- Wyoming’s House Bill 0133 that would regulate mobile sportsbooks in the state will be moving to the Senate for approval.
- A mobile Wyoming sports betting market could see over $400 million in annual revenue.
- The Wyoming Legislature adjourns for 2021 on April 2.
CHEYENNE, Wyo. – Wyoming may be getting a regulated internet sports betting industry as a bill that would make it all possible was approved last week to move to the Senate floor to be heard.
Anyone following the progression of House Bill 0133 knows that it hasn’t been an easy road to get to this point but through a serendipitous turn of events it is finally in the last chamber of the legislative process.
WY HB 0133 had three readings in the House where it failed on March 9 after the third reading vote came in at 28-32. However, it was called back for reconsideration and a second “third reading” the very next day where the votes were flipped 32-28, subsequently passing the measure out of the House and into the Senate.
On March 17, the Senate had its first introductions with House Bill 0133. It was referred to the Senate Appropriations Committee where it was presented this week.
The message by Representative Tom Walters, the sponsor of WY HB0133 was simple. Passing his measure would allow mobile sports betting, which occurs every day in Wyoming through outside sources, would be able to remain in the state. This would create profits for the economy as well as offering consumer protections to sports bettors in the Cowboy State.
Wyoming’s neighbor, Colorado, has been getting a ton of Wyoming sports betting business ever since they launched their market last year. Representatives in favor of passing the bill noted this fact during the committee meeting and how Colorado shouldn’t benefit financially simply because Wyoming does not have a regulated sports gaming industry of its own.
In passing this bill, the issue would no longer exist. The proposal would be a completely online market as mobile and internet sports betting has seen the most engagement nationwide with its popularity.
What Would Be Seen In A Wyoming Sports Betting Market
Under House Bill 0133, a minimum of five sportsbook platforms would be required to allow for a market launch. Three out of the minimum five would need to show proof of running profitable businesses in other parts of the nation prior to being licensed. Having a variety of operators would give Wyoming a competitive edge that could lead to higher profits overall.
There is a $100,000 application fee that will grant the initial license which will be good for five years before needing to be renewed for a fee of $50,000.
A tax rate of 10% on all GGR has been written within the proposal that would go to the Wyoming General Fund. This fund dispenses money to any area of the state that is in need at any given time. In a seasoned industry, the Wyoming Gaming Commission (WGC) expects to see upwards of $449 million in yearly profits.
Wyoming is trying to get in line with their neighboring states who are all-embracing regulated sports wagering, like Colorado, Montana, and South Dakota. The legislature closes out their 2021 session on April 2 and no date has been placed on the Senate calendar for WY HB 0133’s next hearing but they need to act quickly with less than two weeks left. Should the proposal become law, the WGC made a request which was granted that the launch date of the industry be moved from July 1 to September 1.
The conditions look favorable for Wyomingites to see mobile sportsbooks in the state come September.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.