- Lawmakers in Wyoming present a bill that if passed would bring sports betting residents mobile and online sports betting.
- There is a hope for this bill passing and online sportsbooks being live by January 2021.
- Operators looking for a license would have to pay a $20,000 fee.
CHEYENNE, Wyo.– There may be a sports betting light at the end of the tunnel for residents of the Cowboy State as lawmakers present the bill HB0225 to bring mobile and online sportsbooks in Wyoming.
WY HB 0225 was introduced on Wednesday and is sponsored by Senator Ogden Driskill and Wyoming House of Representatives member Tom Walters, with the hopes of bringing regulated online sports betting to the Equality State.
Currently, Wyoming only allows online greyhound and horse racing bets as well as fantasy sports.
Sports Betting In Wyoming
There is presently no form of regulated sports betting in Wyoming. Residents and tourists who want to participate in placing bets on their favorite sports teams and events would have to travel outside the state or use an unregulated online sportsbook.
Supporters of WY HB 0225 hope to change that and allow the state of Wyoming to reap the benefits of extra revenue from regulated sportsbooks.
The bill would allow anyone who is 18 years or older access to placing legal bets on sports inside Wyoming.
If the bill passes, sports bettors will be able to wager on over/under, parlays, pools, single-game bets, teaser bets, exchange wagering, in-play bets, proposition bets, in-game wagering, and straight bets.
Wyoming would also see a revenue spread from taxations as licensees would be subject to a 16% tax rate on monthly online betting revenue.
Operators who are looking to secure a license would also have to pay an initial $20,000 fee, and every 12 months following that a $10,000 annual renewal fee.
There is a clear benefit to bringing regulated sports betting to Wyoming for both residents and the state itself. Other states with regulated sports betting have seen massive revenue success.
As the bill has just been presented, it is still in the earliest stages of the legal process. There is no telling if and when the bill will be passed and become law although supporters of WY HB 0225 are aiming to open regulated online sportsbooks by January 1, 2021.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.