It appears as if sports betting is coming to the state of Wyoming, and a bill could get passed as early as next week. House Bill 133 was quickly approved by the House, and it is currently in the Senate.
Members of the Senate have made some minor amendments to the bill already, and they could make more over the weekend. An official vote is expected to occur as early as Monday, and approval would mean that it goes to Governor Mark Gordon’s desk.
HB 133 creates an online-only sports betting market, and Wyoming would be just the second state in the U.S. to have this kind of market. This bill was initially voted down on March 9 but then was approved the next day in a reconsideration vote.
A pair of representatives in the House also changed their votes just one day apart, providing the difference in sending the bill to the Senate. The Senate is expected to approve of the measure, and Governor Gordon has already pledged his support for sports betting.
Could Provide Plenty of Revenue
Wyoming is the least populated state in the United States, but sports betting should still become a solid revenue source. This state will not challenge some of the top markets in the U.S., but projections estimate that between $2.2 and $4.2 million can be raised each year.
Initially, there was a target launch date of July 1 included with House Bill 133, but that date has now been amended. If the bill becomes a law, lawmakers are hoping to launch sports betting on September 1, just in time for the upcoming NFL season.
Some tribal groups have already started planning for sports betting, as they will be able to do so as soon as the industry is legal.
An Edge over South Dakota
This part of the country has seen plenty of recent growth in sports betting, and South Dakota is expected to launch betting soon. Voters in that state approved a referendum in November 2020, and lawmakers have finally been able to pass a bill.
Even though South Dakota will gain an edge over Wyoming by launching first, that state is only legalizing retail sports betting at this time. All of the sports bets must be made in-person at Deadwood casinos, and some South Dakota residents could choose to head to Wyoming and make a bet online.
No Chance of Catching Colorado
While Wyoming is expected to be a solid sports betting market, the state will not become a real threat to Colorado. The Centennial State has wasted little time becoming one of the biggest sports betting markets in the U.S.
Colorado launched sports betting on May 1, 2020, and the state was able to find success even without live sporting events taking place. Now that sports are back, Colorado continues to set new monthly records.
Wyoming sports bettors are expected to bet on the top teams from Colorado as there are no professional sports teams in the state.