Wyoming Takes Steps to Legalize Online Casinos with New Bill

growing for the economic and regulatory benefits of iGaming.

Key Provisions of House Bill 0162

online sports betting permits in Wyoming are eligible for discounted application fees of $2,500. Other key licensing fees include:

• $100,000 for an initial five-year iGaming license.
• $50,000 for license renewals.
• $10,000 for a five-year vendor permit, with $5,000 for renewals.

The WGC is tasked with creating a compliance program to monitor operators and vendors, ensuring adherence to regulatory standards. Additionally, operators must implement geolocation technology to restrict gaming to individuals physically located within Wyoming or permissible jurisdictions.

Revenue Distribution and Economic Impact

The proposed bill outlines a detailed revenue allocation strategy. Licensed operators would remit 16% of their monthly revenue, with the first $300,000 allocated to the Wyoming Department of Health for problem gambling treatment. The remaining funds would be distributed as follows:

• 50% to Wyoming’s School Foundation Program.
• 40% to counties based on population.
• 10% to the WGC for istrative costs.

A study conducted by Spectrum Gaming Group projects that Wyoming’s iGaming market could generate between $93 million and $138 million in gross gaming revenue during its first year, potentially yielding up to $30 million in state taxes. By the fifth year, these figures could nearly double. The study also found no significant risk of cannibalization to the state’s existing gaming sectors.

Integration with Tribal Gaming

As Wyoming’s gaming market currently consists solely of tribal casinos, the bill includes provisions for online gaming agreements with tribal operators. This approach aims to harmonize state and tribal gaming operations, allowing tribes to participate in the online gaming market while maintaining their sovereignty.

Challenges and Path Forward

Despite the potential benefits, HB 0162 faces challenges in gaining legislative approval. In 2024, a similar bill failed to by just a few votes. Representative Davis remains optimistic, citing the Spectrum study as a valuable tool to address concerns and build broader .

If successful, Wyoming would seven other states—including Pennsylvania—in legalizing online casinos. Notably, Wyoming’s streamlined government and smaller size may allow it to implement the legislation more efficiently compared to larger states.

National Context and Comparisons

Wyoming’s efforts mirror broader trends in U.S. gaming legislation. States like Indiana are also revisiting online casino proposals, while Maryland debates increasing gambling tax rates. In New Jersey, lawmakers are addressing the regulation of sweepstakes gaming to align it with existing internet gaming laws.

The introduction of House Bill 0162 represents a significant step toward modernizing Wyoming’s gaming industry. By addressing licensing, revenue distribution, and consumer protections, the bill provides a framework that could deliver substantial economic benefits while maintaining responsible gaming practices. The legislative session ends on March 6, 2025, leaving lawmakers a narrow window to decide Wyoming’s iGaming future.

Source:

House introduce new online casino bill in Wyoming, sbcamericas.com, January 15, 2024.