Best Colorado Sports Betting Bonuses & Promo Codes February 2023
Obtaining access to the best Colorado betting bonuses is achievable in minutes. Simply source a preferred Colorado sports betting site, complete the sign-up process, make a qualifying deposit, place an initial wager, and you’re in business.
Though there is a bevy of sportsbook options in the Centennial State, these six have the best Colorado sportsbook bonuses: Caesars Sportsbook, bet365, FanDuel, BetMGM, WynnBET, and BetRivers.
Top Colorado sportsbook bonuses
#1 Top-rated sportsbook
BetSmart™ Rating: 4.7/5- Generous welcome bonus
- Offers same-game parlays
- Ample betting options
Payout Speed:Deposits & withdrawals
BetSmart™ Rating: 4.4/5- Top-rated sportsbook
- Ample markets
- Fast and secure banking
Deposits & withdrawals
BetSmart™ Rating: 4.7/5- Competitive pricing
- Offers same-game parlays
- Exclusive live streaming
Deposits & withdrawals
BetSmart™ Rating: 4.4/5- User-friendly mobile app
- Good deposit options
- Offers same-game parlays
Deposits & withdrawals
BetSmart™ Rating: 4.3/5- Weekly promotions
- Over 20 sports available
- Offers same-game parlays
Deposits & withdrawals
BetSmart™ Rating: 4.1/5- Secure banking options
- User-friendly mobile interface
- Live betting and early cash out
Deposits & withdrawals
Quick facts: Colorado promo codes
| Online launch date | May 1, 2020 |
| Number of betting sites | 24 |
| Best sportsbook bonus | Caesars |
| Online betting | Yes âś… |
| Retail betting | Yes âś… |
| Betting on college sports | Yes âś… |
| Remote registration | Yes âś… |
| Online casinos | No ❌ |
| Legal betting age | 21 |
1. Caesars Colorado welcome offer
Up to $1,250 on Caesars
Promo code: COVERSBONUSFULL
One of the best Colorado betting bonuses, Caesars’ latest promo goes to those who sign up, deposit at least $10, and lose their initial qualifying wager.
To redeem up to $1,250 on Caesars Sportsbook, make sure to use promo code COVERSBONUSFULL. You’ll also get 1,000 Caesars Rewards® Tier Credits and 1,000 Caesars Rewards Reward Credits.
An extensive list of stipulations applies to Caesars Sportsbook’s current promotion, which is running indefinitely. Here are five of the most notable:
- You must make a qualifying bet within 30 days of opening your account.
- The bet credit will be deposited into your account within two days of your lost initial wager.
- The tier and reward credits will appear in your account within seven days of the lost wager settling. These credits cannot be redeemed for cash, nor can they be transferred.
- You must use all of the bet credit on your next wager.
- The given bet credit must be used within 14 days of being credited to your account.
- Winnings are paid out on the bet credit, not the stake.
Caesars promo pros and cons:
Must use entire bet credit on follow-up wagerOnly winnings paid out on wager using bet creditNo bet credit if the first wager winsWhat does up to $1,250 on Caesars mean for you?
Getting started with up to $1,250 on Caesars is an excellent way for new bettors to enter the industry. It provides a lower-risk opportunity, facilitating two chances to make good on initial bets. If you lose the first bet, a second is provided via Caesars’ bet credit reimbursement.
In addition to the potential bet credit, the 1,000 tier and 1,000 reward credits help sweeten the pot. Caesars’ tier system contains numerous levels that each unlock a different set of perks, while rewards credits can be built up and used on things like show tickets, spa trips, shopping, and more.
How much money can you earn with up to $1,250 on Caesars?
The Caesars welcome offer can be highly lucrative depending on how much money you initially wager. There are no odds requirements for this Caesars bonus, so you can bet on whatever market you wish. As an example, if you wager on the Colorado Rockies at odds of -500 using the maximum $1,250 amount, you would garner $250 in winnings should your bet prove successful.
Why is this bonus better than the others?
Caesars’ $1,250 bet credit is among the best Colorado betting bonuses due to its high maximum match amount.
2. bet365 Colorado welcome offer
Bet $1, win $200 in bonus bets
No code required
We typically prefer welcome bonuses that do not require customers to go into their own pocket. However, the $1 investment to secure $200 in guaranteed bonus bets earns top marks from us in Colorado. New bet365 Colorado customers recieve $200 in bonus bets with a $1 initial wager made on any market. The best part? Losing bettors still get $200 in bonus bets. Here's what you need to know:
- Customers don't need a bet365 promo code.
- Make a deposit of at least $10 following your account creation.
- Place a $1 bet on any market within 30 days of registering your account.
- The initial wager must include one selection with odds of -500 or greater.
bet365 promo pros and cons:
Still requires $10 real-money depositBonus bets do not equate to winningsBets tied to events with odds of -500 or betterWhat does a 'bet $1, win $200' first bet mean for you?
Few things in life are guaranteed, but that's exactly what you get from bet355 Colorado. Even if you happen to lose your first bet, trust us, it happens, bet365 will credit your account with $200 in guaranteed bonus bets. We really like how any profit made from a winning initial bet is yours to keep.
How much money can you earn with $200 in bonus bets?
Winning first-time wagerers keep all profit from the bonus. Naturally, the winnings you may incur will vary depending on the size of your bet. The minimum odds requirement of -500 or better factors in here, too. Still, you can place that $1 initial wager on any market of your choosing.
Why is this bet365 bonus better than the others?
The $200 in bonus bets can be used on one bet, or you can split it up in any number of ways. Plus, those bonus bets can be applied to any market, whether that's an upcoming NFL game or future events.
3. FanDuel Colorado welcome offer
$3,000 No Sweat First Bet
No code required
FanDuel is renowned in the industry for perpetually pushing the welcome bonus envelope. The sportsbook executes its sign-up offers expertly, continuously garnering swaths of new bettors. FanDuel's "$3,000 no sweat first bet" offer is undoubtedly one of the best Colorado betting bonuses.
Here are five of the more crucial stipulations of FanDuel’s bonus offer:
- No FanDuel promo code is required, but you must download the FanDuel mobile app to claim this offer.
- An initial deposit of at least $10 is required to be eligible for the bonus.
- After placing the wager, FanDuel will issue you up to $3,000 in bonus bets if the wager loses.
- The bonus bets will be deposited into your account within 72 hours of your first bet.
- Bonus bets can be used on any sports betting market. Any unused portions of your bonus bet credit will expire after 14 days. This promotion ends at 11:59 p.m. ET on Feb. 12, 2023.
FanDuel promo pros and cons:
Still requires $10 real-money depositUp to a 72-hour waiting period to receive bonus betsWhat does a $3,000 FanDuel No Sweat First Bet mean for you?
Seldom in life do you get the chance at a do-over, but FanDuel’s $1,000 no sweat first bet provides that rare and glorious opportunity. Lose your first bet and wait for FanDuel’s bonus bets with open arms. Win your first bet, and it’s like the promotion doesn’t exist. This particular welcome offer lets bettors make an initial wager that’s high risk while shedding the usual worry associated with losing.
How much money can you earn with a $3,000 No Sweat First Bet?
The amount of money you can garner through FanDuel's welcome offer will vary depending on the size of your wager. Since there are no odds requirements for FanDuel's bonus, you can place your bet on whatever you like. For example, should you choose to make a wager on the Colorado Avalanche at odds of +300 using the maximum $3,000 amount, you would profit $9,000 if your bet wins.
Why is this bonus better than the others?
The $3,000 maximum match offer is the most lucrative offer we've ever seen from FanDuel. That, combined with the fact that the bonus bets can be broken down however you wish, makes FanDuel's Colorado bonus far more favorable than most others.
4. BetMGM Colorado welcome offer
$1,000 back in bonus bets
No code required
Rapidly gaining popularity and notoriety, BetMGM understands the influence welcome bonuses have on acquiring new customers. Its latest $1,000 paid back in bonus bets offer appeals to the broadest possible demographic, as it facilitates new and experienced bettors two opportunities to make good on their initial wagers.
So long as you sign up, make a deposit, and lose your initial wager, BetMGM will reimburse the entire stake up to a maximum of $1,000. If you win the opening bet, the promotion is null and void. You don't need a BetMGM promo code to nab this offer.
BetMGM’s active new player promotion has a comprehensive list of terms and conditions. Below are five of the most important:
- You must deposit a minimum of $10.
- The bonus, the amount of which depends on the initial stake, will only be credited to your account if your first bet loses.
- All bonus bets will be credited to your account within 24 hours of the failed qualifying bet.
- The bonus bets must be redeemed within seven days.
- You will only receive the winnings, not the stake, on bets that utilize bonus bets.
BetMGM promo pros and cons:
Promotion null and void if bettor wins first wagerBonus bets must be used within seven daysOnly winnings paid out on bets utilizing bonus betsWhat does $1,000 paid back in bonus bets from BetMGM mean for you?
BetMGM distributes the bonus bets — if you’ve made an initial bet of $50 or more — with five equal 20% deposits. This enables bettors to use the bonus bets on five subsequent wagers rather than a single follow-up wager, which is a significant benefit.
How much money can you earn with $1,000 in bonus bets?
As with other bonus bet welcome offers, the amount of money you can earn through BetMGM's bonus varies depending on your first wager. No odds requirements need to be met for BetMGM's promo either, opening up your betting options to any market. For example, if you opt to wager on the Denver Nuggets at odds of -250 using the maximum $1,000 amount, you would snag $1,400 should your bet win.
Why is this bonus better than the others?
Bettors of all skill levels enjoy the idea of numerous wagering opportunities. That’s precisely what BetMGM, with its five equal reimbursements on failed first bets of $50 or more, offers.
5. BetRivers Colorado welcome offer
Up to a $500 2nd chance bet
Code: SPORTS
Yet another top Colorado sportsbook bonus is BetRivers’ offer of up to a $500 bonus bet offer. It’s a simple, customary promo in which BetRivers provides a user with a second chance should their initial bet fail. The BetRivers promo code — SPORTS — is required for this promotional offer.
BetRivers’ current sign-up bonus has a number of applicable terms and conditions, including five of the most integral seen below. This promotion ends on Feb. 28, 2023.
- A minimum deposit of $10 is required to receive the match bonus.
- Your first wager will be reimbursed by BetRivers fully, up to a maximum of $500, should it lose.
- The bonus bet will be credited to your account within 24 hours of your losing wager settling.
- The bonus bet can only be used on wagers with attached odds of -200 or longer (for example, -190 is fine, but -200 doesn’t qualify).
- All bonus money acquired must be used within 30 days of receiving it.
BetRivers promo pros and cons:
Odds restrictions placed on bonus betFirst bet must lose for promo to activateBonus bet cannot be withdrawn as cashWhy is this bonus better than the others?
BetRivers’ welcome offer is a low-risk way to potentially bolster your original investment.
6. WynnBET Colorado welcome offer
Bet $100, win $100
No code required
WynnBET makes a statement with its slightly more unique welcome bonus, offering new customers a $100 bonus bet on an initial deposit and wager of $100 or more. This particular bonus offer is guaranteed, setting it apart from other Colorado sportsbook bonuses.
This promotional offer comes with specific odds restrictions, preventing bettors from backing heavy favorites — the bettor must choose odds of -120 or longer. No WynnBET promo code is required to redeem this offer.
Here are five of the most notable terms for the current bet $50, win $200 welcome promotion, which runs until July 31, 2023:
- A minimum $100 deposit and a $100 qualifying wager are required for the bonus.
- The bonus bonus is distributed in one installment and cannot be divided into smaller bets.
- WynnBET will deposit the bonus bet into your account within 24 hours of your initial qualifying wager settling.
- The bonus bets must be used within 10 days of being credited to your account.
- The bonus bet can only be used for pre-game wagers.
WynnBET promo pros and cons:
Odds restrictions applyAdditional restrictions apply to bonus betBonus bet must be used within 10 daysWhat does a $100 bonus bet from WynnBET mean for you?
WynnBET’s $100 in bonus bets is guaranteed, which is the most emphatic selling feature of the welcome offer. You know you’ll get the bonus bet regardless of the outcome of your initial wager.
Latest CO betting news
Most common sign-up bonuses
Colorado sports betting companies have a multitude of bonuses in their arsenals to attract new users, but the three most popular are second chance bets, deposit matches, and no-deposit bonuses. Make sure to visit our most common sportsbook sign-up bonuses guide for even more information.
Second chance bet
Second chance bets are an excellent way for bettors to wager unfettered, without concern of losing. If a user’s first bet fails, the sportsbook returns the amount wagered up to a specified number.
If the Colorado Rockies are heavy underdogs, but you feel they have a good chance of winning, a second chance bet allows you the opportunity to commit to the wager without worrying about a potential loss. Should the Rockies win, you’ll walk away with maximum profit. If they lose, the sportsbook will reimburse the stake, providing a do-over opportunity on its dime.
Deposit match
A deposit match is a guaranteed bonus offer that sees a sportsbook credit a user’s account with the same amount initially deposited, up to a pre-specified maximum. It immediately doubles the bettor’s wallet, making for a rather enticing promotion.
Sportsbooks offer a wide range of deposit matches, from 50% to 100% to even more lucrative 200%, even 300% offers. The most common deposit match is 100%.
No-deposit bonus
No deposit bonuses are typically used as a welcome bonus or as part of a big-event promotion, like the Super Bowl, March Madness, or the NBA Finals. The sportsbook deposits credit on the user’s behalf to secure the bettor’s initial business. After wagering on the sportsbook’s dime, the new user is more likely to deposit their own funds and become a loyal patron.
What online sportsbooks can I use in Colorado?
There are currently 24 active online sports betting sites taking wagers in Colorado — more than anywhere else in the United States. In May 2020, BetMGM, BetRivers, DraftKings, and FanDuel became the first legal online sportsbooks to accept mobile wagers in the Centennial State. You can check out the full list — including the best new betting sites — here:
| Online sportsbook | Mobile app | Odds provider | Online casino | Retail partner |
|---|---|---|---|---|
Bally Bet  |
Yes | Bet.Works | No | Bally's Black Hawk |
| Barstool |
Yes | Kambi | No | Ameristar Black Hawk |
| bet365 |
Yes | bet365 | No | Century Casino Cripple Creek |
| Betfred Sports |
Yes | Playtech | No | Saratoga Casino Black Hawk |
| BetMonarch |
Yes | Stadium | No | Monarch Casino |
| BetMGM |
Yes | BetMGM | No | Midnight Rose Casino |
| BetRivers |
Yes | Kambi | No | McGills Hotel and Casino |
| Betsafe |
Yes | Betsson | No | Dostal Alley Casino |
| Betway |
Yes | Betway | No | Famous Bonanza Casino |
| Caesars |
Yes | Caesars | No | Lady Luck Casino |
| Circa Sports |
Yes | Circa | No | Century Casinos |
| DraftKings |
Yes | SBTech | No | Bally's Black Hawk |
| Elite Sportsbook |
Yes | Bet.Works | No | Red Dolly Casino |
| FanDuel |
Yes | Flutter | No | Bally's Black Hawk |
| FOX Bet |
Yes | TSG | No | Lady Luck Casino |
| Play Maverick Sports |
Yes | IGT | No | Maverick Gaming |
| PlayUp |
Yes | PlayUp | No | Bull Durham Casino |
| PointsBet |
Yes | Kambi | No | Double Eagle Casino |
| SBK |
Yes | Smarkets | No | Bronco Billy's Casino |
| SI Sportsbook (888) |
Yes | 888 | No | Colorado Grande |
| Sky Ute |
Yes | Sky Ute | No | Sky Ute Casino |
| SuperBook |
Yes | Stadium | No | The Lodge Casino |
| Tipico |
Yes | Tipico | No | Century Casinos |
| WynnBET |
Yes | GAN | No | Bronco Billy's Casino |
More Colorado betting resources
Colorado sportsbook bonus FAQs
Caesars offers the best welcome bonus in Colorado, though all five discussed promotions have their advantages.
The Caesars CO sportsbook promo code is COVERSBONUSFULL. With this code, new Caesars Colorado users can claim 1,000 Caesars Rewards® Tier Credits, 1,000 Caesars Rewards Reward Credits, and a bet credit of up to $1,250.
You can claim one sign-up bonus for each sportsbook you register with.
Bonus abuse sees an individual repeatedly sign up for promotions at the same sportsbook, usually for welcome offers designated for new, first-time users.
You must be 21 years old to legally bet on sports in Colorado.
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Joshua Howe is a sports betting editor at Covers, helping make smarter sports bettors since 2021. The experienced writer and editor has reviewed over 20 sportsbooks and has been placing his own wagers for three years and counting. He prefers FanDuel for its sleek app design and variety of NBA markets.
