DraftKings Sportsbook Colorado – 2020 Promo Code & Review
DraftKings Sportsbook was among the first wave of online sportsbooks to go live on May 1 2020, giving Centennial State bettors access to one of the most respected online sports betting operators in the game. Sports betting became legal in Colorado thanks to a 2019 law and ballot referendum that supported legalization.
In Colorado, DraftKings is partnered with Twin River Worldwide Holdings. Twin River acquired three Colorado casinos in early 2019, the Golden Gates, Golden Gulch, and Mardi Gras casinos, which are all located in Blackhawk, CO. The DraftKings license comes via the Mardi Gras Casino, where DraftKings will open a retail sportsbook. Twin River is also partnered with FanDuel Sportsbook in Colorado.
DraftKings Sportsbook bonus offer
DraftKings Sportsbook is offering new users a rather juicy two part sign-up bonus offer. New players can receive a first deposit bonus of 20 percent, up to $500, and a mistitled “risk-free” first bet worth up to $500 which is actually a matched bet, but we will get into that later.
DraftKings Sportsbook CO 2020 bonus
|DraftKings Sportsbook CO Promo Code||Just click this link|
|Deposit Bonus||$500 Free Bet + $500 Match|
|Code Valid||August 2020|
|Colorado partner||Twin River Holdings, via Mardi Gras Black Hawk|
Breaking down the bonuses
Risk-free bet: As it has in many other states, DraftKings is offering a “risk-free” first bet that can be worth up to $500. How the risk-free bet works is that DraftKings Sportsbook will give you a one time free bet equal to the amount of your first wager. Why we stated that it is actually a “match bet” is because you receive the free bet win or lose, unlike other sites where you have to lose the first wager in order to receive a free bet.
Regarding the free bet awarded to the player: if you win that wager, you will receive the winning amount, but not also the stake (the amount wagered). For example, if your free bet(s) is for $500 and you bet that amount -110 odds and you win, you’ll receive $454.55 and not $954.55. In other words, the profit, not the stake plus the profit.
Deposit match: To receive the maximum matched bonus amount of $500, one would need to deposit $2,500 initially. From there, the bonus funds will be credited to one’s account but the funds will need to be unlocked via play-through requirements.
For every $25 wagered, $1 of bonus money is released. For bettors looking to receive the maximum bonus amount after depositing $2,500, the total amount wagered would need to be $12,500. That wager amount would need to be made over the first 90 days following the initial deposit. Although clearing the bonus may sound like a daunting task, you’d be surprised how quickly one’s wagering total adds up. That said, a 25x play-through is pretty steep.
What’s great about DraftKings Sportsbook?
- Tons of markets: Not only does DraftKings Sportsbook offer all of the major sports (NFL, NBA, MLB, and NHL), but it also has a whopping 85 soccer markets, 10 rugby leagues, darts, and much, much more. Furthermore, DK Sportsbook has you covered with depth the markets go, offering preseason wagering in the major sports along with a willingness to be the first to market when new sports leagues (like the XFL) pop up.
- DFS to sportsbook: Unlike competitors, DFS and sports betting accounts are connected at DraftKings, which makes things very convenient for the user. If you already have a DFS account with a balance, your sportsbook account will be available for immediate use.
- Deep selection of player props: With DK Sportsbook, player prop choices are far and wide, rivaling FanDuel for both most options and price.
Easy navigation: DraftKings’ sports betting platform, whether it’s via the website or mobile platform, is clean, intuitive, and offers a quality user experience.
- Supported platforms: The online site meshes well with both PCs and Macs, and the app can be downloaded for Android and iOs devices.
- Trust: The DraftKings brand has a well-earned reputation in the DFS world, and this has continued as they’ve gotten into the world of sports betting.
- Boosts and promos: If what DraftKings has done in New Jersey and other states is to be used as a bar of expectation for what to expect in Colorado, we can expect the many odds boosts and other promotions to be offered often.
What’s not so great?
- Support is via in-app email only, which means that there is no instant messaging and no toll-free number to call. To be fair, answers are usually supplied within two hours, but not always.
- The vig on moneylines for some sports is a little wider than at other sportsbooks. (but we have seen some improvements lately)
DraftKings promotions have long been a strong suit. As we’ve learned in other states where DraftKings is operational, promotions for DraftKings Sportsbook are also strong. Below are some of the commonly offered promotions:
- Free bets from Missions: Users can earn free bets by accomplishing missions that are proposed to a user. Each mission comes with a task or set of tasks that must be completed in order to earn a reward.
- Odds Boosts: These are, as the name suggests, odds boosts on certain wagers, offering users a much better price on the outcome than what is normally offered. Odds Boosts are great ways to boost a bankroll and gain a bit of an edge over the sportsbook, so pay attention when these are offered and take advantage of them.
- No-Brainer Bets: These are offered quite a bit and are also just as the name suggests, they’re no-brainer bets that are virtual locks to come in as winners. For example, a recent No-Brainer Bet was offered in Pennsylvania and New Jersey for the Philadelphia 76ers. The 76ers were getting +76 points on the spread in a game against the Los Angeles Lakers. That’s as much of a freebie as you’ll find in the betting world, which is why these are called No-Brainer Bets. With Colorado having the Denver Nuggets, Denver Broncos, Colorado Rockies, and Colorado Avalanche in the major sports, be on the lookout for these No-Brainer Bets from DraftKings Sportsbook.
- Parlay Insurance: This is when a portion of your bet – usually up to $25 or thereabouts – will be refunded in the event one leg of your parlay fails to hit. Sometimes you have to place a five-leg parlay for this type of insurance, but it’s always good to have insurance.
- Referral Bonus: DraftKings Sportsbook has offered Refer-a-Friend bonuses in other regions for roughly $50, and the site could certainly do the same in Colorado. Referrals often come in the form of free bets, so be on the lookout for these.
- Deposit Bonuses: Just like the first-deposit bonus, be on the lookout for various other deposit bonuses that may be offered to existing players.
The DraftKings Missions program, which is discussed above, is a way to get free bets, promotional offers, and sometimes Odds Boosts. There are no set rules when it comes to which users get what offers, but it is believed that the more you play, the more you can expect to be offered.
DraftKings web-based platform snapshot
The DraftKings Sportsbook home page has the look and feel of the DraftKings daily fantasy sports portal, with the same fonts and same colors. It’s relatively straightforward, simple design as compared to other sportsbook websites. There’s not a ton going on despite how much information is available, but there is beauty in the simplicity.
On the first view of the desktop client, you’ll often see live in-game wagers presented first, with menu items at the top of the page that can allow one to navigate around the portal. On the right, users can find bet slip information. Login in and account information can be seen in the upper right.
Getting a little more detailed, the top of the page offers tabs to “my bets” (a list of both open and settled bets you’ve made), “live in-game” (which takes you to action happening right this moment), Rewards (which list any rewards, such as free bets, you may have), and “Help.” Depending on future legalities, you may also see “Flash Bet,” “Pools,” and “Casino” options.
Below those menu items are sub-menu items for individual sports as well as the days’ “odds boosts,” which offer increased odds for a handful of events. Below that are the current promotions, and below that are the live events.
All in all, the desktop website is simple and intuitive.
DraftKings app snapshot
The app is not all that different, philosophically, from the desktop version. It’s laid out differently but has the same color scheme and overall feel and flow. One key difference is live bets are usually not the main feature of the app’s first page. Instead, the day’s top events are usually listed.
Looking at the app layout, promotions are across the top, followed by individual tabs for each sport. This is also where the odds boost tab lives. Users can swipe to move the menu bar, although swipe sensitivity is something that could be improved upon, as you sometimes end up swiping too far down or not far enough.
The top games of the day are presented below, with more tabs to the same sports and odds boosts listed above. Once you get through and decide to click on a bet, the bet does not automatically go in your bet slip. You need to either place the bet immediately or click the “add more” for the bet to sit in your bet slip.
Again, the app is very simple and easy to use. There are no bells and whistles, just a professional-looking, intuitive, user-friendly app.
Banking at DraftKings Sportsbook
DraftKings offers numerous deposit options,.including:
- Online banking transfer (using your bank login credentials)
- Play+ Card
- Wire transfer
- Cash deposits expected to be allowed at Golden Gulch Casino and Mardi Gras Casinos in Black Hawk (DK’s partners)
Minimum deposits are just $5 and the maximum deposit is $2,500, though you can request a higher limit.
Withdrawal options, however, are more limited. Methods include:
- ACH eCheck
- Paper check by mail
- Cash in person at the Golden Gulch Casino and Mardi Gras Casinos in Black Hawk
Betting lines at DraftKings online sportsbook
As referenced earlier, moneyline markets are slightly worse than the industry norm for many sports, though it is worth noting that this past NFL season saw moneylines more in line with other sportsbooks. A true test will come with baseball season, as in the past the run lines were generally unfavorable compared to the Las Vegas bookmakers.
For the average DraftKings bettor, however, it’s not all that big a deal, especially as more online sportsbooks set up shop in Colorado. We always recommend shopping for lines, as there’s bound to be differences in many markets. Furthermore, the more legal online sportsbooks that open up shop, the greater the competition to best serve customers.
Interestingly, NBA and NFL spread bets sometimes are not a standard -110 both ways, or even +100 and -120. They often range from -107 to -114. Obviously, the -107s of the world are better than the -110s, while the -114 are worse. All in all, there’s often an extra cent or two added to the vig.
Player props present some interesting opportunities, as it’s been noted by our team that DraftKings is more apt to offer lower odds at a lower number than other sportsbooks. For instance, in a recent San Antonio Spurs game, DraftKings was offering the -143 odds of DeMar DeRozan to get over 5.5 assists. Other sites had the over/under at 6.5, with +100 to +107 odds. This happens with some regularity at DraftKings, allowing for lower return on investment but with a lower bar to surpass.
Other markets ebb and flow. Sometimes DraftKings offers a better number, sometimes other sites do. Have we mentioned you should line shop yet? We have? Great. Line shop.
Key markets offered at DraftKings
DraftKings offers markets in tons of sports from all over the world. While not as robust as some long-time international bookmakers, the scope of DraftKings Sportsbook’s offerings leaves little to be desired. Here is the listing of all the markets currently offered.
- Australian Rules Football
- Rugby Union
Game selection & bet types
If DraftKings is offering a game, chances are there are going to be dozens, if not hundreds, of ways to wager on it. Starting from simple point spreads, moneylines, and over/unders, to player props, live betting, and more.
- Point spreads
- Live, in-game betting
- Totals (over/under)
- Quarter, halves, period, and innings bets
- Team props
- Player props
Take a typical NBA game, for example. Point spread, over/under, and moneyline are just the tip of the iceberg. There’s alternate point spreads, alternate over/unders, and player props such as the first basket scored to point, assist, and rebound over/unders. Do you think Nikola Jokic is a lock for a double-double? You can bet that.
You can wager on the halftime and second-half outcomes. You can wager on individual quarters. There are game parlays, and once the game starts, you can place live bets across a variety of wagers. Then, of course, there are team futures, player futures, and betting on the upcoming draft. Really, the list is mind-numbingly long.
In play wagering is an exciting feature where you can bet on games as the action unfolds. When the game starts, the fun begins as you can bet on all your standard bets like moneyline, over/under and spreads, with constantly updating lines. What makes this exciting for action bettors is you can bet not only on the final outcome, but every inning, every down and sometimes all the way down to every pitch in baseball or every possession in basketball.
Flash Bets are popular and getting more so. For those of us truly in tune with the winds of chance, Flash Bets are a way to capitalize on the minute-by-minute, second-by-second changes in the flow of a game or match. Think of Flash Bets as ingame betting on steroids. Choose your bet size, and Flash bets allow for one touch betting on select markets. For instance, if you are watching the Rockies, and choose your flash bet size of $1, it takes only one tap on the screen to bet if the next pitch will be a strike or a ball.
Cash Out feature
A handful of other sportsbooks are offering it now, but DraftKings pioneered the “Cash Out” feature. The concept is fairly simple to understand. For many markets, DraftKings will allow you to cash out your winnings (or cut your potential losses) as a competition progresses and before it is complete. Part day trading, part Howie Mandel going to the banker on “Deal or No Deal,” the Cash Out feature is a tool that a savvy bettor can use to his or her advantage. Cashout amounts are based on the ingame odds, so if your +100 bet is now -500, your cashout will be higher than original bet, and you can lock in the profit. If your +100 bet is now +300, and you dont see anyway your team can come back, your cashout amount will be lower than the original bet but the cashout feature can be used to cut your losses.
An area that could use some improvement, customer support for DraftKings has been known to lag behind most other sportsbooks. There are three ways to seek help. One is through the DraftKings in-house messaging portal, where response time has varied from about an hour to 24 hours. Another option is by emailing customer support at [email protected] There is also the option of standard mail.
There is no toll-free number on the Contact Us page and there doesn’t appear to be a way to get immediate help should the need arise. It would be nice if DraftKings could address this going forward, as numerous online sportsbooks offer both a toll-free number and instant messaging through their app.
More about DraftKings
DraftKings began operations in 2012, and the company’s goal from day one was to dominate the daily fantasy sports (DFS) landscape, a burgeoning world in which DraftKings’ main competitors at that time were FanDuel and DraftStreet. Within two years, DraftKings had purchased DraftStreet and the race was on with FanDuel for dominance in the DFS world.
Both DraftKings and FanDuel began raising money, securing partnerships, and going toe-to-toe in an all-out ad blitz in an attempt to gain market share. In the midst of all this, state legislatures got involved, attempting to determine the legality of DFS, with the key legal question being if these were games of skill or games of chance. Many state legislatures eventually created laws either allowing or outlawing DFS.
By 2017, the two rivals announced a merger, one that was subsequently struck down by the Federal Trade Commission, which ruled the merger would create a monopoly in the industry. In 2018, the world of sports in America changed forever when the United States Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), essentially making sports betting a states’ rights decision.
DraftKings was the first mobile sports betting operation to go live in the US when it did so on August 6, 2018, with its launch in New Jersey. The launch came only a couple months after the U.S. Supreme Court decision to overturn the Professional and Amateur Sports Protection Act (PASPA) in May 2018, which gave states the right to legalize sports betting on their own. Since then, DraftKings Sportsbook has grown into a market leader and expanded operations to several other states in addition to NJ, including West Virginia, Indiana, Pennsylvania, New Hampshire, and Iowa.
- DraftKings Sportsbook bonus offer
- What’s great about DraftKings Sportsbook?
- DraftKings promotions
- Loyalty program
- Software platforms
- DraftKings app snapshot
- Banking at DraftKings Sportsbook
- Betting lines at DraftKings online sportsbook
- Key markets offered at DraftKings
- Game selection & bet types
- Customer support
- More about DraftKings