Online Sports Betting on its way to Wyoming

Online Sports Betting on its way to Wyoming

It’s taken a fair while, but the clock is now counting down to when online sports gambling in Wyoming is legal. A bill allowing this has been going through the House and Senate of the American State. Its passage hasn’t been easy though with plenty of opposition to the bill.

In previous years, it was the Federal Government who made such decisions. That all changed in 2018 when a Supreme Court judge ruled that individual states could decide on such matters. Since then, many states have passed laws that legalize betting.

It’s been slow progress in Wyoming but there is light at the end of the tunnel. The bill has gone through the House and it’s believed it has enough support in the Senate too. Then it will just require the signature of Governor Mark Gordon to become law.

With the prospect of millions of dollars in tax revenue being received, you’d think Wyoming would be keen to legalize sports gambling. It’s been a tough old battle though with three attempts being required before the House finally passed the bill. Even then, it only won by a 32-28 margin.

Senate Appropriations Committee Approval

Success was achieved when the bill came before the Senate Appropriations Committee. The vote was much more conclusive with a 24-5 vote in favour.

With the amount of gambling on sport increasing, it seems a logical move for Wyoming to take. There’s been plenty of illegal betting going on, so why miss out on the tax revenue that gambling will bring? Senator Jeff Wasserburger spoke on this issue saying that the bill “tries to stop the black market that is taking place now.” There will also be consumer protection in place and a 10% tax on bets. Their eyes probably lit up when the latter detail was announced.

Regulation of sports gambling will be the work of the Wyoming Gaming Commission. They will work on setting the rules that operators will need to follow. They have until September to do that just in time for when the new NFL season begins.

Permit Application Costs

More money will be on the way with fees and penalties. A permit application fee will cost $100,000 and another $500,000 due to renew that in five years time. Such influxes of cash will be very welcome after the problems the pandemic have caused. Hundreds of millions of dollars will help the state a great deal.

There is of course the fear that legalizing sports betting will lead to a rise in those who become addicted. Some of the tax revenue received will go to the Wyoming Department of Health to help those who do have problems with their gambling.

Online gambling in particular has proved popular once states legalize gambling. Those in the state of Wyoming won’t be able to bet on every single event. The bill prevents betting on events where the majority of those taking part are under the age of 18. This will prohibit betting on college matches and that’s a blow as they are very popular in the USA. Something is better than nothing though.