Wyoming Gaming Commission Approves Latest Sports Betting Rules
The Wyoming Gaming Commission (WGC) has sent the state’s online sports betting rules to the governor after approving them in Tuesday’s special meeting. Gov. Mark Gordon will officially receive the latest draft of the rules on Friday.
According to the commission, the framework of Wyoming’s sports betting rules has been prepared after a careful analysis of Colorado, Tennessee, Michigan, Iowa, and Indiana. All these states have ideal online sports betting models.
In April, Wyoming became the first state in 2021 to receive the governor’s signature on the online sports betting bill.
The state regulators plan to launch Wyoming sports betting by Sept. 1 deadline.
What Did WGC President Say?
WGC President Bob Davis appreciated the hard work that everybody put into realizing the sports betting rules. While looking forward to getting that part of the process completed, Davis said that they “are still on track for the Sept. 1 deadline that was mandated.”
A major part of the hearing revolved around formatting and technical aspects of the rules.
When asked by a DraftKings representative regarding the expected timeline for the application process, Davis said, “I think that’s putting the cart before the horse.”
Currently, the WGC has not given any expected date for the release of applications and licensing process.
Davis said they would move to Phase II – relating to the licensing process – now since the sports betting rules have been sent to the governor. “Obviously, you want to start operating, we have the identical goal.”
Though the WGC gave no timeline for applications and licensing, the law mandates that rules be finalized by Sept. 1, which means the process will be available before that period.
The new set of online sports betting rules must be approved by the Wyoming governor after which a 45-day public comment period will begin. The WGC had been taking stakeholders’ feedback for a few months and has already incorporated their suggestions. After the public comment period, more suggestions could be added before the commission gives a final vote on the rules.
The commission voted 7-1 on Tuesday for the new sports betting rules. Jenni Wildcat was the only commissioner who voted against the measure.
When Will Wyoming Sports Betting Launch?
Most states take at least 90 days from when the application process begins until operators are licensed. It means it is unlikely – though not impossible – to launch Wyoming sports betting by the NFL season opening even if the regulators begin taking applications from today.
However, even a better-late-than-never launch will make Cowboy State one of the most open digital marketplaces in the nation. Wyoming will also become the second online-only sports betting market after Tennessee, which launched last November.
The least populated state in the US with less than 600,000 residents, Wyoming is not expected to vie for any leadership role in the national market. Still, the Cowboy State is all set to welcome legal sports betting, with $500 million projected in the annual handle.
Who Can Apply for Wyoming Sports Betting?
According to House Bill 133 – which Gordon signed into law in early April – the WGC is allowed to accept license applications from qualified operators. The law defines qualified operators as “a sports wagering vendor currently operating in good standing in a similar role in at least three jurisdictions” in the nation under a state regulatory structure.
It means the residents will soon welcome national leaders like FanDuel, DraftKings, and BetMGM once Wyoming regulars officially launch sports betting on Sept. 1 (hopefully).