Colorado sports betting is a thriving ecosystem with new entrants emerging all the time. There are 16 live online sportsbooks in Colorado at the time of this writing, and over a dozen more sportsbook licenses up for grabs. The Colorado Limited Gaming Commission still has plenty of room to grow Colorado’s sportsbook industry, which got an impressive start out of the gate in its first months in business.

New FanDuel customers can receive a $1000 risk free bet after their first sportsbook deposit or up to a $500 bonus on fantasy with their first deposit. FanDuel offers daily fantasy contests for cash prizes & legal wagering on sports betting markets for all major sports. BizVibe’s largest sports gambling companies list is led by International Game Technology, generating USD 4.69 billion as the largest sports betting company in the world by revenue. The top 3 is then rounded out by GVC Holdings, and Bet365. THE BEST ESPORTS BETTING SITES. Esports betting is a rapidly growing market, but as both big traditional sportsbooks and newer startups are competing for space it can be a little difficult to.

Most of Colorado’s sportsbooks are either standalone companies or the result of casino partnerships. DraftKings, FanDuel, and William Hill are companies whose core businesses are sportsbooks. However, Colorado’s homegrown casinos want in on the red-hot sports betting industry, too. Many have either partnered with sportsbook companies or developed their own. BetMonarch is one such sportsbook app that’s wholly owned and developed by Monarch Casino. Another is Sky Ute SportsBook, the first tribal-run sportsbook to launch in the state.

Online sports betting has taken off like a rocket in Colorado. That may be because it’s the safest betting option in the social distancing age. However, Colorado’s online sportsbooks are competitive choices for bettors’ funds. Here’s everything bettors need to know about them.

**Some of the products featured here are from our partners who compensate us. This does not influence our evaluations. Our opinions are our own. All bonus and promotions have Terms & Conditions that apply. 21+ for legal online gambling sites. If you think you have a gambling problem, please call 1-800-522-4700.

The Best Colorado Sports Betting Sites & Bonus Offers

• William Hill >> Claim $500 Free Bet With $250 Deposit
• BetRivers >> Claim 100% Deposit Match Bonus Up To $250
• FanDuel Sportsbook >> Claim A $100 Risk-Free Bet
• PointsBet >> Claim $1500 In Two Risk-Free Bets With Bonus Code BIGBONUS
• DraftKings Sportsbook >> Claim 20% Deposit Match Bonus Up To $1000

Colorado Online Sports Betting Sites For December 2020

Pro sports got off to a late start this year due to the pandemic, and Colorado has mostly reopened since the March stay-at-home orders were rescinded. But even the lack of professional sports and the pandemic couldn’t deter Colorado from opening its first legal sportsbooks on May 1, or the bettors from flocking the newly launched sites and apps.

The launch of online sports betting in Colorado took some navigating, as officials grappled with the fallout from coronavirus. At the time of launch, there were few sports to bet on, but the market has done very well in the first months, even with bettors at first confined to wagering mostly on golf or table tennis. Here are the online sportsbooks who’ve secured partnerships in Colorado so far.

In addition to our top recommendations above, these are all of the sports betting apps in Colorado that are licensed, regulated in Colorado, and available for download:

The Best Colorado Online Sportsbooks (Ranked By Our Editors)

Best For New Bettors

$500 Free On $250 Deposit

Available On: Web, iOS, Android

Best For New Bettors

William Hill Colorado

4.7

An international sports betting brand, William Hill is taking its top-notch reputation to the US sports betting industry. Currently available in almost a dozen states, they offer all domestic and international sports odds. William Hill offers a $500 free bet to new bettors who deposit $250 or more.

William Hill Colorado

Bonus: 100% up to $500 on deposit

Retail Partner: Eldorado Resorts (Caesars Entertainment)

UK-headquartered William Hill is one of the biggest and most widely available sportsbooks in the US. Partnered locally with Eldorado Resorts (now Caesars Entertainment), William Hill kiosks have been available in Black Hawk since July, but the app didn’t launch until Sept. 8. New sign-ups can get up to a $500 risk-free bet with our exclusive link.

Best Mobile App

20% Deposit Bonus Up To $1000

Available On: Web, iOS, Android

Best Mobile App

DraftKings Colorado

4.9

DraftKings is one of the top US sports betting brands after making its name in the Daily Fantasy Sports industry. They offer one of the best mobile apps, with a easy-to-use interface. The interface makes it easy for new bettors to find sports, odds, and to place a bet. They offer a deposit bonus up to $1,000.

DraftKings Sportsbook Colorado

Bonus: 20% up to $1000 on deposit

Retail Partner: Mardi Gras Casino

DraftKings Sportsbook is one of the top US brands in sports betting, and it’s open for business for sports bettors in Colorado. Its variety of sports and lines are almost unmatched, and it offers some unique betting opportunities like teasers and parlays. It also has frequent bonuses and promotions.

Best Deposit Bonus

100% Deposit Bonus Up To $250

Available On: Web, iOS, Android

Best Deposit Bonus

BetRivers Colorado

4.7

BetRivers makes it easy to start betting in Colorado. New bettors can claim a 100% deposit match bonus up to $250 with only a 1x playthrough. This makes BetRivers Colorado the perfect choice for more casual bettors. For more experienced bettors, check out the BetRivers jackpot parlay bet.

BetRivers Colorado

Bonus: 100% up to $250 on deposit

Retail Partner: J.P. McGills

BetRivers is owned by Rush Street Interactive, which makes iGaming platforms in addition to its sportsbook offering. One of BetRivers’ differentiators is its extensive rewards system, which start at the basic level but top off at the “luxury” rewards for higher-tier wagers.

Best Betting Experience

$1000 Risk Free Bet Offer

Available On: Web, iOS, Android

Best Betting Experience

FanDuel Colorado

4.9

Much like DraftKings, FanDue Sportsbook made its name on Daily Fantasy Sports but now offers online sports betting across the US. The FanDuel Colorado app is one of the strongest in the state, with all major sports and some minor events as well. The interface is easy to understand the sportsbooks offers competitive odds.

Best Sports Betting Sites

FanDuel Sportsbook Colorado

Bonus: $1000 Risk-Free Bet

Retail Partner: Golden Gates Casino

Once known only for fantasy sports, FanDuel Sportsbook is all grown up, serving CO sports bettors 24 hours a day. FanDuel Sportsbooks has lines on MLB, NFL, NHL, and NBA, along with all kinds of other sports and events, both niche and mainstream. It has bets on the spread, the moneyline, halves and quarters of select games, and the over/under, and offers highly competitive odds in the CO sports betting landscape.

Best For Experienced Bettors

$1,500 In Two Risk Free Bets

Available On: Web, iOS, Android

Best For Experienced Bettors

PointsBet Colorado

4.9

Australian sports betting brand, PointsBet, is one of the newest sportsbooks to launch in Colorado. Offering competitive lines on US and international sports, PointsBet offers a high-risk, high-reward options for experienced bettors in their PointsBetting system.

PointsBet Colorado

Retail Partner: Double Eagle Casino

Australian-owned PointsBet is a mobile gaming partner of Double Eagle Casino in Cripple Creek. PointsBet was one of the first sports wagering companies to announce its intentions to operate in Colorado and was awarded an online license on March 19. They finally launched their online sportsbook app in November 2020.

PointsBet offers a unique winnings boost if your team wins big, called PointsBetting, offering multipliers for winning wagers based on the number of points a team wins a game. PointsBet also has a partnership with Koenke Sports & Entertainment to be the exclusive gaming partner of the Avalanche, Nuggets, Colorado Mammoth, and the Pepsi Center itself.

All Colorado Sports Betting Sites

SportsBetting.com

Bonus: $150 deposit bonus

Retail Partner: Carousel Group (Johnny Nolon’s, Cripple Creek)

SportsBetting.com gives new players up to $150 dollar deposit bonus. New users who deposit $10+ will get 100% bet credit up to $150 dollars using our exclusive link right here.

BetMGM

Bonus: $500 Deposit Bonus

Retail Partner: Midnight Rose

MGM is a premier name in gambling and entertainment, and its sports betting app BetMGM is available to CO sports bettors. BetMGM currently operates in Colorado, Indiana, New Jersey, and West Virginia.

BetMonarch

Retail Partner: Monarch Casino

Monarch Casino in Black Hawk launched BetMonarch in May 2020, the first fully in-house sportsbook in the state developed by a casino. It offers the sports and leagues you’d expect lines on, but it also has an advantage many other sportsbooks don’t: BetMonarch rewards points players accumulate through their play can earn free hotel stays, meals, and more.

FOX Bet

Retail Partner: Eldorado Resorts (Caesars Entertainment)

Fox Bet’s local gaming partner is the Lady Luck Casino in Black Hawk, owned by Eldorado Resorts, which recently acquired gaming giant Caesars Entertainment, as well as the Isle Casino. Fox Bet has some solid bonus offers, including a $1,000 sign-up bonus ($500 risk-free bet + 100% match bonus of up to $500). In addition to the standard slate of sports to bet on, Fox Bet offers a wide range of betting boost, which are riskier, but could be lucrative wagers for lucky bettors.

SBK Sportsbook

Retail Partner: Christmas Casino*

SBK Sportsbook by Smarkets has a different approach to setting odds from most sportsbooks. Rather than making its money tilting the odds in its favor, SBK charges a 2% commission on bettors’ net winnings. The odds are then created as a consensus is slowly reached among where bettors are putting their money. SBK is a bit light on welcome bonuses, but it does offer a refund of the first $20 in lost bets over multiple bets.

Sky Ute SportsBook

Retail Partner: Sky Ute Casino

The launch of Sky Ute SportsBook made a bit of history for Colorado sports betting as the first tribal-owned casino in the state to launch its own sportsbook. Being on tribal lands, Sky Ute isn’t beholden to Colorado state laws governing odds, so they say their lines are some of the best in the state. Bettors can fund an account and start betting with just $25.

Circa Sports

Retail Partner: Century Casinos

Circa Sports, a Las Vegas-based sports wagering operator, was the first partnership agreement struck by Century Casinos, which operates two eponymous casinos in Colorado, one in Black Hawk, the other in Cripple Creek. Circa Sports is partnered with the Cripple Creek location, so that’s where eventual Circa-branded kiosks and windows will most likely be located. Circa offers multiple deposit and withdraw options, and has some of the best odds on favorite to win bets of any CO sportsbook.

BetWildwood

Retail Partner: Wildwood Casino

Cripple Creek’s first retail sportsbook, Woody’s at Wildwood, was also the first self-launched app by a casino in Colorado’s southern gambling resort town. BetWildwood offers sports bettors moneyline and spread bets on a variety of sports, and has live in-game betting for many. There are numerous deposit/withdrawal options, and it offers new members a $50 free bet.

ELITE Sportsbook

Retail Partner: Red Dolly Casino

ELITE Sportsbook was the 11th sportsbook to launch in Colorado. Bettors can start placing wagers on its website or through the app right now. ELITE Sportsbook offers bettors a variety of prop bets and parlays, and promotions will be available, including a sign-up bonus worth up to $1,000 in free bets. The company says it will be the only sportsbook in the state to offer a progressive parlay.

theScore Bet

Retail Partner: Jacobs Entertainment

theScore bet is a popular sports betting platform that launched in Colorado in September through its partnership with Jacobs Entertainment, which owns and operates the Lodge Casino and Gilpin Casino, both in Black Hawk. theScore debuted in New Jersey in 2019, the first ever sportsbook launched by a North American Media company, Score Media.

Betfred

Retail Partner: Saratoga Casino

Betfred, a major player in the United Kingdom sports betting market, expanded into the US in 2020, with the first Betfred USA sportsbook opening at Iowa’s Grand Falls Casino. The brand’s second US location is Colorado. Saratoga Casino has partnered with Betfred USA for its sports betting platform. Betfred operates more than 1,500 locations in the UK. Betfred’s sportsbook was the very first retail window to open in Colorado, giving it a first-mover advantage.

Not-Yet-Launched Sportsbooks

Barstool Sports (Penn National Gaming)

Retail Partner: Ameristar Casino

Penn National, which operates the Ameristar Casino Black Hawk, has brought its Barstool Sports sportsbook brand to Colorado and soon will open branded retail sportsbook windows at Ameristar, the largest casino in the state. Ameristar soft-launched a self-branded sportsbook this summer, so bettors can place bets in person for now until the Barstool Sports app launches.

Twin River Worldwide Holdings

Two of the biggest names in mobile sports betting will come to Colorado via Twin River Worldwide Holdings, which has been awarded three master licenses from the CLGCC.

Twin River (operating as Premier Entertainment Black Hawk in Colorado), has announced partnerships with both FanDuel Sportsbook and DraftKings Sportsbook, the two companies leading the market so far in open mobile sports betting markets in the US.

Three Colorado land-based casinos (Golden Gates, Golden Gulch, and Mardi Gras) were purchased by Twin River in January, with the intent of using those properties in partnership with FanDuel and DraftKings to bring sports betting to Colorado.

Online Sports Betting Partnerships

Guide To Betting Online In Colorado

Although Colorado’s sportsbooks are each uniquely branded, there are similarities between each sportsbook. Here are a few things bettors can expect no matter where they wager.

Common Sportsbook Bonuses

When bettors create sportsbook accounts, they’re often offered welcome bonuses. These bonuses incentivize bettors to place wagers and continue placing bets long after the first one is settled. The most common bonuses in Colorado are deposit bonuses and risk-free bets.

Deposit bonuses usually require bettors to deposit funds into their accounts. (There are also deposit bonuses that award site credits upon signup, but they’re usually tiny–less than $50.) Most deposit bonuses will match bettor deposits at a certain rate. For example, Fox Bet has a 50% deposit rate. That means for every $2 bettors deposit, Fox Bet will give a bettor $1 in site credits. That allows bettors to deposit at their own pace and place larger bets with less risk.

However, these deposit bonuses usually max out at $250 to $500. Sportsbooks can’t award site credits indefinitely.

Many sportsbooks also offer risk-free bets. They’re bets that get refunded if bettors lose a bet. FanDuel offers a risk-free bet of up to $500. If a bettor’s first wager is $500 and it loses, then that bettor will get $500 back in site credits. However, the risk-free bet is only good for the first bet. So, a $50 that loses would only get $50 of site credits back. Risk-free bets are popular choices for sportsbooks to offer, but they don’t allow bettors to wager at their own paces like deposit bonuses.

Colorado Teams That Can And Can’t Be Bet On

There are many different sports to bet on, but Coloradans have their favorite teams. The Broncos will have lines available during the NFL season. They’ll have moneylines and point spreads ripe for enthusiastic betting. There are plenty of prop bets and futures that’ll be available on the Broncos, too.

A Colorado list of teams wouldn’t be complete without the other three main sports, though. The Colorado Rockies, Colorado Avalanche, and the Denver Nuggets are huge draws for sports fans across the state. All of them are fair game for sports betting, too.

College teams are fair game for certain types of bets, too. The Colorado Buffaloes are one of Colorado’s most popular teams, whether it’s CU’s football or basketball teams. Bettors will have the standard moneylines, spreads, and futures available as the professional teams offer.

However, Colorado sportsbooks won’t offer prop bets on college games. Colorado’s Division of Gaming prohibits prop bets on college games. It likely arises from a compromise with the NCAA, which is adamantly opposed to sports betting. Bettors shouldn’t be surprised when they don’t find sports betting on college teams.

What Is The Status Of Esports In Colorado?

Colorado not only allows esports betting. It also counts esports among its authorized sports catalog. The Division of Gaming’s rules stipulate that the Division will regulate sports and bets. That way, no one can make up a sport or bet that cons bettors out of their money. Sports matches must have clear, consistent rules to ensure bettors can understand how their wager will play out throughout the game. Bets must have similarly clear rules. Otherwise, sports betting wouldn’t be fair to bettors.

Sportsbooks Coming Soon To Colorado

There are two sportsbooks that are in other states but could come to Colorado next. The first one is Golden Nugget. It’s available in New Jersey, but it doesn’t have a partnership in Colorado yet. The second is Parx. It has an online casino and sportsbook in Pennsylvania, another prominent sports betting state.

However, the full list is anyone’s guess. There will likely be more than two dozen online sportsbooks in Colorado by the time everyone arrives.

Legal Vs Illegal Sports Betting In Colorado

Sports betting used to be an illegal activity in all but four states. Sports bettors’ only options were illegal sportsbooks and bookies. If there was a bookie or website that bettors created relationships with, it could be hard for some of them to leave. However, legal sports betting sites are superior to illegal sites.

Legal sportsbooks are required to have a cash reserve so it can pay their winning bets out. Think about what happens if an underdog with long odds comes through. A futures bet with +5,000 odds will drain a sportsbook’s cash reserve quickly. Licensed sportsbooks have a formula set by the Colorado Division of Gaming to determine how much cash to have on hand.

In contrast, local bookies may not have that kind of cash on hand. They could be collecting bets informally at the bar with a makeshift business. In that case, there’s nothing stopping them from pocketing bettor money. Even if they’re reliable, they may get stretched too thin and be unable to pay out winnings. If that happens, bettors have no legal recourse because betting with a bookie is illegal in Colorado. They’re stuck without their winnings.

The worst-case scenario is a bookie that works for a crime syndicate. Your bookie may be cool, but his employers may come after bettors who bet on credit and don’t repay their debts. Bettors in good standing may also fund human and drug trafficking unknowingly. Licensed sportsbooks’ transparency ensures bettors don’t fall into these traps.

How Do I Know Online Sportsbooks Are Fair?

Online sportsbooks aren’t all shady offshore websites. However, new bettors may struggle to tell the difference between the two. Here’s how bettors can know they’re betting at a legitimate company.

Who Regulates Legal Online Sportsbooks?

The Colorado Division of Gaming regulates all the sportsbooks in Colorado. It’s a government agency that awards licenses, establishes rules, and enforces industry guidelines. The Division of Gaming also has resources for sports betting operators and customers alike, creating a transparent environment for all industry players.

Sports Betting Sites Uk

Before sportsbooks are licensed, the Division of Gaming thoroughly examines each applicant. That includes financial statements, background checks, and a complete record of lawsuits the applicant was involved in. And if a sportsbook doesn’t pay out winnings, the Division of Gaming is a bettor’s next stop. It has processes in place to keep sports betting safe and fair across the board.

Why Should I Trust Online Sportsbooks?

Before they go live, online sportsbooks submit to a security audit. It ensures the sportsbook can protect sensitive bettor information. The sportsbook hires an independent auditor who submits her findings to the Division of Gaming. If the auditor finds areas of improvement, she’ll list them in the report as well.

The Division won’t award a license to a sportsbook that can’t protect its bettors’ information. Since bettors submit their banking information during registration, sportsbooks need top-notch security in place. Bettors can rest assured that by the time they place a wager, their sportsbook of choice is prepared to protect their data.

How Do I Get Paid If I Win?

Sportsbooks make transferring money in and out of the sportsbook account easy. They know no one wants to bet at a sportsbook that makes handling money a hassle. If bettors win, they’ll have cash moved into their sportsbook account. From there, it’s usually as easy as hitting ‘withdraw’ and moving money to their bank or PayPal account. There are other options too, but no one’s using 7-Eleven’s cash withdrawal option during a pandemic.

In short, bettors can get paid from the app. They just have to win, which is win. Best of luck to all the aspiring bettors out there!

Online Sports Betting FAQs

Online sports betting is new to Colorado, so bettors may have a few clouds of doubt about the industry. Here are some common questions we can clear up at the end.

Yes, you can register online and start betting anywhere in Colorado. You only need to be physically within the Colorado border to place wagers.

Moneylines, spreads, prop bets, and futures are legal on professional teams. However, Colorado bettors cannot place prop bets on college games. All bets are prohibited on high school games. (No one seriously thought DraftKings would have lines on their daughter’s softball game, did they?)

Yes. Because the Buffs are a PAC-12 team, college sports is a big draw in Colorado. And that’s before factoring in all their popular opponents. Everything besides prop bets is fair game on college sports.

Yes. Several sportsbooks have esports sections in their apps. If the pandemic shuts down major sports again, bettors may end up relying on the esports section to get their betting fixes. Counter Strike, anyone?

10%. The taxes largely go to water conservation projects in Colorado. Since Colorado shares water with seven other states, it’s a lot more than an environmentalist cause. It’s a precious resource that’s being funded by a portion of every bet.

Licensed Casinos and established sportsbook companies. Unless aspiring entrepreneurs have all the pieces of their business in place, they can’t complete the license. It wouldn’t be impossible for someone to start a sportsbook in Colorado. However, it would require a massive cash infusion upfront. The sports betting market is largely inaccessible to companies without a track record.

Yes. It was also one of the first sportsbooks to do so.

Credit card gambling sites are simply online casinos, sportsbooks, or poker rooms that accept credits cards as a method of funding a player’s betting account. It can also be equated to using your credit card as a cash advance for betting purposes as online sportsbooks don’t offer credit like some brick and mortars.

To make things easier for you, we’ve compiled the above list of some of the best sites that provide the best credit card banking system for their players.

Types of Cards

Most of the sites that we review accept Visa first and foremost, but Mastercard is close behind. Other more frequently offered card payments include:

The prime areas that the site services determine the cards that are accepted but, for US and UK sites, Visa and Mastercard will rank the highest.

Why Are Credit Cards So Popular for Online Betting?

There are many ways to fund betting accounts these days, as it seems like new financial services are popping up monthly, but most customers have at least one credit card.

On the merchant’s end, credit card acceptance is typically at the top of their list banking methods as these sites want to cater to as many potential bettors as possible.

Unlike the US, in locations like the United Kingdom, where online betting is legal as long as the site is licensed by the UK Gambling Commission, credit card acceptance is practically a slam dunk. Players will still come across a few banks here and there that may decline an online gambling transaction anyway, but most people shouldn’t have a problem.

Don’t Present That Card Just Anywhere

You may have your Visa in hand ready to buy some chips or spin those reels, but you don’t want to use a credit card with the first site that pulls up on your search. You’ll want to factor in reputation, fee structure, and payout processing into your decision-making process.

Credit or Cash Advance?

Using a credit card is essentially taking a cash advance from your bank or credit card provider and, even though most transactions aren’t recorded that way for everyday purchases, gambling may trigger an additional cash advance fee.

It’s entirely up to the issuer of the card, but they can code your transaction as a cash advance and tack on those higher interest rates that accompany that additional service. It can get pricey for players who use a site that charges for the transaction and then have their bank apply cash advance fees as well, so credit card use may be the easiest, but it’s certainly not the cheapest.

The Fees

Putting aside the APR (Annual Percentage Rate) that banks charge monthly for any carryover of a balance, the casino, sportsbook, or poker room may also tack on some costs of their own.

This is a more common practice with sites that allow for players from the United States. You’ll find that the UK or European servicing websites that prohibit US registration are much more generous in their banking policies and are typically fee-free.

The mention of any charges being assessed for credit card use may bring to mind withdrawal fees but, believe it or not; some sites charge players to transfer into their betting account as well. One well-known sportsbook charges 5.9% just to make a deposit using Visa or Mastercard, and then there are other costs added to the reverse transactions as well.

One other thing to take into consideration is the way you’re initiating your deposit. A fee-free designation or the posted rates, if there are any, apply to transactions made using the automated system hosted within the website. This is the most straightforward method as players can input their card information, the amount they want to transfer, and then the bank makes its approval decision, all within seconds.

If on the other hand, you go to the customer service department and make a charge by phone request, you could be looking at extra fees. It’s not uncommon, even for a betting sites that offers free banking, to charge something for payments by phone.

There’s one other fee that could be assessed depending on your location and that of your chosen gambling site, and that’s the international service fee. In some cases, you could be charged a percentage of your deposit and/or withdrawal for currency exchange.

Turnaround Time for Credit Card Transactions

One of the benefits of using a credit card to transfer money to a gambling site is the speed of the transaction, at least for deposits. Payments made using the automated system are approved (or denied) in a matter of seconds, and that money is then immediately made available for betting use.

Payouts, on the other hand, are an entirely different story. We’ll get more in depth with withdrawals in a moment but, but credit card payouts are not always an option.

The websites that do allow for those reverse transactions still take much longer than instant deposits that are just so appealing.

Cashing out any winnings first has an internal approval process by the sports betting cashier attached to make sure that any bonus wagering requirements have been met and that the payout is in line with its policies.

Then, there could be another waiting period as the payment request is sent to the credit card provider for processing. Some websites will promote fast turnarounds within a few days, but some have as high as a 7-10 business day window before you’ll have cash in hand or, more accurately, “cash on card.”

Non-Credit Card Payouts

Sports betting sites require their customers to use the same method for both deposits and withdrawals but, in the case of credit card users, that’s not always an option. If we had to estimate, we’d say that only about 40% of sites will offer credit card payouts and they’re usually not the ones that allow US players to join.

If your chosen gambling provider doesn’t allow for credit card payouts, the default method is generally a check or some bank or wire transfer which, in both cases, will hold up your payment anywhere from a few days to a few weeks, so know these requirements before depositing with a credit card.

The 7995 – AKA the Challenge For US Players

The legality of online gambling for US players has never been well defined, so that everyone would be on the same page. But, the one highly referenced act, the Unlawful Internet Gambling Enforcement Act of 2006 is the one that sent US-based online gambling providers packing.

Although they moved their physical operations, where does that leave players?

Well, the act doesn’t state that online gambling is illegal. What it addresses is the payment processing for internet betting, directly targeting banks and the operators but not the customers who use the services.

Credit card companies use a coding system involving a list of merchant codes that, in the most general terms, defines the purchase being made. For example, if you paid for a meal in a restaurant, it would fall under the “dining” code.

When there was nothing on the books officially allowing for online betting anywhere in the US, transactions were categorized under one main code, 7995.

The New Jersey, Nevada, And Delaware Effect

In 2013, when online gambling was officially legalized in the states of New Jersey, Nevada, and Delaware, players and operators still faced the challenged of the dreaded 7995. Even though the transactions should have been approved, financial institutions retained the blanket decline without any further investigation.

As you can imagine, that did not sit well with the casinos or the customers so, in 2015, new codes were added by Visa, Mastercard, Discover, and American Express to define further the transaction that was initiated.

The three new codes categorized the following:

• Government-run online lotteries
• Regulated online casinos
• Regulated events for online horse and dog racing

Mastercard also has a newer code that is used for cash advances for legal gambling.

This doesn’t open up approvals across the board but does allow for easier use within the state lines of Nevada, Delaware, and New Jersey.

Non-Direct Use Of Credit Cards

Even if you aren’t able to use your credit card for a straight deposit into a betting account, there are still some ways you can use it, and you may even save yourself some money by taking a different route.

These days, gambling sites have expanded their menus, adding to the traditional credit card and wire transfer methods to include e-wallets like Skrill or PayPal as well as Bitcoin. Bitcoin has become one of the more favored ways to conduct financial transactions as there isn’t an overseeing authority designating how you can and can’t use your money.

Can be funded with a credit card by using an exchange company like Coinbase. You set up your credit card and transfer in from your local currency, and it can then be exchanged to Bitcoin and put into your wallet for a direct transfer to any sportsbook or casino that takes this cryptocurrency.

In some cases, depending on your “between” method used, you could save yourself some fees that the sportsbook may apply to credit card transactions.

Bitcoin Betting Sites Evolving into Credit Card Sites

In 2014, Bitstarz became the first Bitcoin-only casino to start taking credit cards. It may seem like an odd thing to do because Bitcoin allows for such easy deposits and withdrawals, but if you think about it, it makes sense.

Credit cards have a higher acceptance rate for deposits than payouts and players don’t want to wait weeks to receive a check in the mail or be made to set up a bank transfer.

Accepting credit cards for deposits and then converting to Bitcoin for withdrawals allows for nearly instant transactions in both directions for the customer, as well as a way to put some Bitcoin away for investment purposes. If cash in hand is needed quickly, though, an exchange service can also transfer that Bitcoin to your designated traditional currency and put it in your bank account or credit your card.

Debit, Prepaid, And Gift Alternatives

We’re talking specifically about credit cards here, but there are plenty of similar card alternatives that may offer easier acceptance and lower fees.

Debit cards have been used as long as credit cards in the world of online betting and usually go hand in hand with the credit card structure. So, instead of saying credit cards and debit cards are allowed, the site may just put all Visa designated cards, Mastercard and Maestro into one category. The fee structure is typically the same, and the acceptance is still in the hands of the bank or card provider.

Gift and prepaid cards that have the Visa designation or are provided by another primary card company will usually come with the same charges attached, if any, but may allow for easier approval.

These types of non-credit based cards act as cash transactions as the prepaid cards are loaded with a designated amount of money and your debit card is pulling directly from your checking account based on your available balance.

The Benefits to Credit Card Gambling

• Speedy deposits so you have your money available for betting in an instant
• Allows for currency exchange
• Many players have at least one credit card
• Depending on available card credit, you can keep overspending at bay
• Outside of the US, most credit card transactions into a casino, sportsbook, or poker room are free
• Can use credit cards to fund alternative methods like e-wallets or Bitcoin

The Downside to Credit Cards

• Not always offered as payout alternatives
• The approval is up to the card issuer and not always tied to your available balance
• US players have a much smaller chance of being approved
• Banks can consider your transaction to be a cash advance and charge you a higher percentage rate
• Casinos, sportsbooks, and poker rooms may charge fees for credit card use and a higher rate for international transactions
• You can bet above your means and you’re using money you have to pay back