The Wyoming Gaming Commission (WGC), in conjunction with the Wyoming State Legislature, recently announced that it has entered into a contract with Spectrum Gaming Group to conduct a statewide feasibility study about the future of gaming in Wyoming.
The study will review the structure of historic horse race wagering, skill-based amusement games, and online sports betting in the Equality State.
Wyoming was the first state to implement legal sports betting after Governor Mark Gordon signed the state’s mobile-only sports betting bill (HB 133) into law. Currently, there are five mobile sportsbooks in the Wyoming sports betting market actively accepting online wagers.
Top priority
The Wyoming State Legislature's Joint Appropriations Committee determined that a comprehensive review of gaming in Wyoming is its current top priority.
Spectrum brings decades of experience in the gaming industry serving state regulators with comprehensive gaming studies, and regulatory and pari-mutuel expertise. In addition to looking for growth opportunities, the study will identify possible gaps in Wyoming law that affect or may affect the security, integrity, or fairness of gaming activities, procedures to address non-compliance, and more
Potential expansion for Wyoming gaming
An initial draft of Spectrum’s report is expected in early November. Based on the study's findings, the Committee may consider providing a uniform regulatory structure for pari-mutuel, skill gaming, and retail sports wagering.
Spectrum’s report will help determine the potential number and growth of wagering locations and activity, the Commission’s oversight capacity, and the transparency and efficiency of the Commission's monitoring and reporting on licensees and horse track safety.
The study will also assess the potential tax revenue of iGaming in Wyoming, which could help the Commission implement an appropriate regulatory structure for this new market. If there is enough evidence in favor of bringing online casinos to Wyoming, new legislation could be introduced as early as the 2025 General Session.
Wyoming sports betting today
The Wyoming market is by no means a behemoth in the larger scheme of the U.S. legal sports betting industry, but there is still plenty of value for operators there.
Wyoming's sportsbooks have touted double-digit hold percentages for three consecutive years, with a 11.9% hold year-to-date on the $102 million wagered in 2024 so far.
Fanatics Sportsbooks recently launched in Wyoming online sports betting sites in May, rounding out a field of online sports betting that includes powerhouses DraftKings and FanDuel, and household names BetMGM and Caesars.
