The state of Wyoming now has legal sports betting, and two of the biggest names operators were the first to launch. It has been a quick and smooth process to get sports betting up and running, and the state launched in time for the football season.
DraftKings was the first company to launch sports betting, and it did so just minutes after receiving official approval. The Wyoming Gaming Commission was in charge of reviewing license applications and met this week to officially approve licenses.
BetMGM was the next company to receive a license from the WGC, and it launched sports betting just hours after DraftKings. BetMGM has started to make a real push in this industry, and it has constantly searched for new markets.
Both of the companies are expected to have a long list of available betting markets that includes both college and professional sports. Wyoming is not home to any professional sports teams, but the NFL and college football are expected to be the top betting markets.
Other Operators Coming
DraftKings and BetMGM will be able to get off to a fast start due to little competition, but that is not going to be the case forever. More operators should be coming at some point before the end of 2021, and Wyoming is going to attract some of the biggest names.
According to the sports betting rules and regulations in Wyoming, the WGC is required to approve at least five online sportsbooks if there is enough interest. Barstool Sportsbook and FanDuel are expected to apply for a sports betting license at some point, and these companies will be approved.
Lawmakers Didn’t Waste Time
The process of sports betting in Wyoming was extremely quick, and few states have been able to get this done as quickly as Wyoming. This was also a process that started off with little hope but led to a launch in less than six months.
The House of Representatives initially voted down a sports betting bill but then changed their mind just one day later. On April 6, Governor Mark Gordon officially signed a sports betting bill into law, and the WGC quickly went to work to get things set up.
There were some initial concerns about setting a September 1 target launch date for the state of Wyoming, but things eventually worked out.
A Threat to Colorado?
Colorado has enjoyed plenty of success in the sports betting industry since it launched, but it finally has its first real competition in that part of the country. Wyoming is not expected to become a major threat to Colorado, but it will start to have an effect on the number.
The fact that Wyoming only has online-only sports betting will not keep it from challenging the state of Colorado. There are a number of big cities along the border of Wyoming and Colorado, and bettors will be attracted to crossing state lines to sign up for a new account.