The law passed to create legal sports betting in Wyoming creates an industry-friendly market that likely will invite competition from the biggest names in the US industry. State law requires that regulators hand out at least five WY sports betting licenses. However, there is no established cap, leaving open the possibility of more.
Operators will pay $100,000 for an initial five-year license and a $50,000 renewal fee when due. Sports betting revenue in Wyoming will be taxed at 10% on gross proceeds. The first $300,000 annually is targeted for gambling addiction treatment.
The state features mobile sports wagering through multiple operators because there are no commercial casinos. Two Native American tribes operate four tribal casinos. Since those tribes can offer Class III gaming, they also would receive the right to offer sports betting at their casinos.
State of Wyoming Sports Betting Overview
One bill, HB 225, was introduced to the Wyoming state legislature in 2020 to initialize the process of legalizing sports betting.
However, it did not get the votes in the legislature (27-32) to move forward. The bill called for not allowing prop bets on college sports or any game involving a college team from Wyoming. It only proposed the legalization of online sports betting versus in-person or retail wagering. The bill proposed a 16% tax rate for operators and 18 as the legal gambling age.
Unfortunately, this bill didn’t have legs, and it looked like little progress would be made for fans hoping to wager in the Equality State.
That changed when HB 133 was passed into state law on April 5, 2021. Governor Mark Gordon officially signed the bill, and Representative Tom Walters sponsored HB 133.
The state is always looking for additional revenue and may elect to keep gambling dollars in-state. While HB 133 was initially voted down, the legislative body met again the next day and reconsidered the bill, ultimately approving it.
Wyoming might not be expected to drive the biggest monthly betting revenue as the smallest state in the US by population.
Having said that, fans in the Equality State should expect a world-class betting experience with some of the country's best sportsbooks eager to enter this emerging market.
The Wyoming Gaming Commission has stated they won’t offer less than five sports wagering operator permits, meaning you should expect at least five major sportsbooks when betting gets underway. These licenses will cost $100,000 for a five-year term, while each renewal will come with a $50,000 price tag.
Either way, we expect sports betting sites like DraftKings and FanDuel will have a big presence in Wyoming.
Wyoming law prohibits all gambling not explicitly authorized by the state, including online casinos and poker sites. Online sports betting is legal, as are DFS and horse racing bets, but there are no indications lawmakers intend to legalize other types of Wyoming online gambling sites soon.
The provision continues to outline exceptions to the definition related to charitable gaming, prizes paid out in bona fide contests of skill, the state lottery, and private games hosted among friends in which no one earns a profit other than their winnings.
Participants in unlawful gambling games can be charged with a misdemeanor offense, punishable by up to six months in jail and a $750 fine. Anyone found engaging in professional gambling can be charged with a felony to receive up to three years in prison and a fine of up to $3,000.
State of Wyoming Sports Betting Timeline
March 2022: Fanduel Sportsbook has officially launched online in Wyoming.
September 2021: Legal online sports betting is now live in Wyoming. Sports fans across the Equality State can begin placing wagers as of September 1, 2021. DraftKings and BetMGM are among the first sportsbooks to open their virtual doors.
June 2021: The Wyoming Gaming Commission submitted a final draft of sports betting rules for the state to Gov. Mark Gordon. This set of rules will undergo a 45-day review process before finalizing any rules ahead of a potential September 1, 2021 launch date.
April 2021: Gov. Mark Gordon signed bill HB 133 into state law, with Rep. Tom Walters sponsoring the bill. This effectively legalized WY sports betting at the state level.
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