Just in time for this year’s NCAA Tournament for men’s college basketball, FanDuel has plans to go live in Wyoming on March 10. This will be the third US-based operator in the state offering a mobile sportsbook app.
Both DraftKings and BetMGM went live with their betting apps in the Cowboy State ahead of last year’s NFL regular-season opener in early September.
Timing Your Sports Betting Launch
Timing a launch with a heightened sports betting event has become a regular marketing strategy in the legal US sports betting industry. Arizona timed its launch of all forms of legal sports betting for Sept. 9 of 2021. This happened to coincide with the first game of the new NFL regular season as well.
The state of New York went live with legal mobile sports betting in early January of this year. This time frame captured the NFL postseason all the way through Super Bowl LVI on Feb. 13.
Arkansas just expanded its sports betting industry with the addition of legal mobile betting through in-state casinos. Southland Casino Racing in West Memphis launched its Betly mobile sports betting app on Saturday, March 5.
Individual sportsbook operators have also adopted this timely marketing strategy. By launching ahead of any major sports betting event, there is an immediate boost in interest. This can create much more momentum for attracting new customers to a book’s betting site and mobile betting app.
Wyoming’s Sports Betting Industry
Wyoming is not one of the biggest sports betting markets in the legal US industry. However, the state’s strategic location in the western part of the country does add appeal to sportsbook operators.
The low cost of doing business in this state also offers widescale appeal. The total fee for a five-year license is just $100,000. Following the five-year term, the renewal rate is $50,000. This same fee structure can run into the multi-millions in other higher profile states.
Wyoming’s tax rate on sports betting revenue is set at 10%. This is much lower than the rate charged in most other states with legal sportsbooks.
State law allows up to five sportsbook operators. Caesars Sportsbook has expressed an interest in entering this market along with Barstool Sportsbook. The next spot should be filled by PointsBet after receiving approval from the state in early February.
The only form of legal sports betting in Wyoming at this time is online through an approved operator’s website or mobile betting app.
There are four tribal casinos in Wyoming that are owned and operated by two different federally recognized gaming tribes. Under the terms of their Class III gaming license, each tribe could offer legal sports betting through retail books in their casinos.
Wyoming Pari-Mutuel Gaming Commission
The state’s regulatory body in charge of overseeing the legal sports betting industry is the Wyoming Pari-Mutuel Gaming Commission.
This commission reported a total sports betting handle of $12.3 million in December of 2021. That betting handle jumped to $14 million in January on the strength of the NFL playoffs. The Super Bowl alone brought in $1.2 million in wagers and $246,987 in revenue.
