line bettors are interested in putting money on. Here’s an example:

NFL Futures Theoretical Hold18.22%17.52%
Baltimore Ravens Odds+2200+1800

Betway’s NFL futures have a similar theoretical hold as Unibet. So, the futures odds are similar overall. However, Betway has better odds on the Ravens than Unibet. It’s a 400-point difference, showing how critical to potential profitability odds shopping is. 


A great sports betting app will allow you to place bets on any sport you can imagine, and Betway does a good job in this regard. Naturally, you’ll be able to place bets on major American sports like football, baseball, hockey, basketball, and more.

But you’ll also be able to place bets on more niche sporting events like volleyball, tennis, darts, auto racing, horse racing, boxing, and soccer. International bets are also on the table, whether you like to place bets on European soccer leagues, Australian rules football, or rugby.

Interested in college betting? In that case, Betway has you covered, as it offers reasonably deep and extensive betting markets for college football and basketball. As you can see, Betway offers some of the best market depth and variety in the mobile sports betting industry for Colorado.

It’s only barely beaten by DraftKings, which offers eSports betting markets as one of its distinctive features. Still, most fans should find all the sports markets they’re really passionate about on Betway.


For both deposits and withdrawals, Betway requires a minimum transaction amount of $10, which is a pretty common minimum amount throughout this industry. In terms of potential deposits, you have tons of methods, including:

  • ACH or e-check transfers
  • Bank transfers
  • Transfers with PayNearMe terminals
  • Prepaid card transfers
  • Electronic wallet transfers using platforms like PayPal or Skrill
  • Neteller transfers
  • Visa, MasterCard, or Discover credit or debit card transactions
  • Lastly, you can make a physical deposit at the Famous Bonanza Casino cash cage – this casino is the official land-based partner for Betway sportsbook in Colorado

That’s plenty of ways to fund your account, so Betway scores highly in this regard. Withdrawals are a little more limited, though not restrictively so. In total, you can withdraw using the following methods:

  • Cash cage transfers at the above-mentioned casino
  • PayPal, Skrill, or Neteller transfers
  • Regular checks 
  • Wire or bank transfers
  • ACH or e-check transfers

As you can see, Betway makes it easier for you to deposit funds than to withdraw your winnings, but that’s a common practice throughout this industry. Most electronic withdrawals take about 24 hours to process, and keep in mind that check requests will take up to three weeks before you receive your winnings.

All in all, Betway does a pretty good job of keeping your deposit and withdrawal options open. No matter your preferred methods, you should be able to both pay for new sports bets and withdraw your winnings after a lucky betting streak without too much difficulty.


Naturally, you’ll want to know whether Betway’s mobile platform is good compared to the other high-quality sports betting apps in Colorado.

Fortunately, the mobile app’s user interface is very sophisticated, modern, and easy to navigate. For example, every individual betting product has a specific color, so it’s easy to know where you are on the mobile app and where to find the betting line you have in mind.

We also like that you can change how your odds are displayed (i.e. in the American or European format), use a dedicated search bar to find specific betting lines, and access in-play betting opportunities through a separate portal. “LIVE” sports are clearly marked so you can jump into the action at any point. If you want to watch a sports game while you put money down, good news: Betway offers a live streaming function so you can view the game on your mobile device screen.

The Betway sportsbook even comes with an upcoming sporting events section, so you can plan out your betting throughout the week. The interface overall is remarkably uncluttered, and it’s essentially the same between iOS and Android devices.

We’d also be remiss not to talk about Betway’s loyalty program. The loyalty program provides extra perks and bonuses the more you use the app. Called “Betway Plus”, the loyalty program comes with several tiers. The higher you go, the more rewards and benefits you receive. Available benefits include birthday gifts, vacation packages, faster withdrawal times, and even a dedicated account manager.

In this way, the mobile sportsbook is even better if you use it as your primary betting platform.

Overall, Betway’s mobile sports betting app is a quality application and a great place to play, whether you are new to sports betting or a more experienced sports wagering fan.


Ultimately, the Betway sportsbook in Colorado is a great addition to the overall market, despite its European origins. While the odds could be a little more competitive for our liking, the extensive betting markets and reasonably good opening bonus mark this as a great choice for new sports bettors in Colorado, as well as long-time sports betting fans looking for something fresh.

The extra promotions that Betway provides will definitely keep things interesting in the long term, and the opportunity to place bets on live games and watch those matches at the same time make this platform a modern and fun choice for experienced sports bettors. If you’re looking for a new sports betting platform for short-term play or a more permanent sports betting HQ, Betway could be the answer for you.

Is Betway Legit?


In fact, Betway was initially launched in Malta in 2006, and it quickly spread around the globe as one of the most successful online gaming providers in the industry. Since that time, it has already launched in states like New Jersey, Indiana, Iowa, Pennsylvania, and Colorado. It also has plans to spread further throughout the US in the near future.

Simply put, this spread of successful launches does a lot to solidify Betway’s legitimacy. Other state regulatory bodies have already verified this company and found its security and history satisfactory. Since it operates internationally, that’s also a sign that is legitimate and overall trustworthy.

Why Choose Betway Sportsbook Over Illegal Betting Sites?

Since legal sports betting is currently up and running in Colorado, there’s no reason to ever try an illegal betting site. But even if that weren’t the case, illegal betting sites would still be a bad idea because:

  • They never use good digital security, which means your personal information and your deposited funds would both be at risk from cybercriminals or the sportsbook operators themselves
  • Such sportsbooks don’t usually have great betting odds and markets. Even if they didn’t steal your money or information, you wouldn’t find great betting action on an illegal betting site like you can find at Betway

In contrast, Betway is a fully licensed and legitimate sports betting company in the US and beyond. They offer excellent betting odds, diverse betting markets, and secure ways to deposit your funds that won’t result in a high risk of theft.

Why Can You Trust Betway With Your Money?

Betway sportsbook is a fully licensed and legitimate sports betting platform through and through. More importantly, they use SSL certification and other online security methods to keep your funds and personal information safe, minimizing the risk of identity theft.

SSL certification, for example, encrypts traffic both to and from the mobile app and your device. Betway is required to maintain a certain standard of security in order to keep its licensure in Colorado; it’s the same in other states where it is currently active as well.

Because of this, Betway is sure to keep its digital security airtight and operational without cutting costs. It doesn’t want to give up its foothold in the US sports betting market.

Additionally, Betway makes it easy for you to contact customer support if you have a question about your account. For example, there’s a 24/7 support desk available with live chat, telephone, and email support channels available.

In this way, you can get a hold of someone to ask about your account anytime you need. The FAQ section is also nice if you have a quick question or a technical issue and need help fast.

Betway Fact Sheet

How old do you have to be?21
What states is Betway available in?CO, IA, IN, NJ, & PA
Betway’s partner in ColoradoFamous Bonanza Casino

Betway Colorado Sportsbook FAQ

Is it legal to bet on sports online with Betway sportsbook in Colorado?

Yes, it is fully licensed and available to enjoy in Colorado at this time. It launched in April 2021.

How old do you have to be to bet online with Betway in Colorado?

21 or older, which is the minimum age for sports betting across platforms in this state.

Is in-play betting available at Betway sportsbook in Colorado?

Yes, Betway offers in-play betting and live streaming so you can watch your game and place bets on the action from the same mobile device.

Do you need to be in Colorado when you place a sports wager with Betway Sportsbook?

Yes, Betway in Colorado uses geolocation software to prevent you from placing a wager outside Colorado state lines.

Does Betway offer any free bets or deposit bonuses?

Yes, Betway offers a $500 risk-free bet. If your first wager goes south, you’ll be refunded up to this amount but have to spend the credit within seven days of receiving it.

Can you sign up for Betway Sportsbook from anywhere in Colorado?

Yes. Betway is partnered with a local casino, but you can register entirely remotely without having to visit the casino physically to complete the process.

About the Author

Amber Hoffman

Amber is the Managing Editor of Colorado Sharp. She writes for a variety of websites in diverse industries, including gaming and travel and is a fan of international football (not "soccer") and Gaelic sports.