- The Wyoming Senate Approved Online Sports Betting 24-5
- Only Online Betting Would Be Regulated
- Implementation Was Delayed Until September 2021
On Monday afternoon, the Wyoming state senate passed a bill that would legalize online sports betting. This legislation has already cleared the house, though by the slimmest of margins. This means that the Cowboy state is near the finish line for an expanded gambling option.
The final hurdle will be the signature of Republican Governor Mark Gordon. Currently, his feelings regarding regulation are relatively unknown. The governor of neighboring South Dakota took a few weeks to attach her signature to a less sweeping gaming bill.
Wyoming Would Be an Online Betting Only State
An online betting only set-up would be run through the Wyoming Gaming Commission. There remains no cap on how many operators the state could sell at $100,000 apiece. There is a ten percent tax on all revenue raised by the operators. Thus, the state could quickly reach millions of dollars in new funds.
Even though there are few residents in Wyoming, numerous operators would be expected to apply. A summer tourism market and many wealthy residents in Jackson Hole could create robust receipts.
A possibly optimistic review estimated the market could reach $449 million in gross bets yearly. At that level, Wyoming would receive nearly $45 million every year in much needed revenue.
Gambling Proves More Popular in the Senate
House Bill 0133 cleared the Senate on its third and final reading by a vote of 24-5. That is a massive margin compared to the House, which needed a reconsideration vote to advance 32-28. Hopefully, the increasing popularity will nudge the governor towards signing this legislation into law.
One crucial difference in the Senate bill is that the timeframe for when the first bet would be accepted has been extended. The effective date of the bill is now September 1, not July 1, 2021. This means Wyoming may miss out on crucial revenue related to the start of football season.
Wyoming sports bettors can seek out the best online sportsbooks by reading our thorough reviews. Those newly interested in wagering can find out more by checking out our guide to all things sports betting.