Wyoming has become the latest US state to launch legal and regulated sports betting.
This comes after the Wyoming Gaming Commission (WGC) approved sports betting regulations at the start of August.
Wyoming betting goes live
Sports betting went live in Wyoming yesterday (Wednesday 1 September) with the launch of the DraftKings and BetMGM sports betting products.
With the launch of the activity, the state met the WGC’s September 1 target launch date for sports betting.
The WGC approved online sports betting licenses for the two operators at a special meeting held on Wednesday afternoon.
During the meeting, WGC special project manager David Carpenter said: “As soon as I send out these emails with digital licenses and license numbers, they are approved and prepared for launch. Effective the close of this meeting, they’re ready and able to launch.”
Carpenter described the list of approved bets and sports as “pretty comprehensive.” However, sportsbook operators can also request to be on other events such as esports.
DraftKings and BetMGM first to launch in Wyoming
With its launch now complete in the state of Wyoming, DraftKings now has a presence in 13 states where sports betting is legal and regulated. Wyoming also marks the third launch for DraftKings this year, after the operator went live in Michigan and Virginia back in January.
Matt Kalish, co-founder, and President of DraftKings North America said: “Legalized sports betting has seen wide-spread growth in just three years and the DraftKings Sportsbook has been at the center of the action.
“We are thrilled that Wyoming sports bettors have the opportunity to experience the highly accessible and immersive fan experience along with best in class consumer protections that our product offers millions of skin-in-the-game sports fans.”
Wyoming also marks the 14th state to feature BetMGM’s sports betting product.
BetMGM CEO Adam Greenblatt said: “We’re ecstatic that BetMGM is one of the first mobile sports betting platforms to launch in Wyoming, just in time for the start of the football season.
“Wyoming is an important state for us as we continue to expand BetMGM’s footprint in the West. We’re confident that its sports fans will enjoy the BetMGM experience.”
More sportsbooks to enter the market
Several other US sports betting titans have their sights set on the Wyoming sports betting market.
If there are enough qualified applicants, the WGC is required to issue a minimum of five licenses. Aside from BetMGM and DraftKings, Penn National Gaming’s Barstool Sportsbook and FanDuel have also sent letters of intent to the state regulator.
Other operators, which include SuperBook USA and Golden Entertainment participated in stakeholder meetings for Wyoming sports betting. Meanwhile, PointsBet mentioned Wyoming as a possible state during its most recent investor presentation.
However, it is not clear when the WGC will clear more operators for launch. The next Commission meeting is set for November 5, however, WGC president Bob Davis said he expects there to be several more special meetings in the coming months.
A quick launch
The state of Wyoming has moved relatively quickly to get its sports betting market off the ground.
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 passed it.
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 WGC 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.
What sports betting in Wyoming looks like
Similar to the state of Tennessee, Wyoming’s sports betting market will be entirely online. There will also be an uncapped number of sports betting licenses available.
Bettors in the state must be at least 18 years old and can register, deposit, and wager from anywhere within state lines.
According to the approved rules, Wyoming will also 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.
Sportsbooks operating in the state will be taxed 10% of gross gaming revenue, which is below the national average.