Wyoming Sports Betting Launches After DraftKings, BetMGM Earn Approval

Wyoming’s first legal online sportsbooks launched Wednesday after they were approved by state regulators to go live earlier in the day. Wyoming is the first state to both formally approve its first sportsbooks and allow them to launch on the same day.

Key Details

DraftKings and BetMGM earned the state’s first two sports betting licenses from the Wyoming Gaming Commission at its meeting Wednesday, and were allowed to launch right away. Several more sportsbooks could be on the way to the state in the coming months.

Wyoming is the first state to pass a 2021 sports betting law and take a legal bet this year. As many as 10 additional states are planning to take legal bets before the end of 2021.

With less than five months between bill signing to first bet, Wyoming will join Iowa and Indiana among a select group of legal sports betting states to take their inaugural wagers less than half a year after they were technically allowed to do so. Arizona is set to join that group next week.

Wyoming will be the 23rd state (plus Washington D.C.) to take a legal bet. It is just the second state, after Tennessee, to only permit online books.

Eligible bettors physically within Wyoming state lines can register, deposit and wager from any regulated book. Wyoming sportsbooks can also accept cryptocurrency payments for wagering.

DraftKings

This is the 13th legal online sports betting state for DraftKings and the third to launch a digital sportsbook this year.

“Legalized sports betting has seen wide-spread growth in just three years and the DraftKings Sportsbook has been at the center of the action,” said Matt Kalish, co-founder and President, DraftKings North America, in a statement.

“We are thrilled that Wyoming sports bettors have the opportunity to experience the highly accessible and immersive fan experience along with best in class consumer protections that our product offers millions of skin-in-the-game sports fans.”

BetMGM

Wyoming is the 14th state to launch a BetMGM mobile sportsbook.

"We’re ecstatic that BetMGM is one of the first mobile sports betting platforms to launch in Wyoming, just in time for the start of the football season,” said BetMGM CEO Adam Greenblatt in a statement.
“Wyoming is an important state for us as we continue to expand BetMGM’s footprint in the West. We’re confident that its sports fans will enjoy the BetMGM experience.”

Market Structure

Wyoming is the nation’s least-populated state and will likely be a minor player in the national sports betting stage. Still, the business-friendly tax and regulatory structure could influence other states considering legal sports betting regulations.

Wyoming doesn’t cap online sports betting licenses or require tethering to an existing brick-and-mortar entity, so a hypothetically unlimited number of sportsbooks could enter the state.

DraftKings’ fellow daily fantasy sports-turned sportsbook rival FanDuel is another leading Wyoming sports betting license candidate. Other well-known national brands including Barstool Sports and PointsBet have shown interest in the market.

Bally’s officials have said the company’s Bally Bet online sportsbook will expand to every state that it is eligible for licensure. Other casino operator sportsbook brands including WynnBet and Caesars are also aggressively expanding nationwide and could consider Wyoming.