Cowboy State One Step Closer to Sports Wagering

One month after legalizing sports betting in South Dakota, the state of Wyoming emerges as the second US territory in the Mountain West region to initiate the process of regulating its market and paving the way for approving at least five mobile sports wagering licenses.

The bill was already introduced in February this year by six state representatives and two senators, but the g into law occurred last week when Governor Mark Gordon presented the House Bill 0133.

Renewable, 5-Year Licenses

According to the report, the bill from February should give enough power to the state’s Gaming Commission regarding mobile sports wagering in the state, whose initial plans consider around five potential licensees.

It is also said that the permits will be given exclusively to those companies which operate in at least three regulated jurisdictions. There is also a maximum trial of five years, costing $100,000 plus a renewable fee of $50,000. In addition, the aggregators will be expected to pay $10,000 for a five-year license which can also be renewed for a smaller fee of $5,000. At long last, a tax of 10% on sports wagering revenues will also be ed.

Presenting a new house bill early in 2021 will give the Gaming Commission enough time to complete a whole new set of regulations, whose expected launch is scheduled for September 1 this year.

As with many states in the past, the prospect of getting a legal sports wagering sector in Wyoming had seemed impossible, especially last month when Bill 0133 was outvoted in the House. Nevertheless, a day later, it was ed after a reconsideration by 32 votes to four, thus avoiding a potential push back from the Senate Appropriations Committee.

Pursuant to the Wyoming Gaming Commission, a prospective take from sports betting in the state could reach $449 million annually.

“It’s something I’ve actually worked on not just this session, but I worked on it last session. So, to see it ultimately is very exciting. I think it’s good for the people of Wyoming because it allows for this regulated market,” said bill sponsor Rep. Tom Walters in an interview.

It is also expected that DraftKings will be among the first operators to apply, while other national operators with significant market share may include BetMGM, FanDuel, Barstool Sportsbook, PointsBet and theScore.

A Bill to Create GCC in Florida?

Meanwhile, far away from the Mountain West region, in the southeasternmost US state of Florida, a bill is being made to establish a Gaming Control Commission.

The late Senate Bill 7076 was introduced within the Office of the Attorney General and it should expand the abilities of the Office of Statewide Prosecution to investigate illegal gambling activity in the state.

The news about Florida’s attempt to legalize online and retail sports wagering based on the House Bill 1317 is currently being considered by the Regulatory Reform Subcommittee. It is proposed to take effect from October 1, 2021.

Source:

“Wyoming es sports wagering into law with hopes for September launch”, Chris Murphy, sbcamericas.com, April 9, 2021.