Wyoming to Offer Legal Sports BettingPublished May 1, 2021 by Elana K
Wyoming has become the second U.S state to legalize sports betting in 2021, joing more than two dozen others
Wyoming has become the second U.S state to legalize sports betting in 2021. Wyoming Gov. Mark Gordon signed bill HB0133 into law after it cleared the House and Senate. According to the bill, the Wyoming Gaming Commission will regulate sports betting, including drafting rules and imposing fees. The Commission has until September 2021 to draft the rules.
After that, it’s anticipated that in-person and mobile betting will go live. Bettors will be able to download apps to their phones and place bets while within state borders. Betting will be allowed on NFL, NBA, NHL, MLB, and major college sports games. Operators will be charged $100,000 for a 5-year license and $50,000 as a renewal fee.
Benefits of Legalizing Sports Betting in Wyoming
Supporters of the bill pushed for regulated sports betting since they claimed that people were betting on sports illegally. By legalizing it, both the state and bettors stand to benefit. The state will benefit from taxes and bettors will benefit from betting at licensed operators that must meet strict standards of consumer protection and fairness.
And how much does the state stand to earn from legalized sports betting? Estimates range all the way from $250 million to $450 million, but either way, the money is desperately needed. According to Landon Brown, co-sponsor of the sports betting bill, “Jobs are frozen and there have been no raises for state employees." Since people are gambling anyway, either illegally or in nearby states where it is legal, Wyoming might as well offer the same thing and support a variety of funds.
Brown has also said that he envisions legal online gambling in Wyoming within the next 10 years.