Wyoming Gaming Commission to Explore iGaming Expansion Through Feasibility Study

online casino gaming, also known as iGaming, in Wyoming. This initiative is part of a broader effort to explore new revenue streams and enhance the state’s regulated gaming market.

Legislature Mandates Comprehensive Gaming Study

As part of the 2024 General Appropriations bill, the Wyoming Legislature tasked the WGC with conducting a statewide study on various aspects of gaming in the state. This includes an in-depth examination of historic horse race wagering, skill-based amusement games, and the already existing online sports betting framework. The study, carried out in consultation with the state’s t Appropriations Committee, is intended to help Wyoming lawmakers make informed decisions about the future of gaming in the state.

The study will focus on a variety of issues, such as the growth of wagering locations, the Commission’s capacity to regulate these activities, and the transparency of its reporting processes. Additionally, the investigation will identify any legal gaps that might impact consumer protection, fairness in gaming, and non-compliance issues related to the state’s licensing and permitting processes.

The Committee will also review whether interactive gaming should be authorized or prohibited and will examine the best regulatory approach if it is allowed. A focus will be placed on the potential tax revenue that iGaming could generate, with the possibility of introducing new legislation during the 2025 General Session.

Spectrum Gaming Group to Lead the Study

To carry out this extensive research, the WGC has contracted Spectrum Gaming Group, a consultancy firm renowned for its expertise in the gaming industry and its in-depth knowledge of regulatory matters. With decades of experience assisting state regulators, Spectrum Gaming Group brings a wealth of knowledge to this study. The firm will investigate the current state of Wyoming’s gaming market and evaluate whether introducing iGaming would benefit the state.

According to the Commission, the study will involve site visits, data analysis, and comprehensive research over the next several months. Spectrum’s findings are expected to help shape the future of gaming in Wyoming, with an initial draft of the report anticipated by early November. This report will provide key insights on how the state can enhance its regulatory framework and determine whether the expansion into iGaming would be a viable option.

While Wyoming currently allows online sports betting, skill games, horse racing, and pari-mutuel wagering, the state has not yet ventured into the online casino realm. However, the success of online sports betting in the state has sparked interest in exploring new digital gaming opportunities. In August, Wyoming’s sports betting market reported a total handle of $12.2 million, reflecting a 16.6% increase from the previous month and a 25.2% year-over-year jump. With a 10% tax rate on online sports betting, Wyoming consistently generates over $100,000 in monthly tax revenue, a figure that reached $116,181 in August alone.

Given the success of sports betting, iGaming could offer another significant revenue source. Currently, only seven U.S. states permit online casino gaming—West Virginia — though many others are keeping an eye on how the industry evolves.

A Legislative Path Forward?

In February 2024, Wyoming lawmakers introduced House Bill 120, which proposed issuing up to five online gaming operator licenses. Despite initial enthusiasm, the bill ultimately failed in the House. Nevertheless, the WGC’s ongoing study could reignite the conversation surrounding iGaming, particularly as it delves into the potential benefits of expanding Wyoming’s gaming market to include online slots, table games, and other forms of iGaming.

Charles Moore, the Executive Director of the WGC, highlighted the importance of an objective analysis to guide future decisions. “We believe that iGaming has the potential to bring significant benefits to our state, but we also recognize the need for a comprehensive and objective analysis to inform our decision-making process,” Moore stated.“By working with Spectrum Gaming Group, we are confident that we will receive valuable insights and recommendations that will help us navigate this rapidly evolving industry.”

Source:

”Feasibility Study on Gaming in Wyoming”, gaming.wyo.gov, September 25, 2024.