South Dakota and Wyoming approve sports betting rules

The states of South Dakota and Wyoming have both approved sports wagering rules.

Both states also plan to launch sports betting in time for the start of the upcoming NFL season.

South Dakota approves sports betting rules

On Monday, the South Dakota legislature unanimously approved a set of sports betting rules at a hearing in Pierre.

This comes after South Dakota voters approved a measure that would allow land-based sports betting at casinos in the historical city of Deadwood in the state.

Lawmakers in the state are set to make minor amendments to the rules during a hearing scheduled for 8 September. On the same day, the South Dakota Commission on Gaming plans to approve a set of sportsbook operator licenses.

At this moment in time, the state plans to launch sports betting on 9 September, just in time for the start of the NFL season.

What about Wyoming sports betting?

The Wyoming state gambling regulator also approved rules for sports betting on Monday.

On Monday, the Wyoming Gaming Commission unanimously approved sports betting rules that cover licensing, taxation, and other requirements for sportsbook operators in the state.

Under the state sports betting laws, the Wyoming Gaming Commission was required to promulgate the rules before 1 September.

Wyoming’s governor Mark Gordon signed HB 133 into law in April, legalising sports betting in the state.

Similar to Tennessee’s sports betting market, Wyoming’s betting market will have an uncapped number of maximum licenses, and the market will be entirely online.

The commission intends to begin issuing licenses before the start of the NFL regular season on 9 September.

During the meeting on Monday, the Commission adopted a set of online sports betting rules and a set of emergency online sports betting rules.

The 122-page rule document contains nine different chapters on the standards and procedures for online sports betting and wagering systems across the state of Wyoming.

The rules cover internal controls, responsible gaming advertising, and taxes and payments.

The Commission’s executive director Charles Moore explained that the language across the regular and emergency rules are identical. Under Wyoming law, the emergency rules will no longer be in effect 120 days after they’re filed with the state registrar.

Once sports betting goes live in the state, Wyoming will be the first US state to allow sportsbooks to accept bets in “digital, crypto virtual currencies” as long as the wagers can be converted into cash.

Bettors in the state must be at least 18 years old and can register, deposit, and wager from anywhere within state lines.

The state regulator must still approve which sports and leagues can be wagered on, however, there are no restrictions on college betting or in-state collegiate teams. 

Sportsbooks operating in the state will be taxed 10% of gross gaming revenue, which is below the national average. Operators are also restricted from deducting taxes from promotional spending.

It is not yet clear which US sports betting operators will enter the market. As Wyoming is the least-populated state in the US, there may not be enough potential customers to entice operators to pursue market entry.