Free CO Bets | Colorado Sportsbook Promos & Bonus Codes | How To Bet

Free Colorado Bets: Online Bonuses and Promo Codes from Casinos & Sportsbooks

For gaming in an online casino or online sportsbook Colorado is constantly becoming a more and more attractive option. Since legal sports betting first went live in the Centennial State in May of 2020, the online sportsbook market has exploded. Already a casino-friendly environment with more than 30 casinos located in the state, Colorado sportsbooks have been opening at an incredible rate, with more than a dozen solid options now available online. Similarly, the number of Colorado free bets that customers can find and profit from has also exploded.

Even more, operators are expected to join the fray and offer their own free bets and bonuses as more sportsbooks and area casinos create sports betting partnerships

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When looking to place some Colorado bets, you will be shown a lot of different offers and sites to wager in. This can be very overwhelming to new bettors and even our veterans in this field. In this guide, we will show you the best promos from any sportsbook Colorado has in offer now and how to take full advantage of them. 

  • Where to bet it
  • Which offers to choose
  • How to bet it

Benefit from Free Colorado Bets, Promos and Bonus Codes

Learn how to benefit from free bets and promo codes in Colorado
Learn how to benefit from free bets and promo codes in Colorado

With the vast amounts of deals being offered to you, particularly as a new bettor, it can be very difficult to make a choice. No offers are made the same, each come with their own sets of T&Cs and general fine print that can make or break the proposition. 

This is why it is very important to understand the offer that you are using for your Colorado bets and the benefits/drawbacks that come with it. Most of the new customer free bets or free bet offers, in general, are one time only. Keep this in mind. 

Top 10 Free Colorado Bets and Bonus Code Offers

MaximBet

MaximBet, who are majority owned by Malta-based gambling company Carousel Group, have recently launched in Colorado. With this, they are offering new bettors up to $1000!

This comes in the form of a Colorado deposit match bonus. You can earn up to $1000 in your first 4 weeks as a customer! 

  • First week: 100% deposit bonus up to $500 
  • Second week: 100% deposit bonus up to $250
  • Third week: 100% deposit bonus up to $125
  • Fourth week: 100% deposit bonus up to $125 with a 1X rollover.

If you have already signed up and started betting with MaximBet in Colorado, bad luck! This offer is exclusive to new bettors. 

BetMGM Sportsbook

BetMGM sportsbook offers new customers a very handsome welcome bonus. Every newcomer will be offered a risk-free bet of up to $600. 

After you deposit the amount you would like to wager, you simply place your bet and, after it's settled, you will be granted the amount back in free bets! Simple, right? BetMGM also offers lots of daily odds boosts which can help you maximise your profits from this offer. Keep your eyes peeled…

Betway Sportsbook 

Betway is an online betting company who has been running for 15 years! They launched in Colorado back in May 2020 and since then have been offering some of the best promos for new bettors in the business. 

Unfortunately, they do not offer free bets without a deposit needed unlike some sportsbooks, but they do have a nice match offer for bettors who are willing to part with some cash. 

On your first deposit of more than $20, you will be completely matched in free bets up to $250. The same applies for the second wager of $20+ and the third wager of $20+ will be matched up to $500! A total of $1000 is up for grabs in free bets with Betway in Colorado. 

Fanduel Sportsbook

Another DFS provider that has transitioned to a full-scale sportsbook, FanDuel is partnered with the Golden Gates Casino in Black Hawk, Colorado, are also offering $1000 to new bettors in Colorado, but in a different format to that of Betway. They are offering a risk free bet of up to $1000. Here is how to claim it:

  • Deposit up to $1000 into your FanDuel
  • Claim the offer with the ‘Claim Now’ option
  • Place a bet of up to $1000 on a sporting event of your choice

If the bet loses, you will be credited with the amount you wagered, up to $1000, in betting vouchers. You can then use this money to place any bet and the payout from this, will be withdrawable to your Colorado bank account.

PointsBet

PointsBet is an Australian based sportsbook who has been running here in the United States since 2019. When you register with PointsBet, they will offer you a handsome bonus! 

This one is a tiered deposit bonus: Deposit $50, Bet With $150, Deposit $150, Bet With $300, Deposit $250, Bet With $500. The more you deposit, the more bonus betting cash you receive. Use promo code ‘HOWTOBET’ to claim this Colorado offer.

PointsBet also offers a means of wagering called PointsBetting, which multiplies the amount of your winnings or losses by the number of points you either win or lose your bet. If you are giving 5 points and your team wins by 7 points, your winnings are doubled, as an example. 

BetRivers Sportsbook

BetRivers launched their sportsbook in the Centennial State in May 2020 and haven’t looked back. They are one of the leading companies for online gaming in the USA. Since their Colorado launch, they have had consistent welcome bonuses that are very enticing for new bettors. 

The offer that they currently have available in Colorado is a $250 match bet offer. If you deposit up to $250 you will receive the amount you deposit back in bonus money. There is a 1X play-through requirement with this offer, meaning you must bet the funds once before you can withdraw. 

To claim this offer, use code ‘250MATCH’ at checkout!

WynnBet Sportsbook

WynnBet, a New Jersey based sportsbook which launched in 2020, is offering new Colorado bettors a fine welcome bonus in the form of a $500 risk free bet.

In order to claim this offer, you must deposit a minimum of $20 and place a sports wager within the next 10 days after making the deposit. This way you will receive the Risk Free Sports Bet on eligible sports. This offer can only be claimed once per person. 

Caesars Sportsbook

In August 2021, William Hill was officially rebranded into Caesars Sportsbook in the USA. The company Caesars Entertainment acquired William Hill for a whopping $2.9bn. 

When you register with Caesars sportsbook in Colorado, you are entitled to a risk free bet up to $5000! All you have to do is enter the free William Hill cash codes: “HOWTOBETRF” the next bet you place will be the promo bet, so use it wisely… 

If you are a new bettor looking to get involved with some Colorado bets, definitely look to make use of the free William Hill cash codes on offer. You will not regret it!

FoxBet

FoxBet have recently launched their mobile sportsbook app in Michigan, NJ, PA and most importantly Colorado. Some of the best free mobile bet no deposit required offers are available here.

Fox Bet is giving new bettors a risk-free bet and a deposit bonus for up to $500 in new player bonuses. These can be claimed via their mobile app, as previously mentioned, or the website. The offer does not involve the use of a physical Fox Sports bet bonus code but rather just following this link! (link to foxbet offer)

DraftKings

Last but by no means least, DraftKings sportsbook will offer new Colorado bettors a 20% match up to $1000 on their first wager with them. This means you can make a $1000 bet for the price of an $800 bet. If you are a high-roller who spends big money on betting and haven’t yet checked out DraftKings, we suggest you do. 

Our novice froogle bettors will most certainly be better off with another offer. For example PointsBet.

Why Do Operators Give Colorado Free Bets and Bonuses

Since the U.S. Supreme Court removed the federal government’s shackles restricting the sports betting laws that each state could pass, the legalization wave sweeping across the country has made each legal market hyper-competitive. That means that you, the customer, have a variety of sportsbook options.

In order to capture your business, it has become standard to try and woo you with free money. And the more money offered, and the easier it is to use, the more the wooing works. So never sign up for a sportsbook and make your first deposit until you fully research all of the Colorado free bets and bonuses that are available. And there are a lot of those that you can take advantage of. Because of that, for online gambling USA is undoubtedly more attractive with the presence of the Centennial State.

Colorado Online Casino Bonus Types and How They Work

Learn all about the different types of Colorado free bets and bonuses
Learn all about the different types of Colorado free bets and bonuses

Not all sportsbooks propose the same bonus offers, and not all bonus offers are the same. Some of them will appeal to the casual sports bettor, while others will target the high-roller who has a big bankroll and the desire to take more risks. 

Make sure to read through the T&Cs carefully every time you want to make use of a Colorado online casino bonus. Whether you are a veteran bettor or a novice. 

Free Colorado Bets

These are some of the best Colorado sportsbook promos available, even though they typically aren’t for a lot of money. What makes them valuable is that they are the same as free money. You get to make a bet on the sportsbook’s dime, and if you win, you get to keep the profits. Definitely look out for them. There are two main types of free Colorado bets, these being: 

  • No Deposit Free Bets
  • Deposit Match Bets 

No Deposit Free Bets 

Free bet no deposit bonus offers are the most simple and effective type. Just sign up for a new account, and the betting credits will be added to your account. You won’t get to keep the original stake, but you also don’t have to use your own money as the original stake either. 

It’s a gift from the sportsbook that you can turn into a healthy profit. Check out our betting guides here at HowToBet to learn some techniques and strategies. They will show you the best ways to be profitable and make the most of free mobile bet no deposit bonus required promotions.

Deposit Match Bets

Deposit match bets are a little less tempting for those who only want to test the waters with Colorado bets and do not want to part with any of their precious capital. Here is how they work:

  • First deposit an amount that qualifies, usually a minimum of $10. 
  • Then place bets using that money.
  • Use up the deposited amount and wait for the bets to settle.

You will be given the amount you deposited back in the form of betting tokens to be used on the selected Colorado sportsbook. The profits you make from the tokens are yours to keep and can be withdrawn directly into your bank account. If used correctly these can be one of the best Colorado sportsbook promos.

Matched Free Betting

Matched free betting is a technique that allows you to make foolproof money. This is done by taking advantage of the Colorado online casino no deposit bonus free bets that are available. The process is fairly simple. 

  • Register an account with Colorado sportsbook that offers a completely free bet.
  • Use the bet to cover all outcomes. For example, bet on both sides of the moneyline on a football game.
  • One of the bets will win and you will get cash that is withdrawable.

A quick and easy method to grab yourself a quick buck with no risks. 

Risk Free Colorado Bets

See what risk free Colorado bets are
See what risk-free Colorado bets are

There are two main differences between free Colorado bets and risk-free Colorado bets. The first is that a free bet is done with the sportsbook’s money, while a risk-free bet is done with your own money. It’s just guaranteed by the book but not funded.

The other difference is the value. A free bet is typical $20 or less since it is with free money. A risk-free bet, on the other hand, can be as high as $500 and even $1,000 in some cases. And if that risk-free bet loses, you will be given a betting credit in the amount of the lost bet. 

Sign-Up Bonus

Similar to a new account free bet, the amount of money involved in a sign-up bonus is typically small. Often, like a free bet, no deposit is required, nor does a special bet need to be placed.

But in terms of how you can use a sign-up bonus vs. a free bet, they are completely different. A free bet is exactly that: it is a credit that must be wagered. Often though, a sign-up bonus is just straight-up cash that is yours to withdraw without ever having to wager it.

Colorado Online Casino No Deposit Bonus

A Colorado online casino no deposit free bet sign-up bonus is essentially free money. Some online casinos in the Centennial State offer no deposit bonuses for new customers. The term ‘no deposit’ means that you do not have to part with any precious cash.

Deposit Bonus

This is where you can make the most bonus money. With a deposit match bonus, the sportsbook will add money to your account based on the amount that you put in during your initial deposit. It can be as low as $100 and as high as $1,000, and the matching amount is anywhere from 20% to 100%.

The money doesn’t become yours automatically. You must fulfill a betting requirement to unlock it as cash. With the more generous sportsbooks though, this requirement can be as low as betting the total amount just one time.

Bet & Get Bonus

A bet and get bonus is where you can basically place a bet with a lifeline. You will be required to make a deposit and place a wager using your own money. After you have placed the bet, you will receive a bonus that is usually in the region of the amount that you originally deposited. Of course, this all depends on which sportsbook bonus Colorado you go with. 

Odds Boost

Understanding the odds boost from CO sportsbooks
Understanding the odds boost from CO sportsbooks

The concept of an odds boost is very simple. The sportsbook will boost the odds for a given line or set bet to entice the bettor to place that bet. There are two main ways that an odds boost can be implemented:

  • User based odds boost
  • Sportsbook set odds boost

Colorado Sportsbook: Odds Boost

Some Colorado sportsbooks will offer an odds boost on an event. For example, let's imagine that we’re in the NBA finals season and the Lakers are versus the Bucks. 

The Bucks are three up and have the home-court advantage. The moneyline odds for the Bucks will most likely be something in the region of -120. But the sportsbook might boost these odds to +120. 

This gives the bettor a nice opportunity as the Bucks chances are still the same, but there is more money to be made from placing the bet.

An Odds Boost always moves the odds in the favor of the bettor. There are times where the odds are boosted enough that the sportsbook operator will actually forgo their entire house edge for a specific event.

Colorado User: Odds Boost

A user based odds boost is where the sportsbook has given you a bonus of say a 10% odds increase on any bet. This means you decide which odd you would like to increase and wager on. 

Odds boosts in Colorado are definitely something to look out for. They can make for some nice, unique opportunities.

VIP/ Loyalty Programs

See how to profit from VIP/Loyalty programs from CO online casinos and sportsbooks
See how to profit from VIP/Loyalty programs from CO online casinos and sportsbooks

VIP and loyalty programs are another brilliant way to get some extra juicy Colorado sportsbook bonuses. Yes, it may be tempting to use many different sportsbooks and casinos since registering a new account can see you gain massively with:

  • New customer free bets.
  • No deposit bonuses.
  • Deposit bonuses.

But staying with the same sportsbook and using it a lot is also a solid way to go about getting bonuses. Many CO sportsbooks offer different kinds of loyalty programs that reward you long term for sticking with one sportsbook. 

There are two main types of loyalty programs when it comes to online casinos. There is a tiered system and a flat structure system. The flat structure tends to be quite simple as you just have to hit the minimum requirements to reap the benefits.

A tiered system will reward gamblers differently, depending on the amount that they spend. Every new member will start at the lowest level. Once they hit a certain number of points, they are promoted to the next tier, which provides them access to extra perks and benefits. 

However, access to these perks is conditional (it’s always worth reading the small print). If the gambler starts to spend less, they may find themselves slipping down the tiers of the loyalty system and losing whatever additional benefits they’ve accrued.

Refer a Friend

The final type of casino bonus we will be discussing today is ‘Refer a Friend’. This is perhaps the most simple of them all. You can receive a referral code at any time and if someone signs up to the selected sportsbook with your referral code, you will both reap a small benefit.

So if you have a friend or family member who is eligible to register, definitely ask them to sign up using your code. Even if they never use the account, they are still doing their friend a favor. This is a crafty way for sportsbooks to pull in more customers and increase their player stats.

Who Can Claim Colorado Free Bets and Bonuses

Find out if you are eligible for Colorado free bets and bonuses
Find out if you are eligible for Colorado free bets and bonuses

Anyone who has a legal sports betting account in regulated operators is eligible to claim any Colorado sportsbook promos, free bets, or bonuses that are offered by a CO sportsbook.

To be legal to have an account, you need to be at least 21 years old and not work in the sports gaming industry. Pretty simple stuff, right?

To use that account, you must be inside the state lines, but you do not need to be a resident of the state. Just be physically within the borders of the Centennial State, and you can place wagers and cash in on free bets and make use of the Colorado online casino promo codes that we have mentioned.

CO Free Bets and Bonus Codes FAQ

Are taxes applied on sports betting bonuses?
+

Being awarded a free bet or deposit matching bonus money does not require that you pay taxes on that amount. But if that free bet turns into profits, then you will have to declare the amount of the winnings on your taxes.

The same rule applies to deposit bonuses. If you eventually turn that money into cash and then withdraw that money as winnings, it is taxable if the amount is above $600.

According to TurboTax, as long as you itemize your losses, those losses can then be deducted from all taxable winnings.

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