The US sports betting giant FanDuel will be the next sports betting operator to launch in the state of Wyoming.
This comes after FanDuel expanded its partnership with the NBA to become an official betting partner of the league.
FanDuel approved for Wyoming launch
US sports betting giant FanDuel was approved for launch in the state of Wyoming during a meeting held by the Wyoming Pari-Mutuel Commission last week Friday.
The Commission unanimously approved FanDuel to offer sports betting in the state, effective immediately.
This means that FanDuel will be able to launch its sportsbook in Wyoming in the coming weeks, becoming the third legal US sportsbook operator active in the state.
FanDuel gets late start in Wyoming
FanDuel will soon join the likes of DraftKings and BetMGM, both of which went live on 1 September when the state launched legal sports betting.
Although FanDuel has online sportsbooks in 12 states and is currently the market leader in the entire US market, the operator will have a lot of work to do to gain a foothold in Wyoming, especially given the size of the state.
In September, the first month of legal betting in Wyoming, DraftKings and BetMGM took just $6.2m in bets between them.
In terms of revenue, DraftKings and BetMGM generated gross gaming revenue of $954,416. However, according to the figures, net sports betting revenue amounted to -$124,969, meaning that promotional spending led to operators making a loss in September.
Football accounted for more than half of the first month’s handle, attracting $3.6m in bets.
The state of Wyoming has yet to publish figures for the month of October.
Wyoming Pari-Mutuel Commission Sports Wagering Project Manager David Carpenter said: “October looks very positive, the potential for doubling of wagers and a fraction of the free bet activity,”
How successful will sports betting in Wyoming be?
Given that Wyoming is the smallest US state by population, the market is unlikely to be a titan on the sports betting front.
Despite this, several operators are still pursuing entry into the market.
Penn National Gaming’s Barstool-branded sportsbook has also applied to enter the Wyoming sports betting market. However, some delays on the vendor side of things could delay the operator’s launch in Wyoming.
Carpenter also said other sportsbook operators have expressed interest in the state.
Sports betting in Wyoming
The state of Wyoming seemed to be one of the more unlikely states to legalize sports betting following the fall of the Professional and Amateur Sports Protection Act (PASPA) in 2018.
On 6 April, Governor Mark Gordon signed the bill into law, legalizing sports betting in Wyoming. Lawmakers pushed for a September launch date for the activity.
A month after the bill was signed into law, the Wyoming Gaming Commission published its final set of draft rules and after a 45 day comment period, the WGC opened the application process on 15 July. Sports betting rules were finalized on 2 August.
Wyoming’s legal betting market went live on 1 September 2021 with the launch of DraftKings and BetMGM. Similar to Tennessee, Wyoming’s sports betting market is entirely online.