Sports betting has become one of the hottest topics over the last few years. Since PASPA was dismantled in 2018, the paving of legalizing sports betting for every state has been steadily underway.
Now, sports betting fans can rejoice that it is legal in Colorado. The betting market in Colorado is an estimated $2 billion and appears that it could reach that number easily in its first full year of operation.
The sky’s the limit, and the expectations are high. Once all of the sports world comes back in action, you can almost bet that Colorado is going to be a hotspot for all the betting action and compete with the likes of New Jersey and Nevada.
Making Bets Online
This new law that went into effect on May 1 allows the use of online bets and mobile devices. Operators will specify their guidelines when using these features on the mobile app.
If a sportsbook comes into play that you use to have an account with, this is great news for you. However, you would have to have a new account for Colorado and not one that you use to have in another state.
These have intense verification processes to prove that you are of age, and you are who you say you are. Simply put, you better be at least 21 and have your identification ready to submit.
There is also a very accurate geo-location technology in these sportsbook apps. If you step foot out of state lines, you cannot place any more bets.
Finding The Right Sportsbook
Since everything will be new to the state of Colorado, these sportsbooks will be competitive in their approach to new users. The market is there for it, but obviously, they want the most money than to lose one to a competitor.
You will want to find one that appeals to you in at least one of three ways. You have one that is reputable, legal, and offers you bonuses or incentives for joining.
Obviously, you want the legal part first and foremost. If it has other characteristics, then you should go from there.
For ones that offer great incentives, these will vary from one sportsbook to another. These types of bonuses are ones such as deposit bonuses, free picks, and even money back bets.
Sportsbooks At Play
Upon the first day of action, customers have the luxury of choosing between four different sportsbooks. These will increase over time as casinos partner up with other sportsbooks and when sports get back in action.
The four main ones to choose from are:
However, recent news has led to 13 other potential sportsbooks that could be entering the area. William Hill is coming in as well as PointsBet. PointsBet is interesting because they are actually establishing their US headquarters in Denver.
To put it simply, the biggest names are heading into the area. The top players are extending from Nevada and New Jersey to capitalize on the Colorado market. Fans can expect the top of the line experience going forward.
In addition to regular sports betting, there are also other unique options available to bet on. This would be, for example, eSports. These eSports have all been given the go:
- Call of Duty
- Counter-Strike: Global Offensive
- League of Legends
- Rainbow Six
When Will Sports Come Back To Life?
It is still up in the air for when exactly each sport will come about. The four major US sports of the NFL, NHL, NBA, and MLB will each be trying to adjust their schedules to adhere to the disruption that the COVID-19 brought about.
Once these leagues are back in full force, the betting world will take off again. As for Colorado, these markets will be huge to bet on.
The rise of sports betting is something that is continually increasing more and more each day. By the end of the year, hopefully, everything will be back to normal.
With each casino looking for the top sportsbook, the competition will be fierce. However, this is good news for Colorado sports bettors wanting to have the best experience possible.
Each major sport will be headlining the way these sportsbooks operate for this year as they look to attract customers. It would appear that the $2 billion in revenue estimate could easily be achieved.
If you are in Colorado, this is all good news and even better news should be coming your way. For a sports bettor in this area, you could potentially see one of the quickest rises in sports betting popularity and revenue among the top dogs of Nevada and even New Jersey.
The only reason it would not pass them is due to the population sizes of those two. However, this still makes for an interesting comparison.