First Wyoming sports betting report paints a positive picture

The state of Wyoming has published its first sports betting report after launching legal betting back in September.

Wyoming’s legal sports wagering market went live on 1 September 2021.

According to the report, which was published by the Wyoming Pari-Mutuel Commission, the state’s two legal sportsbooks took $6.2m in bets in September.

Sportsbooks in the state posted a gross gaming revenue of $954,416, however, after account for promotional spend sports betting revenue dipped. According to the figures, net sports betting revenue amounted to -$124,969, meaning that promotional spending led to operators making a loss in September.

However, as September was the first month of legal wagering in Wyoming, promotional spending will likely fall in September.

David Carpenter, sports wagering project manager at the Wyoming Pari-Mutuel Commission, said: “October looks very positive, the potential for doubling of wagers and a fraction of the free bet activity.”

What did people bet on?

According to the state report, football was the most popular sport to bet on in September with Wyoming bettors wagering $3.6m on football. 

As more than half of the state’s handle came from football, it just goes to show why it is so lucrative for states with newly regulated sports wagering markets to aim to launch before the NFL betting season.

Parlay wagers accounted for just over $1m of the state’s total handle in September. Baseball followed with $959,590 in legal bets.

No other sport came close to breaking the $1m handle mark in September.

More sportsbooks coming to Wyoming

It looks like the state of Wyoming will have a few more legal sports betting options in the coming weeks.

On 5 November, the Wyoming Pari-Mutuel Commission and it appears that an approval vote for a FanDuel Sportsbook licence will be on the agenda for the team. If approved, FanDuel would be the third sportsbook to enter the state,

Penn National Gmaing’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.

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. 

Nevertheless, the Cowboy State has joined the list of states with legal sports wagering relatively quickly.

Back in March, the House of Representatives voted against HB 133 which would legalize sports betting. However, a day later, the House reconsidered the bill and approved the measure.

In the following weeks, the Senate also passed the bill by a vote of 24-5. Then 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.