Wyoming to begin accepting applications from sports gambling operators
By Bob Garcia
Tomorrow marks a pivotal day for Wyoming’s sports gambling market
The Wyoming Gaming Commission (WGC) announced yesterday that it will finally give sports betting operators the opportunity to submit their applications for licenses through its website starting tomorrow. At the same time, it was made clear what guidelines prospective applicants must follow should they wish to begin the licensing process.
Governor Mark Gordon signed a bill (HB 133) three months ago, which gave the green light to online sports betting in the Equality State. As part of the bill’s provisions, a total of five sports betting licenses were allowed, valued at $100,000 each, and it was established that in order to be renewed annually, an additional $50,000 must be paid.
Aside from the fact that Wyoming is the most sparsely populated state in the country, it has been said that the potential revenue created by this new market could be enormous. Based on the 10% tax rate that was set on gambling revenues, the state’s gambling market is expected to reach an estimated nearly $450 million, a considerable figure based on its size.
It has long been experienced that citizens of this state have had to leave its borders to place a bet, an activity that can be considered both legal and illegal. Senator Drew Perkins was one of the Wyoming legislators aware of this fact, and during the beginning of the process had said that “A big part of [HB 133] is not necessary to create a hammer to go after those who do it illegally, but rather to create a more protected and regulated environment so that when they place the bet and win, their bets will pay off.”
Barstool Sports, BetMGM, DraftKings and FanDuel have been among the national operators that have shown interest in involving sports licenses in this state. All of this movement indicates that many are aware of the lucrative potential of this newly forming Wyoming sports betting market.