DraftKings Colorado Promo Code & Sportsbook Review 2022

$50 Bonus Bet
Plus Up To $1,000 Deposit Bonus - T&C's Apply
4.8
Overall
Bonuses and Promotions
4.0
Odds VS. The Competition
4.5
Market Depth & Variety
5.0
Deposit & Cash Out
5.0
Mobile App
5.0

Click here to claim your $50 site credit plus 20% deposit match worth up to $1,000.

DraftKings is a great sportsbook for casual bettors who are just getting into sports betting. It has convenient funding options, a user-friendly app, and more than enough market depth and variety. For Colorado Rockies fans, DraftKings is the preferred sportsbook for the MLB team. Overall, DraftKings Colorado is one of the strongest sportsbooks in Colorado.

For a limited-time, all new users can claim an additional $200 in bonus bets for placing a $5 wager on any market, win or lose.

Bonus Bet Offer
Banking Options
Great App

**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.

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DraftKings Colorado Sportsbook Promo Code February 2023

DraftKings Colorado is offering new users a $50 bonus bet as long as you deposit at least $5. In addition to the site credit, DraftKings Sportsbook will also match 20% of your deposit which maxes out at $1,000.

For a limited time, new users who place a $5 wager will receive an additional $200 in bonus bets. All in all, DraftKings Colorado users can claim up to $1,250. No promo code is needed, just click this exclusive link to claim your DraftKings new user promo.

Terms and conditions apply.

DraftKings Sportsbook Colorado Promo Code
Click To Claim!
Deposit Bonus
$50 bonus bet + 20% deposit match worth up to $1,000
DraftKings Sportsbook States
AZ, CO, CT, IL, IN, IA, KS, LA, MD, MI, NH, NJ, NY, OH, PA, TN, VA, WV & WY
Last Verified
February 2023
4.0
Promos

While DraftKings has a great new user offer, an area where the sportsbook could improve is with its ongoing promotions.

Other Colorado online sportsbooks do a much better job offering promos and bonuses for existing users throughout the year.

This is the only true blemish on an otherwise fantastic sportsbook.

4.5
Odds

Does DraftKings Colorado Deal Competitive Odds?

The odds you will find at DraftKings stack up favorably compared to other legal Colorado sportsbook apps. Despite that, it’s always critical to compare odds at different books before placing your bet.

How Do Spreads, Moneylines, And Totals Work?

Point spreads are the great equalizer in sports betting. Points are added or subtracted from a team’s final score. Let’s use the betting line at DraftKings for the Denver Broncos-Seattle Seahawks NFL season opener in September to explain how these odds work.

TeamSpreadTotalMoneyline
Broncos-6O 44-260
Seahawks+6U 44+220

Denver is laying -6 points as the road favorite, meaning the Broncos need to win by at least seven points to cover the spread. Seattle can lose the game by five points and still cover as the underdog. If the margin of victory is exactly 6 points, both sides would result in a push.

Seattle was getting +6.5 points at other books, which is why you need to scour the industry for the best odds on your bet. You’re not betting on the underdog at +6 when +6.5 is available elsewhere.

The total for this game was set at 44. You can either bet under or over this number. Over bettors need 45 points to be scored to cover. Under bettors will root for a maximum of 43 points to cash their bet. The moneyline odds are offered on each team to win the game outright without regard to any points differential.

A $260 bet on Denver will pay out $100 if the favorite wins. Conversely, a $100 wager on Seattle will bring back $220 if the underdog wins.

Shopping for the Best Moneyline Odds

Moneyline odds are popular in MLB betting. Check out these odds for the July 1 game between the Arizona Diamondbacks and Colorado Rockies.

TeamSI SportsbookDraftKings
Diamondbacks+100+100
Rockies-118-120

DraftKings and SI Sportsbook offered very similar odds here. The latter had slightly better odds on the Rockies at -118. A $118 bet will pay out $100 with a Colorado win. Sportsbooks charge a fee to process your wager. This is known as the vig or juice. At standard odds of -110 on both sides of a bet, the vig computes to 4.36%. Based on the odds offered above, DraftKings had a slightly higher vig at 4.55% compared to SI Sportsbook (4.13%).

That’s a nominal difference. The most important thing is getting the best odds for your bet. If you’re an Arizona backer, make the bet at DraftKings or SI Sportsbook at even money (+100) odds.

Where to Find the Best Futures Odds?

Futures odds are on big events whose result won’t be known until later in the season, such as the winner of the World Series and NBA Finals. Here are the futures odds on the Colorado Avalanche to win the 2022-2023 Stanley Cup, as of Feb. 5.

SportsbookDraftKingsFanDuelBetMGM
Colorado Avalanche Stanley Cup Odds+650+700+750

We can see that here that all three sportsbooks offer different odds and that DraftKings has the worst price among the three. This is yet another example of why line shopping is important regardless of the type of bet you’re placing.

5
Depth

DraftKings has a wide selection of sports and bets. Bettors can find lines on core professional sports. However, DraftKings has expanded its selection to sports like professional volleyball. Bettors can even find betting lines on darts, table tennis, and e-sports. There’s no shortage of international leagues to choose from, either. Even South Korean baseball leagues are available.

But there are limits to what DraftKings can offer in Colorado. The Colorado Division of Gaming has a list of approved games that sports betting operators can offer betting lines on. No one can go rogue and offer lines on a new sport without approval from the Colorado Limited Gaming Control Commission.

Sports betting operators can, however, vary in the types of bets they offer. Almost all sportsbooks offer moneyline, point spread, and prop bets. But DraftKings offers single wagers and round robins. That gives bettors a few different ways to wager on their favorite sports. DraftKings has many events to bet on and many ways to bet on them. It’s one of the best sportsbooks for bettors looking for choice.

4.5
Cashout

Putting money into and withdrawing money out of a DraftKings account is super easy. Once a DraftKings account is set up, bettors will be able to deposit money through:

  • Online banking
  • Credit or debit cards ((Visa, MasterCard, Discover, American Express)
  • PayPal
  • Play+ prepaid card
  • ACH eCheck
  • Wire transfer
  • DraftKings gift card

There are a few options for withdrawals, including:

  • Mailed check
  • PayPal
  • ACH eCheck
  • Play+ prepaid card
  • Cash at cage pickup

Whether bettors want to pick up money in person or want to manage their money virtually, DraftKings has them covered.

5
App

DraftKings’ app offers an easy sign-up, a user-friendly interface, and a straightforward way to bet.

Bettors don’t even have to log in if they want to view DraftKings’ odds. There’s a link to the sportsbook below the login boxes for people who want to view the odds, but don’t want to create an account. DraftKings asks for bettors’ names, email addresses, and the last four digits of a bettor’s Social Security number. The Social Security number accomplishes two things:

  • It ensures users are old enough to engage in sports betting per state regulations.
  • The user really is who they say they are (it’s an anti-money laundering safety tool)

Once that easy setup is done, bettors can either browse the popular betting lines on the screen or look for something else in the quick links at the top of the screen or the A-Z listings on the banner at the bottom of the screen. After that, placing a bet is as easy as clicking on the odds and placing a bet. There was a box for how much I wanted to bet, and another telling me how much I could win. It’s tantalizing to see how much $20 is worth with +950 odds.

It’s easier to find what you want than FanDuel’s app, and it’s far more user-friendly than BetMGM’s app. DraftKings is also obviously ahead of the sportsbooks that still don’t have apps ready to go.

4.8
Overall

DraftKings Sportsbook is a leader in the sports betting industry for a reason. The DraftKings Sportsbook app is widely regarded as the gold standard for all sports betting apps for its sleek design and ease of use. With DraftKings, you can place wagers on nearly any sport you could want, and DraftKings offers variety and depth across all of its offerings as well.

The platform is simple enough for beginners and casual bettors to use, but also has robust betting markets perfect for experienced bettors.

With the fast and secure payment methods, the DraftKings Sportsbook offers one of the best overall betting experiences across all sports betting apps. If you were going to choose just one Colorado sports betting app to wager with, DraftKings makes a strong case to be your one and only.

Is DraftKings’ Colorado Sportsbook Legit?

New bettors may feel uncomfortable depositing money into an app. How do they know they’re going to get paid if they win? Or whether their personal information is safe? DraftKings, its partners, and its history lend a great deal of credibility. Here are five reasons bettors can trust DraftKings.

It’s Licensed With The State Of Colorado

Colorado requires every online sports betting entity to secure a license with the State of Colorado. The process of obtaining a gaming license in Colorado includes automatic disqualifiers, including:

  • A past conviction of a gaming-related felony
  • Identification as a career offender
  • Being a city manager in one of the casino cities

The process eliminates conflicts of interest and shady characters who shouldn’t control sportsbooks.

Its Licensed Partnerships In Colorado

Not only does DraftKings have the authority to operate in Colorado, but it is also launched a retail sportsbook inside the Golden Mardi Gras Casino in Black Hawk in late September 2020. The Golden Mardi Gras Casino also had to go through the process of licensing to have DraftKings in its casino, so its been vetted by and is accountable to the State of Colorado. Also in September 2020, DraftKings announced its partnership with the Rockies, which made it the preferred sportsbook and DFS operator for the Colorado Rockies.

Required Financial Reserves

According to Rule Six of Colorado’s Division of Gaming’s sports betting regulations, all licensed sports betting operators are required by law to have enough money in the bank to pay out winnings.

The Penalties For Not Paying Out

If sportsbooks fail to pay their winners–or fail to fulfill their basic duties as legitimate sportsbooks–then sportsbooks can lose their right to operate in Colorado. Rule 10 also gives citizens the right to initiate complaints with the State of Colorado if they feel it’s warranted. Good luck finding that kind of recourse against an illegal betting site.

DraftKings’ Best Interests

Since DraftKings’ fantasy sports have been live across the country for years, it cannot afford a reputation as an unreliable sportsbook. One of the most important things that sportsbooks sell is legitimacy. Sportsbooks can’t grow effectively without government and consumer trust. If DraftKings wants to continue expanding into new states, it cannot afford to abandon ethical business practices now.

WHY CHOOSE DRAFTKINGS OVER AN ILLEGAL SPORTS BETTING SITE?

Sure, DraftKings is available in Colorado. But why bet there when bettors have a bookie they’ve worked with for years or another offshore site they may have used without a problem?

There are a couple of key reasons to pick a legitimate sportsbook. One is the accountability that’s already been alluded to in the section above. If a bettor’s bookie runs out of cash, then bettors don’t have any recourse to collect their winnings. (Not without admitting that they were using an illegal bookie, anyway.)

However, there’s one more reason that bettors should go through licensed sportsbooks: taxes.

Where The Taxes From Sports Betting Go

Colorado has big plans for the taxes they’ll make off a legal sports betting industry. Prop DD, Colorado’s sports betting legalization bill, lists where sports betting taxes goes in the state:

  • Sports Betting Regulation
  • Gambling Addiction Services
  • Hold Harmless Fund
  • Water Projects

The first two services are self-explanatory, but a hold harmless fund may be new to some bettors. Taxes from sports betting operators go into a fund for businesses that may lose money to sports betting legalization. For example, a small casino without a sportsbook may lose some of its slots and table players to a sportsbook down the street. If that casino can show a decrease in revenue that’s caused by sports betting, then they can file to receive some of the money in the hold harmless fund.

The water projects are straightforward but broad. The idea is to use sports betting tax revenue to fund projects that will manage Colorado’s water supply. This is a big deal because Colorado supplies water for other states as well as itself. As climate change became a greater issue in Colorado, these water funds became more important to environmental groups. So, they managed to successfully lobby for sports betting tax revenue to fund water conservation.

Anyone who places a bet at a licensed Colorado sportsbook will support these projects and organizations. Conversely, placing a bet with your favorite bookie at IHOP will not.

WHY CAN BETTORS TRUST DRAFTKINGS WITH THEIR MONEY?

So DraftKings is legitimate and the tax revenues support important state initiatives, but how safe are bettors’ money? Leaving hundreds of dollars in some app seems unsettling.

However, DraftKings goes to great lengths to protect their patrons’ money. They have plenty of account safety features, and they separate their money and bettors’ money.

DraftKings’ Account And Web Security

DraftKings gives users a bunch of different ways to secure their account. There are additional “strong” authentication features that users can activate. DraftKings is also SSL secured, which only allows users and DraftKings’ server to see information bettors put in. It’s how DraftKings can ask for the last four digits of their users’ Social Security number and their money.

DraftKings’ In-House Handling Of Money

The money that players put into their accounts is separate from the money DraftKings pays its employees with. DraftKings’ sportsbook terms stipulate that customer funds must be placed in a segregated account. Keeping customer and business money separate prevents unexpected business expenses from robbing bettors of their rightful winnings. It’s one more way that customer funds are protected from business pressures. (Can you say the same about your IHOP bookie?)

DRAFTKINGS COLORADO FACT SHEET

Age to participate21
Where DraftKings is legal*AZ, CO, CT, IL, IN, IA, KS, LA, MD, MI, NH, NJ, NY, OH, PA, TN, VA, WV & WY
DraftKings' Colorado partnerGolden Mardi Gras Casino, Black Hawk


*Legal only means the state has legalized some form of sports betting, not that DraftKings is live in every listed state. It is not.

If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL).

Gambling problem? Call 1-800-GAMBLER (NJ/WV/PA), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO) or 1-800-BETS OFF (IA).

21+. NJ/PA/WV/IN/IA/CO/IL only. In partnership with Meadows Racetrack & Casino. Eligibility restrictions apply. See draftkings.com/sportsbook for details.

FAQ

Can Bettors Sign Up From Anywhere In-State?

Yes. Bettors can sign up on the DraftKings Sportsbook app or website. Bettors need to provide their home address and the last four digits of their Social Security number. Although, the geofence determines bettors’ locations, DraftKings still needs personal information for identify verification.

Do Bettors Have To Be In Colorado To Bet On DraftKings’ Sportsbook?

Yes. Per Colorado law, DraftKings must geofence its website and app to make sure that only Colorado bettors are placing bets.

However, they can create DraftKings accounts from anywhere. Bettors just have to place bets within Colorado’s borders.

How do you get paid if you win on DraftKings?

Bettors will see their wins in their transaction history. Then they can request a withdrawal by check, online wire transfer, ACH eCheck, or online banking. There’s also an in-person cash option.

Is Live In-Game Betting Available At DraftKings’ Sportsbook?

Yes. DraftKings has an entire section dedicated to live in-game sports betting. It’s a great way to watch the odds change mid-game, to cash in on an emerging underdog, or to monitor existing bets.

How Old Do Bettors Have To Be To Bet On DraftKings’ Sportsbook?

Bettors must be at least 21 to bet at Colorado’s sportsbooks.

Is DraftKings Casino available in Colorado?

No, currently only the sports betting app is available because online casino games are not currently legal in the state.

How Does DraftKings Know Its Bettors Are In Colorado?

It uses a geofence to create a barrier around Colorado. Bettors’ devices give DraftKings location information, so they know whether a bet is in Colorado. DraftKings also knows whether a device is coming from out of state, so it won’t accept bets from parts of the country where sports betting is illegal.

What is the DraftKings Colorado promo?

New DraftKings Colorado users can claim two different bonuses worth up to $1,250 with our exclusive DraftKings promo code link. New users will receive a $50 bonus bet and 20% deposit match worth up to $1,000 after placing a $5 deposit. You can then place a $5 wager on any DraftKings market to receive an additional $200 in bonus bets, win or lose.

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.