The invoice will permit these over the age of 18 to be on the NFL, NBA, NHL, MLB and main faculty sports activities, in keeping with native media. It will permit “reputable companies” like DraftKings, BetMGM and FanDuel to acquire licenses and function inside the state. Barstool Sportsbook, PointsBet, theScore and William Hill are additionally on the checklist of firms allowed to do enterprise within the Cowboy State.
Sports betting income might be taxed at 10% and might be allotted in direction of the state’s basic fund, which helps finance Wyoming’s Department of Health, in addition to the county well being departments all through the state. The first $300,000 collected, nonetheless, might be used to assist drawback playing.
Operators might be charged $100,000 to acquire a license and face a $50,000 annual renewal payment. The license might be legitimate for 5 years. Rep. Landon Brown, one of many sponsors of the invoice, estimates that sports activities betting will generate about $400 million value of recent tax income for the state.
With Gordon’s signature, Wyoming joins South Dakota because the second state within the nation to legalize sports activities betting this yr. South Dakota Gov. Kristi Noem signed a invoice that legalized sports activities betting in Deadwood, however voters already permitted it final November by means of a poll referendum.
Several weeks in the past, Wyoming’s sports activities betting invoice appeared prefer it had no path to legalization. In March, the Wyoming House of Representatives initially voted towards the invoice by a 32-28 margin. But one of many members who initially voted towards it then submitted a measure for reconsideration, which gave the invoice a second probability to go.
A day later, the identical physique voted 32-28 in favor of the laws, which despatched the invoice to the Senate. The Senate in the end handed the invoice earlier than Gordon signed it into regulation.
Wyoming joins Tennessee as the one two states within the nation with an online-only sports activities betting market. Its market is predicted to roll out this September, which might make it one of many quickest states to maneuver from legalization to launch.