Colorado Online Sports Betting Bonuses January 2022

Colorado online sports betting bonuses are some of the most diverse in the country because of all the sportsbook brands that operate in-state. Most Colorado online sportsbooks offer sign-up bonuses including 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. So, 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. 

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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 January 2022: 

Best Online Sportsbook Apps In Colorado  

Best for 20% match up to $1000

20% match up to $1,000 (25x playthrough) + *$50 free bet with $5 deposit

Available On: Web Browser, iOS, Android

States Allowed: AZ, CO, IL, IN, IA, MI, NH, NJ, PA, TN, VA, WV, WY

Best for 20% match up to $1000

DraftKings Colorado

20% Match 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 May 2020.

New DraftKings sportsbook players can earn up to $1,000 in deposit bonuses. When bettors make a deposit, they’ll be eligible to earn $1 in site credits for every $5 they deposit, up to $1000. So, a $5,000 deposit would make bettors eligible for the maximum bonus amount.

However, DraftKings also has a playthrough requirement. Bettors receive $1 in site credits for every $25 they wager after depositing. 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.   

New members at DraftKings Sportsbook can now receive a $50 free bet for making a deposit of $5 or more. This exclusive deal is available to all those joining DraftKings Sportsbook for the first time. Bettors can also 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 a $600 risk-free bet

$1,000 Risk Free Bet On BetMGM's Website

Available On: Web Browser, iOS, Android

States Allowed: AZ, CO, IN, IA, MI, NJ, NV, PA, TN, WV, VA, DC, WY

Best for a $600 risk-free bet

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

Bet MGM offers a risk-free bet of up to $1,000. So, bettors can get their stakes back if they lose. However, this bonus only applies to bettors’ first bets. If bettors lose their first bet, then BetMGM will add risk-free bets to bettor accounts. However, if bettors win, then they get winnings that can be withdrawn. Bettors can use our BetMGM sportsbook bonus code in Colorado to redeem this welcome bonus. 

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

Best for a $1,001 first bet match

$1,001 First Bet Match On Caesars's Website

Available On: Web Browser, iOS, Android

States Allowed: AZ, CO, IL, IN, IA, MI, NJ, NV, PA, TN, VA, WV

Best for a $1,001 first bet match

Caesars Colorado

First Bet Match

$1,001

code: SHARPBET

Retail Partner

Isle Casino Hotel

in 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. Part of that rebrand was a $1,001 first bet match. Bettors can wager up to $1,001 on their first bets and get up to $1,001 back in site credits if they lose. Caesars Sportsbook’s bet must be used within 30 days from the date it’s awarded.

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

  • Convenient banking options
  • Risk-free bet offer
  • Caesars Rewards program

Best for a 100% match up to $250

100% match up to $250

Available On: Web Browser, iOS, Android

States Allowed: AZ, CO, IL, IN, IA, MI, PA, VA, & NJ (Under SugarHouse brand)

Best for a 100% match up to $250

BetRivers Colorado

100% Match Up To

$250

Code: SHARP250

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.

BetRivers has a number of loyalty perks and rewards for Colorado sports bettors. It offers a 100% deposit match of up to $250. BetRivers will release $1 in site credit for every $1 that bettors wager. Bettors can use our BetRivers affiliate code to redeem this bonus. It has the best rate of reward among Colorado deposit bonuses, but it’s far from the largest.  

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
  • Mobile-friendly site
  • Unique parlay bets

Best for a $1,000 risk-free bet

$1,000 Risk Free Bet On FanDuel's Website

Available On: Web Browser, iOS, Android

States Allowed: AZ, CO, IL, IN, IA, MI, NJ, PA, TN, VA, WV

Best for a $1,000 risk-free bet

FanDuel Colorado

Risk-Free 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 used to offer Colorado’s largest welcome bonus.

FanDuel currently offers a $1,000 risk-free bet for new bettors. Although it’s dwarfed by 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 bets, then get their lost stakes back. Interested bettors can use Colorado Sharp’s FanDuel affiliate link to get this welcome bonus. 

  • Popular betting lines
  • Good deposit options

Best for a $1,002 first bet match

$1,002 Free Bet On Betfred's Website

Available On: Web Browser, iOS, Android

States Allowed: CO, IA, PA

Best for a $1,002 first bet match

Betfred Colorado

100% Match

$1,002

On First Bet

Retail Partner

Denver Broncos

in Denver

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 a $1,002 first bet match offer after registering with the app and depositing at least $10.

Interested bettors can use our Betfred Colorado promo link to cash in on this bonus when they create their accounts.

  • Simple, clean app
  • Several years in the industry

Best for up to a $2,000 Risk-Free Bet

Risk-Free Bet Up to $2,000 At PointsBet

Available On: Web Browser, iOS, Android

States Allowed: CO, IA, IL, IN, NJ, VA, MI, NJ, WV

Best for up to a $2,000 Risk-Free Bet

PointsBet Colorado

Risk-Free Bet Up To

$2,000

For Pointsbetting or Fixed-Odds Betting

Retail Partner

Double Eagle Hotel and Casino

in Cripple Creek

Licensed By

Gaming Division

Colorado Department of Revenue

PointsBet bettors can redeem risk-free bet of up to $2,000 using our exclusive PointsBet Colorado promo code: BESTOFFER.

PointsBet has a unique spin on the risk-free bet. Bettors must still use this bonus on their first bets. However, bettors can choose to use it on a fixed-odds wager or a PointsBet. Fixed-odds bets are traditional game lines with set odds.

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

So, if bettors can make exact points spread or over/under predictions, they should try PointsBetting. Otherwise, fixed-odds bets are probably best.  

  • Convenient deposit options
  • Great promo offer

Best For Up To $2,022 In Free Bet Credit

100% Up To $2,000 + $22 Free

Available On: Web Browser, iOS, Android

States Allowed: Colorado

Best For Up To $2,022 In Free Bet Credit

MaximBet Colorado

100% Up To

$2,000

+ $22 Free

Retail Partner

Johnny Nolon's

in Cripple Creek

Licensed By

Gaming Division

Colorado Department of Revenue

MaximBet is a hidden gem in Colorado’s sportsbook market. It offers $22 free with a $10 deposit and a $2,000 deposit bonus with a match rate of 100%. So, MaximBet will match bettor deposits dollar for dollar.

The offer is for new accounts only, and bettors must wager within 7 days. Bettors who want this bonus can use our MaximBet Colorado promo link to redeem it.

  • Good opening contests
  • Betting rewards
  • Deposit match bonus

Other Sportsbook Apps Available In Colorado

WynnBet Colorado

Bonus: Risk-Free Bet Up to $1,000

Claim Bonus: $1,000 Risk-Free Bet

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.

FOX Bet Colorado

Bonus: $500 Risk-Free Bet 

Claim Bonus: $500 Risk-Free Bet

FOX Bet offers new players a $500 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 $500. 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 Bonus: $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 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 the online sportsbook from the Southern Ute Indian Tribe. Sky Ute Sportsbook launched on June 9 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: 100% Deposit Bonus 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. 

theScore Bet

Claim theScore Bet Bonus: 100% Match up to $1,000 and $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, though. 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: $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 

Bonus: $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

Superbook Bonus: 100% Deposit Match up to $500

Superbook is partnered with the Lodge Casino and offers a $500 deposit match bonus. It’s twice what BetRivers offers with the same match rate. So, it’s a good welcome bonus for bettors with some money left over to take advantage of.

PlayUp

PlayUp Bonus: 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

Play Maverick Bonus: 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.

Betway

Claim Betway Bonus: $250 Risk-Free Bet

Betway sportsbook is available in Colorado, New Jersey, Pennsylvania, and Indiana. In Colorado, it partnered with the Famous Bonanza Casino and offers a $250 risk-free bet. It’s a straightforward offer. If bettors wager $250 and lose on their first wagers, then they’ll get $250 back in site credits. If bettors wager less than $250, then they’ll get the amount they wagered back in site credits. It’s a small offer in Colorado’s sports betting market.

TwinSpires

TwinSpires Bonus: $1,000 Risk-Free Bet

TwinSpires offers a decent welcome bonus in partnership with Billy’s Casino in Cripple Creek, Colorado. Bettors can bet up to $1,000 on their first wagers, lose, and get $1,000 back in site credits. If bettors wager less than $1,000, then they’ll get their lost stakes back in site credits. It’s a competitive bonus that matches the prestige of the casino company that brands the TwinSpires sportsbook.

Bally Bet

Bally Bet Bonus: $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.

SI Sportsbook

Claim SI Sportsbook Bonus: Bet $10 get $300 in free bets with promo code SI300

Sports Illustrated launched its sports betting app, SI Sportsbook in Colorado in September 2021. It offers several promotions for new bettors. Use code SI300 to bet $10 and get $300 in free bets at SI Sportsbook in Colorado.

Tipico Sportsbook

Tipico Bonus: 100% Deposit Match up to $750

Tipico launched in Colorado in a 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.

Colorado Sports Betting Sites Launching Soon:

Bet365

Bet365 has announced that it will launch in Colorado. However, if it comes to Colorado, bettors will likely be able to claim a 100% deposit match up to $500. It’s what it offers in other states, but Bet365 could always offer a unique Colorado bonus, too. However, the most likely scenario is that it’ll extend its standard welcome bonus to Colorado.   

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. 

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. BetMGM 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 on. 

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 wager at. That’s as easy as googling the 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. 

But 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?

21. 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 at 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 $1,000 deposit bonus at a 20% match rate. 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.

What’s FanDuel Sportsbook Colorado's bonus?

FanDuel offers a $1,000 risk-free bet to its new bettors. If a bettor’s first wager loses, then they’ll get site credits back equal to their losing bet, up to $1,000. Betting big on the first wager may be a good value for bettors with cash to spare. However, site credits are not the same as winnings. Bettors can withdraw winnings from their accounts. They cannot withdraw site credits. Bettors can only use site credits for betting on FanDuel.

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.