With its majestic Rocky Mountains and a reputation for chilly winters, Colorado is a state that holds many attractions. Known for its array of outdoor activities such as skiing, hiking, and fishing, as well as its delicious cold beer, Colorado is a place that has something for everyone. However, in 2020, this state added another feather to its cap. With the legalization of sports betting, Colorado burst onto the gambling scene, quickly emerging as a major player.
Colorado's sports gambling market is dynamic, efficient, and player-centric. By creating a welcoming environment for both players and industry professionals alike, the state has successfully fostered a robust and thriving sports betting market. This move by the state towards embracing sports gambling has truly changed the game.
Colorado's two biggest cities, Denver and Colorado Springs, with populations of approximately 700,000 and 480,000 respectively, have played a significant role in this transformation. With this high concentration of potential players, it's no surprise that Colorado's sports betting scene has flourished so quickly.
Denver, in particular, is a major hub for sports in the state. Home to all four major professional sports teams - the Denver Broncos of the NFL, the Denver Nuggets of the NBA, the Colorado Rockies of MLB, and the Colorado Avalanche of the NHL - Denver is a city that is passionate about sports. This passion extends to the collegiate level as well, with the University of Colorado, Colorado State University, Northern Colorado University, University of Denver, and the Air Force Academy all being Division 1 programs.
While the Centennial State might be more widely recognized for its natural beauty, recreational activities, and a certain frosty beverage, it's undeniable that Colorado is making its mark in the sports gambling industry. Though it may have been underestimated initially, it has now become abundantly clear that Colorado has the potential to significantly influence any market it chooses to venture into. As the state continues to innovate and expand its sports gambling industry, it's clear that Colorado's influence in the gambling sector is just beginning to be felt.
Yes, gambling, specifically sports betting, is legal in the state of Colorado. This came into effect following the passage of Proposition DD in November of 2019, which paved the way for the legalization of sports betting. This came about when Bill 1327 was signed into law, marking a significant change in the state's stance on gambling.
Following this, Colorado took active steps to become a pioneer in the realm of sports betting. The state launched mobile betting platforms as well as their first physical betting locations on May 1, 2020. The availability of mobile operators made it convenient for residents to place bets on their favorite sports events from anywhere within the state. As of now, Colorado boasts roughly 25 mobile operators, showing the state's commitment to this industry.
In addition to online platforms, Colorado also established 17 operational brick-and-mortar casinos where sports enthusiasts can place bets. These physical locations provide residents with a traditional betting experience, reinforcing the state's dedication to offering diverse gambling options.
Moreover, Colorado became the first state in the US to establish a partnership with a National Football League (NFL) team for sports betting. The Denver Broncos and FanDuel, a popular sports betting platform, entered into an affiliate partnership, thereby setting a precedent for other states and sports teams to follow.
However, it is important to note that while sports betting is legal, the state of Colorado currently does not allow real money casino gambling. This means that residents and visitors cannot participate in traditional casino games like slots, poker, or blackjack for real money in Colorado. It remains to be seen if this aspect of gambling will be legalized in the future.