The fact Colorado is the smallest US state with four major professional teams tells you all you need to know about the state’s relationship with sports.

That interest is set to intensify now The Centennial State has joined the rank of states to officially legalize online sports gambling.

Colorado becomes state number 18 to legalize sports betting

A closer than anticipated referendum - it’s believed there were only 40,000 votes in it - ruled in favor of regulated sports betting in Colorado during Fall 2019.

In doing so Colorado becomes the 19th state to introduce a legal market since the U.S Supreme Court struck down the federal law prohibiting anyone, other than Nevada, to offer legal wagering on sports.

However, this doesn’t mean the industry is yet live; the earliest launch date is May 1, 2020.

Playoffs depending, you could be betting on the Avalanche and Nuggets sooner than you think. Betting on the Rockies during the regular baseball season is almost certain.

Between now and then, there’s still some work to do. The Colorado Division of Gaming is looking into regulations in Iowa, Mississippi, New Jersey and Nevada to ascertain what works and what doesn’t. Once this has been determined, a framework will be drawn up.

First things first, there will be online mobile betting in Colorado.

Wagering through a mobile device will be possible, providing you are within state borders at the time bet is placed.

There has been no confirmation from The Colorado Division of Gaming, the industry regulators, regarding an official launch date. But should all go to plan, Coloradans will be able to bet on their favorite sports from May 1, 2020.

FanDuel and PointsBet will be among the first names to make a splash in CO

We already know FanDuel and PointsBet will be among the first names to make a splash in CO. DFS giants, FanDuel, have yet to confirm which land-based casino they will partner with.

But PointsBet, who expanded operations and opened a second HQ in Denver during summer 2019, will operate under the license of Double Eagle Casino & Hotel. The Australian sports betting pioneers seem intent becoming the sportsbook for locals and thus have made their move early.

As one of the first western states to launch an unrestricted marketplace expect a host of other big names including 888, Bet 365, PlaySugarHouse, Caesars Sportsbook, William Hill, FOX Bet, and DraftKings to join a highly competitive market likened to New Jersey and expected to generate as much as $275 million.

There will be three types of sports betting license available:

• a master license (for existing casino properties),
• a sports betting operator license (brick-and-mortar partners)
• an internet sports betting license.

Every one of the 33 casinos across Colorado can apply for a sports betting license with each casino eligible to offer one skin (brand) per license.

Operators with an internet license will be tied to an existing casino licensee through a master license; Cripple Creek, Black Hawk, and Central City casinos are the only three casinos able to apply for such.

Technically, all 33 casinos could offer legal sports betting. Not every casino will view the expansion a viable option however; it’s thought the market, at least initially, will comprise up to 12 sportsbooks.

As mentioned, the Colorado sports betting bill will allow wagering via a mobile device. It will be possible for Colorado residents to open an account, place bets and receive winnings anywhere within state borders. In-person betting will also be available.

Compared to the 36% tax on sports betting revenue in PA, the 10% sportsbook operators will be required to pay in CO is, you have to say, reasonable and will attract many big gambling companies.

The money made from Colorado sports betting will help fund the Colorado Water Plan, designed to help protect the state from future water shortages estimated to cost $100 million per year. The levy will also be used to implement gambling programs.

A combination of the flexible regulations and a relatively low tax rate will see the majority of the big names flock to Colorado, a state mad for its sports teams.

While news of exactly who will arrive in CO is thin on the ground right now, it’s expected most of the big names to feature. FanDuel and Pointsbet have already shown their hand. And as we know, wherever FanDuel is, DraftKings is never too far away. Inevitably, the two DFS giants will carry their rivalry into a fifth state.

Here’s who else will likely show up in the Rocky Mountains:

• 888
• PlaySugarHouse
• Caesars Sportsbooks
• William Hill
• FOX Bet

While some areas of Colorado sports betting remain open to question, we can be sure about one thing: there will be a full selection of wagers available when it comes to online betting in Colorado.

These include:

• Moneyline - Bet on the winner of a game
• Totals - Bet whether the number of points/goals scored is over/under the line set
• Parlays - Combine two or more individual bets into a parlay. A wager that is harder to win but brings high rewards.
• Teasers - A parlay type bet which also includes spreads. Brings more wins with less reward.
• Props - Bet on events within a game, rather than the result, i.e. number of points a player scores
• Futures - Wager on the overall winner of an event/competition
• In-play - Bet as the game is unfolding in a range of markets, e.g. next team to score a TD
• Spreads - Bring more value between game featuring two teams of contrasting ability. A point spread applies to Football and Basketball while a Puck Line is the Hockey version of a spread. The favorite is assigned a handicap that must be overcome to win the bet. The underdog must preserve the point/goal difference, or win the game outright, for a wager to win.

Colorado has a major professional team in the ‘big 4’ sports, a remarkable fact considering The Centennial State is home to a moderate 5.6 million residents.

• Denver Broncos (NFL)

Three-time Super Bowl Champions, the Broncos, turn out at the Empower Field at Mile High and are regarded as one of the NFL’s most successful teams.

• Denver Nuggets (NBA)

Originally the Larks, then The Rockets and finally The Nuggets, there has been some success for the state’s NBA representative including ten successive playoff appearances between 2004 and 2013. A first Championship continues to elude them, however.

• Colorado Rockies (MLB)

A run of 14 wins from the last 15 games earned the Rockies their first (and only) NL pennant in 2007 and a place in the World Series, to date, their only appearance in the showpiece event.

• Colorado Avalanche (NHL)

Founded in 1972 as the Quebec Nordiques, the franchise has made two Stanley Cup Final appearances and won both (1996 and 2001). The home arena is the Pepsi Center which is shared with NBA side, Denver Nuggets.

Let's not forget the state's soccer rep...

• Colorado Rapids (MLS)

Having only begun in 1997 as one of the charter clubs in the MLS, the state’s soccer representative has enjoyed success in recent times by winning a first-ever MLS Cup in 2010.

Or, the state's college teams who receive a tremendous level of support across a number of sports.

• University of Colorado Buffaloes
• Colorado College Tigers
• Colorado State University Rams
• University of Denver Pioneers

It seems the desire for sports gambling has always been apparent in the Centennial State.

Following the blanket ban on gambling in the US, the industry began to slowly make its way back around the time of the Great Depression. In CO, limited forms of gambling were legalized and introduced in bars during the 1930s.

But it wasn’t until 1991 when the state decided upon setting foot into casino gambling. Three casinos were built in three historical towns by way of trying to regenerate the historic sites and raise money through taxes.

While legal gambling began to take hold, the Professional and Amateur Sports Protection Act (PASPA) which banned sports betting anywhere in the states other than Nevada, put pay to any expansion plans.

However, not to be deterred, and perhaps with half an eye on New Jersey’s momentum toward legalizing sports betting, Colorado did broaden its gambling offering by legalizing Daily Fantasy Sports in 2016.

Following the decision of the Supreme Court to lift the federal ban (PASPA) on sports betting, it was always going to be a matter of when, not if, Colorado would look to make sports betting legal. A referendum in November 2019 saw residents pass Colorado Proposition DD and authorize the bill.