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DraftKings Sportsbook Colorado Launches with CO Online Sports Betting
1st May, 17:16Colorado online sports betting officially launched Friday and with it came the unveiling of DraftKings Sportsbook Colorado. DraftKings is one of four online sportsbook operators accepting wagers in the earliest phase of the state's rollout.
New users can sign up for DraftKings Sportsbook here and get a $1,000 signup bonus.
The vast majority of the sports world remains at a standstill as pro leagues around the globe continue to gauge possible plans for resuming action in the wake the coronavirus pandemic. That complication didn't stop Colorado, as the state moved ahead with its initial plans for a May 1 launch.
Proposition DD passed in Colorado's general election last November, allowing both for retail and online sports betting were in the state. But with strict precautions in place to slow the spread of COVID-19, only online offerings are available as originally planned.
Despite the dearth of traditional action to wager on (darts, table tennis, UFC, and the Korean Baseball League action is available), operators such as DraftKings Sportsbook Colorado are hoping that being among the first to the party will help create an advantage in what will be a wildly competitive market. As many as 17 different entrants could be in operation by year's end.
DraftKings Sportsbook and top competitor FanDuel Sportsbook, which each entered the Colorado sports betting landscape through separate licensing deals with Twin Rivers Holdings, are enjoying tremendous early success in eastern states.
First-rate technology, competitive betting promos, and a wide range of wagering markets make such brands an appealing option for prospective bettors. Still, both DraftKings and FanDuel undoubtedly benefit in eastern states where sports fans have long flocked to its popular daily fantasy platforms.
Many industry experts believe that Colorado, the westernmost state in the United States to go live with legal online sports betting, will be a wide-open market.
For one, more sportsbook operators are prepared for Colorado's launch than they were for earlier states that previously went live following the Supreme Court's 2018 strike down of PASPA.
Moreover, the state's friendly 10% tax rate for sportsbook operators provides a breeding ground for competition.
Despite this competition, with up to $1,000 in free bets, creative promotions, and a top-notch app, DraftKings Sportsbook Colorado will be a major player in the state's sports betting industry.
Here is the good news for sports bettors stationed within Colorado's state lines. The aforementioned competition between what is expected to be more than a dozen online sportsbooks - including popular domestic brands and those that have experienced big success overseas - will breed competition.
That competition, in turn, means consumers will benefit from competitive bonus offers, bet boosts, and other specials. Moreover, sports bettors can shop for the best spreads, prices and payouts across multiple sportsbooks.
As for DraftKings Sportsbook Colorado, the easy-to-use app provides new players with a sizable $1,000 in free bets offer that is broken up into a $500 risk-free bet and a $500 deposit bonus.
A wide variety of sports betting options such as straight wagers, teasers, parlays, round robins and live in-game wagering are available. Players can also take advantage of daily odds boosts and other betting specials. In markets where DraftKings Sportsbook is already live, users routinely cash on wildly advantageous alternate lines and payout boosts.
Per a the January 2020 agreement with Twin Rivers, DraftKings Sportsbook will also open a retail spot at Black Hawk's Golden Mardi Gras Casino. Initially, the anticipated opening of the location was sometime later this year, but it remains to be seen if complications caused by the coronavirus will alter those plans.