Colorado First Deposit Bonuses and Risk Free Bets

The best thing about Colorado’s large and growing sports betting market is that because there are so many sportsbooks competing for your business, almost all of them are offering you bonus incentives to sign up and start making wagers.

Types of Online Sportsbook Bonus Offers

Colorado sports bettors will find three different types of bonus offers. There are sign-up bonuses which put money into your account upon registration. There are deposit match bonuses, which add money to your account based on how much you put in with your initial deposit. And there are risk-free bets, which will award you a second bet in the same amount should your first bet lose.

Best Bonus Offers at Colorado Sportsbooks

DraftKings: Up to $1,000 in deposit match bonuses plus a free $50 bet upon registration.

BetMGM: Risk-free bet bonus of up to $600. There is also a deposit match bonus of up to $500. 100% deposit match up to $150 and $500 in risk-free betting credits.

BetRivers: $250 deposit match at 100% with an easy-to-hit playthrough requirement of just one time.

WilliamHill: New accounts can place an initial risk-free bet of up to $500.

FanDuel: New customers qualify for a risk-free bet of up to $1,000.

Betfred: Open a new account and qualify for a risk-free bet from between $10 and $500.

PointsBet: Up to $500 in a risk-free bet for your fixed-odds wager plus $1,500 in a risk-free bet for your first PointsBetting wager – a bet that pays more or less depending on your margin of victory.

BetWildwood: Offering a 200% deposit match bonus on initial deposits of up to $100.

WynnBet: A first-time risk-free bet of between $10 and $500 within the first ten days of registration.

theScore Bet: Offering a deposit match bonus of 100% for initial deposits of up to $1,000, plus a risk-free first bet of up to $500.

FOX Bet: New customers can place a $500 risk-free bet within the first 30 days of registering for their account.

Betway: Deposit match bonus of 100% of up to $1,000 plus a free bet of up to $30.

How Bonus Offers Work

It’s important to note that none of the above offers are cash offers. This isn’t money that is added to your account that you can withdraw, but rather this is money in the form of betting credits.

In order to eventually turn the bonus offer into cash, all bonuses must be wagered. Often this requires wager amounts of up to five times the amount of the bonus – meaning that a $1,000 bonus will require $5,000 in total wagers before you can withdraw the bonus amount.

This is called a playthrough requirement, and it’s why the sportsbooks are willing to offer the bonus. But in some cases, the playthrough is easy to fulfill, making it a good deal for the customer.

Risk-free bets are similar in that if you lose your risk-free bet, you are awarded betting credits in the amount of the bet and not in the form of cash that can immediately be withdrawn. Once you place the second bet, however, all winning are yours to keep.