Sports Betting Coming Soon in Wyoming
July 20, 2021
With the start of the NFL season now less than two months away, sports bettors in Wyoming are starting to get a little antsy about the launch of online sports gambling in the state. Residents of Wyoming were given the green light for sports betting when Governor Mark Gordon signed bill HB 133 into law in the early part of April 2021. Here's an update on the state of sports betting in Wyoming.
While HB 133 was signed into law in April, it did not address specific rules and regulations. Wyoming Congress submitted that information to the Governor in late May. Based on state law, he posted the proposed sports betting rules and regulations online for public comment on June 9, 2021. Wyoming residents will have 45 days to read and respond. That deadline will hit on July 24th. Assuming there are no significant issues, the Governor could immediately sign the proposed rules and regulations into law by the end of July.
About HB 133
Here is what we already know from HB 133. Wyoming residents will only be able to place legal wagers online. HB 133 authorizes the Wyoming Gambling Commission to issue no fewer than 5 sports betting operator licenses. To qualify as an applicant, an operator has to already be providing online/mobile sports betting services in at least three other states.
It's worth noting that Wyoming's Indian Tribes have already been offering access to some forms of sports betting. They have been doing so without state authorization, leaving them with no competition. With the passing of HB 133, leaders from Wyoming Indians Tribes have stated they will be considering the opening of retail sportsbooks as a means of competing with online operators.
While the rules and regulations are currently under resident review, there are some details worth mentioning. If passed, sports betting applicants will be required to pay a $100,000 initial fee for a five-year license. In subsequent years, the renewal fee will be set at $50,000 per year. In addition to licensing fees, operators will also be required to pay a 10% tax on all sports betting revenue.
When Sports Betting Will Go Live in Wyoming
Assuming there are no glitches with the rules and regulations, all legislation should be in place by the end of July. From that point, the Wyoming Gambling Commission should be able to move quickly to approve operator licensing applications. It should come as no surprise to find out that DraftKings will likely receive the first license. Other major operators that could be getting approval include BetMGM, BetRivers, FanDuel, and Caesars/William Hill.
The goal is very clear. Both the government and sports betting operators would like to be open for business by September 9, 2021. That's the first day of the NFL regular season. Rest assured, that is what Wyoming sports bettors are expecting. After all, they have been waiting a lifetime for the opportunity to be able to legally wager on sports games and matches.