Wyoming Gaming Commission Approves Sports Betting Rules

Wyoming Gaming Commission Approves Sports Betting Rules
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Launching the Wyoming sports betting market in time for the NFL season remains on schedule.

The NFL season begins Sept. 9.

On Monday, the Wyoming Gaming Commission (WGC) unanimously voted to approve the latest version of its online sports betting rules and requirements for the sportsbook operators looking to access the state’s market. The commission was required to put the laws into effect by Sept. 1.

The Wyoming sports betting market will be online only, joining the Tennessee sports betting market. Virginia sports betting is currently online only, but it will have retail sportsbooks when casinos are built. Like Tennessee, Wyoming will be the second state to allow an unlimited number of operators to apply for licenses.

The WGC adopted online sports wagering rules and a set of emergency online sports betting rules with both measures passing unanimously. Monday’s meeting came two days after the expiration of the allotted public comment period on the proposed rules. The final rules include sections on responsible gaming advertising, taxes, payments, auditing and internal controls and more. WGC Gaming Commission Executive Director Charles Moore noted during the meeting how the regular and emergency rules are similar.

Earlier this month, Moore announced well-known operators such as DraftKings Sportsbook, FanDuel Sportsbook, Barstool and BetMGM submitted letters of intent to apply for sports wagering licenses in the state. He also mentioned SuperBook Sports as another possible entry to Wyoming’s market.

Applications for sports betting licenses went live on July 15.

Once betting is officially launched, players 18 years and older will be eligible to sign up and deposit within the state. Wyoming will become one of the first states that don’t require a bettor to be at least 21 to wager legally.

Projections in Wyoming

If Wyoming reaches its targeted launch of Sept. 1, it’ll become the third state to go live in less than five months after sports betting was made legal. Gov. Mark Gordon signed HB 133 into law in April, making sports wagering legal. Under the bill, the state is required to have a minimum of five online sportsbook licenses at a fee of $100,000 with annual renewal at $50,000.

Early projections for Wyoming’s sports betting debut estimate a market of $450 million. The 10% tax on gaming revenues will generate more income for the state. Annual revenue has been projected from between $2.23 million and $4.7 million.

Wyoming will also become the first state to permit sportsbooks to accept wagers in “digital, crypto and virtual currencies.” The cryptocurrency is required to be converted to cash.

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