Colorado Online Sports Betting Bonuses December 2022

With more than two dozen mobile sportsbooks available in Colorado, the state features some of the country’s most diverse online sports betting bonuses. 

Most Colorado online sportsbooks offer sign-up bonuses, such as free bets and deposit bonuses that attract players to their sites. Each has its own set of terms and conditions.

2022 seems to be the year that Colorado’s sports betting market is reaching maturity. Growth is slowing and welcome bonuses are changing less often. We’ll cover these bonuses below so bettors can find the best deals for their risk tolerances and levels of activity.

**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.

Best Online Sports Betting Bonuses In Colorado

While most Colorado sportsbooks offer bonuses, some are notable for new bettors. Here are the best Colorado online sports betting bonus offers for December 2022: 

Best Promo Offers at Colorado Sportsbook Apps

Best for $50 free bet

$50 free bet with $5 deposit + 20% deposit match up to $1,000 (5x playthrough)

Available On: Web Browser, iOS, Android

States Allowed: AZ, CO, CT, IL, IN, IA, KS, LA, MD, MI, NH, NJ, NY, PA, TN, VA, WV & WY

Best for $50 free bet

DraftKings Colorado

Deposit $5 for

$50

Free Bet

20% Deposit Match Worth Up To

$1,000

Claim Now

Retail Partner

Golden Gates &

Mardi Gras

Licensed By

Gaming Division

Colorado Department of Revenue

DraftKings was best known as a legal daily fantasy sports site. It’s been a licensed daily fantasy site in Colorado since 2016. However, Coloradans gained access to DraftKings’ sportsbook when sports betting went live in the state.

New members at DraftKings Sportsbook can now receive a $50 free bet for simply making a deposit of $5 or more. This exclusive deal is available to all those joining DraftKings Sportsbook for the first time.

New DraftKings sportsbook players can also get a 20% deposit match worth up to $1,000. In order to be eligible for the maximum bonus amount, Colorado bettors would have to deposit $5,000 to receive $1,050 in bonus funds.

In order to receive the full deposit bonus, DraftKings has a 5x playthrough requirement which is higher than other sportsbooks. Bettors have 90 days to meet the playthrough requirement to maximize this bonus. They’re rewarded in proportion to how much they deposit and wager. So, bettors should wager and deposit at sustainable rates.   

Bettors can use Colorado Sharp’s DraftKings Colorado promo link to claim these offers. 

Additional terms and conditions apply.

  • Great mobile app
  • Excellent market depth & variety
  • Good promo offer

Best for Rewards Program

Up to $1,250 on Caesars

Available On: Web Browser, iOS, Android

States Allowed: AZ, CO, IN, IA, IL, KS, LA, MD, MI, NJ, NY, PA, TN, VA & WV

Best for Rewards Program

Caesars Colorado

Your first bet is on Caesars up to

$1,250

code: SHARPBETFULL

Retail Partner

Horseshoe Black Hawk

Licensed By

Gaming Division

Colorado Department of Revenue

Caesars Sportsbook is a major rebrand resulting from Caesars Entertainment’s acquisition of William Hill. Bettors can wager up to $1,250 on their first bet and get their money back (in the form of a free bet credit) if it loses. However, the free bet credit must be used within 14 days from the date it’s awarded.

New users will also receive 1000 Tier Credits and 1000 Reward Credits®, win or lose!

Bettors can use our Caesars Colorado Sportsbook promo code SHARPBETFULL to cash in on this welcome bonus.   

  • Convenient banking options
  • First bet covered by Caesars
  • Caesars Rewards program

Best for Rewards Program

$1,000 Risk Free Bet

Available On: Web Browser, iOS, Android

States Allowed: AZ, CO, DC, IL, IN, IA, KS, LA, MD, MI, MS, NJ, NV, NY, PA, TN, VA, WV & WY

Best for Rewards Program

BetMGM Colorado

Risk-Free Bet

$1,000

Code: SHARP

Retail Partner

Midnight Rose Hotel & Casino

In Cripple Creek

Licensed By

Gaming Division

Colorado Department of Revenue

MGM is a well-known name in gaming, but its mobile sportsbook is relatively young compared to some of its competitors. However, it has quickly become one of the most-used mobile sports betting apps in the country, including in Colorado.

BetMGM offers a risk-free bet of up to $1,000 using BetMGM CO bonus code SHARP. So, if bettors lose their first bet, they get their wager back in the form of site credits. 

 

  • Risk-free bet bonus offer
  • Good mobile app
  • Deposit options

Best for ongoing promotions

2nd chance free bet up to $500

Available On: Web Browser, iOS, Android

States Allowed: AZ, CO, IL, IN, IA, LA, MD, MI, NJ, NY, PA, VA & WV

Best for ongoing promotions

BetRivers Colorado

2nd chance free bet up to

$500

Code: SHARPRIV

Retail Partner

McGill's

in Cripple Creek

Licensed By

Gaming Division

Colorado Department of Revenue

Colorado became the fourth state BetRivers launched in after Pennsylvania, Indiana, and Illinois. BetRivers is owned by Rush Street Interactive, the same company that operates SugarHouse Online. In fact, BetRivers operates in New Jersey and Connecticut under the SugarHouse name.

BetRivers has a number of loyalty perks and rewards for Colorado sports bettors. It offers a 2nd chance free bet worth up to $500 using bonus code SHARPRIV. If your first wager with BetRivers settles as a loss, the sportsbook will match 100% of your wager up to $500.

BetRivers also has a loyalty program for bettors who consistently wager large amounts of money. Perks include new bonuses, BetRivers swag, and expedited withdrawals. Bettors shouldn’t bankrupt themselves for these perks though. Bettors should play at sustainable rates for their financial circumstances.

  • Excellent deposit and cashout options
  • Fantastic ongoing promotions for existing users
  • Unique parlay bets

Best for $250 in free bets

$250 in free bets

Available On: Web Browser, iOS, Android

States Allowed: AZ, CO, IA & PA

Best for $250 in free bets

Betfred Colorado

Bet and Get

Bet $50 to get $250 in free bets

Code: SHARPBET

Retail Partner

Denver Broncos

Licensed By

Gaming Division

Colorado Department of Revenue

Betfred is a European operator that partnered with Saratoga to launch its online sportsbook in Colorado. Betfred is an official partner of the Denver Broncos making them a great sportsbook for loyal Broncos fans. Currently, all new bettors can claim $250 in free bets after placing their first bet of $50 or more. You’ll receive $100 in free bets immediately, with three $50 free bets released over the next few weeks.

Use Betfred Colorado promo code SHARPBET  to claim your $250 in free bets.

  • Simple, clean app
  • Several years in the industry
  • Several odds boosts available daily

Best for a $1,000 no sweat first bet

$1,000 No Sweat First Bet On FanDuel's Website

Available On: Web Browser, iOS, Android

States Allowed: AZ, CO, CT, IL, IN, IA, KS, LA, MD, MI, NJ, NY, PA, TN, VA, WV & WY

Best for a $1,000 no sweat first bet

FanDuel Colorado

No Sweat First Bet

$1,000

On First Bet

Retail Partner

Golden Gates Casino

in Black Hawk

Licensed By

Gaming Division

Colorado Department of Revenue

FanDuel is another licensed daily fantasy sports company that entered Colorado’s legal sports betting industry

FanDuel currently offers a $1,000 no sweat first bet for new bettors. Although it’s not quite as large as Caesars Sportsbook’s welcome bonus, it’s still a generous amount of money for most bettors. Bettors can wager up to $1,000, lose their first bet, then get their lost stakes back in the form of site credit.

Interested bettors can use Colorado Sharp’s FanDuel affiliate link to get this welcome bonus. 

  • Popular betting lines
  • Good deposit options

Best for market depth and international events

$200 in Free Bets

Available On: Web Browser, iOS, Android

States Available: NJ & CO

Best for market depth and international events

Bet365

Free Bet Credits

$200

Bet $1 and Get $200

Retail Partner

Century Casinos

Licensed By

Gaming Division

Colorado Department of Revenue

With 45 million users worldwide, Bet365 is bringing its UK-founded sports apps across the pond to the states.

While the value of the Bet365 welcome offer isn’t as high as other Colorado sportsbooks, it’s a very easy bonus to claim. After depositing at least $10, simply make a $1 wager and you’ll receive $200 in free bet credits.

New users can claim this offer by using our Bet365 promo link.

  • Fantastic market depth especially for international sports
  • Extensive deposit and withdrawal options

Best for fans of SI magazine

$200 in free bets with code SI200

Available On: Web Browser, iOS, Android

States Available: CO, MI & VA

Best for fans of SI magazine

Sports Illustrated (SI) Sportsbook

Free Bets

$200

Bet $20 and Get $200

Retail Partner

Colorado Grande Casino

in Cripple Creek

Licensed By

Gaming Division

Colorado Department of Revenue

SI Sportsbook is a duel venture between the famous magazine and 888, a renowned sports betting technology company. As a result of these two respected companies coming together, the Sports Illustrated Sportsbook Colorado is a solid app that provides everything a bettor would want.

SI’s welcome offer requires new users to place and win a bet of at least $20. If your wager is successful, you’ll receive a total of $200 in free bets, paid out as eight $25 credits.

New users can claim this welcome offer by using the Sports Illustrated Colorado Sportsbook promo code SI200.

  • “Bet Feed” identifies games garnering the largest handle
  • Connects to SI.com for news and insights

Other Sportsbook Apps Available In Colorado

PointsBet

Claim PointsBet Bonus: Receive two risk-free bets totaling $2,000 using bonus code BESTOFFER.

PointsBet has a unique spin on the risk-free bet. Bettors get two risk-free bets with bonus code BESTOFFER: a $500 fixed-odds bet and a $1,500 pointsbetting bet.

A fixed-odds bet is a traditional sports bet, just like you would find at other online sportsbooks in Colorado.

However, PointsBetting allows bettors to make precise predictions about point spreads and point totals. The reward multiplies depending on how accurate the bettors are. However, bettors are penalized exponentially, too.

FOX Bet Colorado

Claim FOX Bet Bonus: Receive a $50 risk-free bet. 

FOX Bet offers new players a $50 risk-free bet on their first wager. However, it’s only good for your first wager, so make sure you don’t miss it. Bettors must place a bet on a line with odds of -200 or more to qualify. If they lose, then they’ll get site credits equal to their stakes up to $50. If bettors win, then they can enjoy their winnings. 

BetMonarch

Bonus: None available

BetMonarch is the first homegrown sportsbook to launch in Colorado. As the name suggests, BetMonarch is attached to the Monarch Casino in Black Hawk. Bettors can also place bets at the retail sportsbook at Monarch Casino.

SBK

Claim SBK Bonus: Receive a $20 risk-free bet.

SBK is an online sportsbook operated by Smarkets, a European sports betting company based in the UK. SBK launched on June 4, 2022, and gets its odds from its betting exchange overseas. That means that SBK’s odds are particularly competitive. But Colorado sportsbooks that offer bonuses or boosts can have better odds on certain lines than SBK. 

Sky Ute Sportsbook

Bonus: None Available

Sky Ute Sportsbook is an online sportsbook from the Southern Ute Indian Tribe. Sky Ute Sportsbook launched on June 9, 2022, and is currently not offering a sign-up or deposit bonus.

Circa Sports

Bonus: None available

Circa Sports is an online sportsbook that started in Las Vegas at the D and Golden Gate. Colorado is its first online sportsbook outside of Nevada and promises to have high limits and great odds. However, it offers no welcome bonus. 

BetWildwood

Claim BetWildwood Bonus: Receive a 100% deposit bonus of up to $200.

BetWildwood is an online sports betting site operated by Wildwood Casino. It tends to have low odds compared to its competitors. Although it offers a welcome bonus, bettors should look elsewhere for competitive odds. 

WynnBet Colorado

Claim WynnaBet Bonus: Bet $10 andget $100.

A product of the famous Wynn Resorts, the WynnBet app is great for players who want an app that brings Vegas to the other side of the Rocky Mountains. It offers competitive odds and a rewards program. Market depth is moderate, but all of the major sports that are popular among Americans are available on the app. So, if bettors are looking for something simple that allows you to collect rewards points, WynnBet is a pretty good choice. Bettors can redeem WynnBet’s promo code in Colorado for their welcome bonus, too.

theScore Bet

Claim theScore Bet Bonus: Receive a 100% match up to $1,000 and a $500 free bet.

theScore Bet offers two welcome bonuses: the $1,000 deposit bonus and the $500 risk-free bet.

The deposit bonus rewards bettors for their first deposit, up to $1,000. But to unlock that bonus, bettors need to wager. Bettors get 5% cash back on every wager for 60 days to slowly unlock the cash bonus they earned from their first deposit. That means to get the full $1,000, bettors must:

  • Deposit $1,000 on their first deposit.
  • Wager $20,000 in 60 days. 

However, bettors shouldn’t bankrupt themselves to get the whole bonus. Bettors should play what they can afford and be rewarded in proportion to their play. 

theScore Bet also offers a $500 risk-free bet. theScore Bet refunds bettors’ first bets if they lose. theScore Bet will award up to $500 in site credits on those lost wagers. However, if bettors wager less than $500 and lose, then they’ll get their stakes back in site credits instead.   

Elite Sportsbook

Claim Elite Sportsbook Bonus: Receive a $500 Risk-Free Bet

Elite Sportsbook is partnered with Red Dolly Casino. They are offering first-time users a $500 risk-free bet on their first bet. Bettors will only get the site credits if they lose, though. If bettors win, they get to enjoy their winnings. Winning is a better deal than receiving site credits, so bettors shouldn’t feel cheated out of a bonus if they win. 

Barstool Sportsbook 

Claim Barstool Sportsbook Bonus: Receive a $1,000 risk-free bet.

Barstool Sportsbook is available online and as a retail location at Blackhawk Ameristar. It launched in Colorado in August 2021. Barstool Sportsbook offers a $1,000 risk-free bet. Bettors can get up to $1,000 back in site credits if they lose their first wagers. However, bettors will get the amount they wagered back if they wagered less than $1,000. 

Superbook

Claim Superbook Bonus: Receive a 100% deposit match up to $500,

Superbook is partnered with the Lodge Casino and offers a $500 deposit match bonus.

Betway

Claim Betway Bonus: Receive a risk-free bet of up to $500.

Betway boasts a straightforward app design that gives bettors the features they’re looking for without having to scroll through the fluff. Its intuitive app design and simple theme make the betting lines and navigational tabs pop. So, bettors can get to live betting lines, popular betting lines, and other betting lines quickly.

Betway offers a $500 risk-free bet on bettors’ first wagers.

PlayUp

Claim PlayUp Bonus: Receive a 250% deposit match up to $200.

PlayUp partnered with Bull Durham Casino to bring sports betting to Colorado bettors. It offers a 250% deposit match up to $200. However, bettors must wager $5 to get $1 in site credits. Making the deposit is only the first step. Bettors should always expect a playthrough requirement attached to deposit bonuses.

Play Maverick

Claim Play Maverick Bonus: Receive a 100% deposit match up to $300.

Play Maverick is partnered with Grand Z Casino in the Central City and Black Hawk area. It offers up to a 100% deposit match of up to $300 to its new players. Bettors’ wagers will be split between their own money and the remaining bonus money. So, bettors who place a $300 bet would use $150 of their own money and $150 of bonus money. It works a little differently than other deposit bonuses.

Bally Bet

Claim Bally Bet Bonus: Receive a $550 risk-free bet.

Bally Bet partnered with Golden Gulch Casino in Colorado. New bettors can redeem a $550 risk-free bet upon signup. It’s a moderately sized risk-free bet compared to most Colorado sportsbooks.

Tipico Sportsbook

Claim Tipico Sportsbook Bonus: Receive a 100% deposit match up to $750.

Tipico launched in Colorado in partnership with Century Casino & Hotel at Central City. Bettors can redeem a deposit match deal up to $750. However, this only applies to bettors’ first deposits. So, it’s an easy one to miss.

Betsafe Sportsbook

Claim Betsafe Sportsbook Bonus: Receive a 100% deposit match up to $500.

Betsafe is a very recent entrant into Colorado’s incredibly diverse sports betting market. Indeed, it is a recent entrant into the US in general, having been live in Europe for many years previously. New users can get a 100% deposit match up to $500.

Colorado Sports Betting Sites Launching Soon:

 ClutchBet

Not too much is known about ClutchBet, as it is a brand-new app. However, BlueBet is the parent company, and they have a strong history of success in Australia. ClutchBet is set to launch in Iowa first, which is expected to happen very soon.  Colorado will likely be the second state for ClutchBet. The operator already is licensed in Colorado and has chosen Denver for its US office.

Colorado Sports Betting Promotions

Existing users can take part in sports betting promotions offered at many of the Colorado sports betting sites. Deposit bonuses reward bettors for how much they deposit and wager. Risk-free bets refund losing bets with site credits. However, bettors will find ongoing bonuses that offer small wagers on popular games, too. So, bettors should keep an eye out for new promotions.

Deposit Bonuses

Deposit bonuses appear the most enticing. They reward bettors for how much they deposit upfront. Sportsbooks seem to know that bettors who deposit money will use it, so it makes sense for them to incentivize large deposits. Deposit bonuses are awarded at a rate expressed as a percentage. A 20% deposit bonus, like DraftKings’, awards 20% of a bettor’s deposit in site credits. So, a $100 deposit would earn $20 in site credits. 

However, deposit bonuses often have playthrough requirements too. Bettors need to actually use the money they deposit before unlocking their bonuses. theScore Bet awards 5% of a bettor’s wagers up to the amount they deposited upfront. That way, sportsbooks ensure bettors are actually wagering. 

Risk-Free Bets

Ironically, risk-free bets require bettors to risk their own money upfront. Risk-free bets reimburse bettors for how much they lose on their first bet. The advertised amount is often the maximum bet that bettors can be reimbursed for in full. So, a $500 risk-free bet often means that bettors can lose $500 on their first bet, then get that money back in site credits. However, bettors can’t withdraw the site credits. Bettors can only get their winnings in the bank. Since these bonuses are often only good for the first bet, new bettors often miss the chance to use them. Don’t be one of them. Plan the first bet carefully. 

(Risk-free bets go by many different names, but many online sportsbooks will offer a similar structure even if they use a different name.)

No-Deposit Bonuses 

These are small, unremarkable bonuses that bettors receive upon signing up. However, these are in the form of site credits too. They’re not free money for bettors to withdraw and use as they please. Bettors must use those credits to wager at their sportsbooks or forfeit them. They’re usually not larger than $50, so don’t get too excited about them. Barstool Sportsbook offers a $10 no-deposit bonus for signing up knowing they’ll win that money back over time. However, they can help new and nervous bettors try betting for the first time. Sportsbooks likely use these to lure the most cautious of new bettors in, hoping they’ll wager more after using these first site credits. 

Ongoing Event Bonuses

These are other small bonuses that are tied to specific events. For example, BetMGM often offers a deal where bettors wager $50 on college basketball and get a $25 free bet for college football. Little bundles like these help spread bets over all the events sportsbooks need money to cover. 

How To Claim Online Sportsbook Bonuses In Colorado

Claiming bonuses tends to be straightforward. First, bettors have to find the online sportsbook app they want to use. That’s as easy as visiting the operator’s website or searching the app store. Keep in mind that some brands have state-specific apps. If the Colorado app is available, choose that one. And don’t mistake a daily fantasy sports app for a sportsbook. They’re not the same. 

After that, bettors must register for accounts. Creating accounts is similar to any other website. However, sportsbooks require part or all of a bettor’s social security number. That may seem strange to new bettors. However, it’s part of an identity verification step that all licensed Colorado sportsbooks must adhere to. No one wants to award money to money launderers, after all. 

Once bettors are registered, they just have to fulfill the first terms of the welcome bonus. That could mean different things for different bonuses and sportsbooks. For example, DraftKings offers a $1,000 deposit bonus. However, they have different ways to unlock the full promo. DraftKings requires a large deposit upfront followed by a 25:1 playthrough requirement. But theScore Bet only requires a 20:1 playthrough. That means earning the full deposit bonus requires $5,000 less at theScore Bet than at DraftKings. 

However, risk-free bets come with their own terms, too. Their terms often hinge on the first wager. That means planning to bet big later is a poor strategy for fulfilling those terms. Read up on bonus terms before wagering if you want to take advantage of them. 

Once the terms are fulfilled, bettors will find the bonus in their accounts. That could be site credits for additional betting or risk-free bets worth redeeming. Bettors should check their accounts and bet slips if they’re looking for the rewards they reaped from their sportsbook bonus. 

Colorado Sports Betting Bonus FAQs

How old do bettors need to be to place online sports bets in Colorado?

Sports bettors need to be at least 21 years of age. While daily fantasy sports players only need to be 18, sports bettors must be 21. This staves off a potentially thorny legislative issue. The idea of high school seniors gambling online is unsettling, even to gambling supporters. Raising the sports betting age got around that and likely helped keep mobile sports betting out of high schools.

Can bettors claim bonuses at more than one Colorado sportsbook?

Yes. Because bettors create separate accounts for each sportsbook, they can claim each sportsbook’s bonus. However, they can only claim bonuses once. Each sportsbook account is tied to a social security number. It’s hard to fake two accounts. Even if bettors could borrow a social security number, sportsbooks would suspend that account if they suspected that it was the same person. Sportsbooks have massive sets of data to use to identify duplicate accounts. Fooling them isn’t as easy as bettors may think

What are the playthrough requirements for legal online Colorado sportsbooks?

Each playthrough requirement can differ from sportsbook to sportsbook. However, most of them are associated with deposit bonuses. After fulfilling the deposit requirement for a deposit bonus, bettors often have to wager their money to unlock site credits. They can take the form of fixed site credits per dollar wagered or a percentage of wagered dollars. Bettors must understand each bonus to learn how they wish to fulfill their playthrough requirements.

What’s bonus abuse and how do I avoid it?

Bonus abuse is using multiple accounts to benefit from bonuses multiple times. Sportsbooks anticipate a certain return-on-investment from their bonuses. They expect to spend a little money to retain bettors over their full customer lifetimes. But those calculations assume one bonus per sportsbook. Any more than that is theft.

As long as bettors aren’t creating multiple accounts to profit from different bonus terms, then they’re fine. They can create single accounts at multiple sportsbooks, but creating multiple accounts at any sportsbook will get them in trouble.

What’s the bonus at DraftKings Sportsbook in Colorado?

DraftKings Sportsbook offers a $50 free bet plus a $1,000 deposit bonus at a 20% match rate.

For the deposit match, if bettors deposit $100, they can earn up to $20 in site credits. However, bettors also have to use the money to bet. DraftKings requires its bettors to play $25 to earn each $1 of site credit. In the $20 example, a bettor would need to wager $500 for the bonus credits. For the full $1,000, bettors would need to play $25,000. Bettors are rewarded based on how much they deposit and play. As long as bettors are wagering at the pace they’ll normally wager, they’re getting a fair value of the bonus.

Is there a wager requirement for Colorado sports betting apps?

Sometimes. Some sportsbooks require bettors to use their bonuses on bets with certain odds. Colorado sportsbooks usually set the minimum odds around -200. That way, sportsbooks don’t lose too much money giving away bonus credits and paying additional winnings. Each sportsbook bonus has its own terms, but this is the most common one. Bettors have to watch for these on risk-free bets more than anywhere else. Otherwise, bonus terms should be largely clear.

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.