Wyoming Sports Betting Experiences Big Increase in Second Month After Launch
After nearly $6.25 million was wagered in the state's first month of allowing legal online sports betting, Wyoming sports betting increased dramatically in its sophomore month.
Wyoming took in $10,847,657 in total handle for October, a 73.8% increase over the state's debut in September, according to the Wyoming Pari-Mutuel Commission.
Launching online sports betting just before the NFL season, Wyoming's mobile-only market saw more bettors able to participate, especially later in the NFL season when wagers can become a bit easier to make.
However, the gross gaming revenue was down 7.7% in October, going from $954,416 in September, to $881,200 in October.
Even with this decrease in revenue, Wyoming ventured out of the red in net sports betting proceeds and total taxes.
The net sports betting proceeds were minus-$123,970 in September, but rose to $281,603 in October, whereas the taxes climbed from minus-$12,398 in September to $16,021.31 in October.
Wyoming Sports Betting, October vs. September
|Total Handle||Gross Revenue||Total Taxes|
|Change||Up 45.9%||Down 7.7%||--------|
Note: Wyoming’s sports betting market is all mobile.
Most Bet on Sports
In Wyoming’s first month, betting on the NFL made up 58% of the market share.
With this inflated handle number and this recent statistic, it would not be surprising to see the NFL capture a similar or higher share of the sports betting market. No October numbers were available by sport as of Wednesday from the Wyoming Pari-Mutuel Commission.
Wyoming Sports Betting Market
In Wyoming, sports betting is only available online and there are two online sportsbooks — BetMGM Wyoming and DraftKings Wyoming.
Each of these online sportsbooks offers new player welcome bonuses.
At DraftKings, players will receive a 20% match on a first deposit worth up to $1,000. From here, you will receive the matched bonus funds in increments of $1 for every $25 wagered.
New BetMGM Wyoming Sportsbook players can access a risk-free bet that is worth up to $1,000. If your first wager results in a loss, you will receive a refund in the form of free bets equal to the amount of the wager.
If the refund is over $50, you will receive the free bet in denominations of 20% of the wager. For example, if the wager is $100, you will receive five $20 free bets.
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