Wyoming

Wyoming has one of the smallest population densities in the U.S., but its online sports betting market features five of the biggest mobile operators in the country and could host plenty more.

Finding a team to root for in Wyoming can be difficult due to the absence of professional sports teams. This leaves local college teams like the Wyoming Cowboys as the primary source of high-level basketball and football in the Equality State. With Wyoming's current sports betting layout, bettors can also bet on their favorite in-state colleges without restriction.

Wyoming offers other markets that some states do not, including the ability to wager on the NFL Draft or eSports contests. The two biggest markets unavailable to bet on are politics and entertainment-based events like award shows. Residents or tourists of Wyoming looking for a sports betting alternative can download and use daily fantasy sports apps, which are not regulated by the state but are still allowed.

Online sports betting in The Equality State

Some states need an existing gambling infrastructure to pass a sports betting bill. However, Wyoming lawmakers did not feel that was necessary, as they came out in 2020 with a bill proposal that would legalize online sports betting strictly. Two bills in favor of legal mobile sports wagering came to light in 2020, but neither survived past the committee stage.

After that attempt failed, Wyoming lawmakers did not take long to try again. By early 2021, Governor Mark Gordon could sign HB133 into law, which made online sports betting legal.

With online sports betting given the green light, the Wyoming Gaming Commission hammered out all the rules and regulations for sports wagering in the state and began making applications for licensing open to operators. One of the specific aspects of HB133 was that the state needed to hand out at least five betting licenses.

The Wyoming Gaming Commission can issue unlimited licenses, which could lead to an extensive online betting market. Right now, though, five operators have access to the WY market: BetMGM, Caesars, Fanatics, DraftKings, and FanDuel.

Due to the fact that there are no retail betting facilities in The Equality State, these operators did not need to partner with a betting location to obtain access to the market. The Barstool Sportsbook was trying to enter the market, but with PENN selling Barstool and creating ESPN Bet, it is now expected that ESPN Bet will soon join the state’s market along with the Fanatics Sportsbook.

All legal WY sports betting apps in 2024 (from newest to oldest):

Sports betting & gambling legislation in WY

Wyoming is on the lower side regarding the legal sports betting age, as bettors must be at least 18 to place a legal wager. All bettors 18 or older can utilize remote registration to create accounts on all five mobile betting apps available in Wyoming. The Wyoming Gaming Commission enforces all rules and regulations regarding sports betting in the Equality State.

Now, for as frustrating as a limited market can be for bettors, there is one aspect of the Wyoming sports betting landscape that bettors should be thanking their lucky stars over, and that is the tax rate. The reason they should be thankful for the tax rate on gambling winnings is because there is no tax rate on winnings, so bettors are only subject to the 24% federal tax rate.

Over time, the state has made some amendments to the sports betting bill, but discussions around sports betting have not been extremely prevalent during legislative sessions. This means it could take longer for the state to discuss topics like the legality of iGaming or online poker.

Most recent updates from the WY sports betting scene

• November 19, 2024: The Wyoming Cowboys will look to spoil Boise State's season this weekend when they host the Broncos as (+23) point underdogs.

• November 12, 2024: Coming off a bye week, the Wyoming Cowboys will head to Colorado State on Friday where they are (+10.5) point underdogs.

• October 30, 2024: The Wyoming Cowboys will be on the road this weekend, as they'll head to New Mexico, where they are (+7.5) point underdogs.

• October 15, 2024: Unable to build a two-game winning streak, Wyoming will look to get back in the win column this weekend when they play San Jose State as (+11.5) point underdogs.

• October 9, 2024: Looking to win their second straight game, the Wyoming Cowboys are (+2.5) point home favorites against San Diego State.

• October 1, 2024: Fresh off their first win of the season, the Wyoming Cowboys will enter a bye week before hosting San Diego State.

• September 24, 2024: Through four weeks, the Wyoming Cowboys remain winless, and this weekend, they will host the Air Force Falcons as (+4) point underdogs.

• May 30, 2024: Fanatics Sportsbook has opened operations in Wyoming, becoming the 5th mobile sportsbook available in the state.

In-person sports betting sites and locations

Commercial casinos do not exist in Wyoming, which means the lone option for residents or tourists when it comes to gambling locations is tribal casinos. These tribal casinos cannot offer legal sports betting due to a difference between gambling activity allowed on tribal lands and what is laid out in the state sports betting legislation.

While legal sports wagers cannot be placed at them, Wyoming does have three racetracks for horse racing throughout the state and a dozen off-track betting facilities.

Sports betting in neighboring states

Wyoming is amid a group of states that have limited betting markets. Montana, South Dakota, and Nebraska all offer retail-only wagering and no online betting, while Colorado is the only neighboring state of WY that provides both.

If a Wyoming resident ends up in one of those states, they will find some form of sports betting. If they happen to venture into Utah or Idaho, they will find no sports betting at all. To find out more about why, you can click on the states’ names below.

Sports betting revenue impact on Wyoming's economy

There is no cap on the number of licenses the Wyoming Gaming Commission can issue, and each license has an initial fee of $100,000 and lasts five years. When those five years run out, the renewal fee is $50,000. All operators that receive their license are then subject to the state sports betting tax rate of 10%.

Wyoming is one of the smallest states in the country in terms of population, so even with sports betting being legal since 2021, the state has accumulated just over $36 million in revenue. Between the low population and market that contains only five mobile betting options, Wyoming’s monthly numbers for handle, revenue, and tax income are pretty on par with what one would expect.

For as small as Wyoming is, The Equality State has still outperformed multiple other small states with limited markets. In fact, despite having the lowest estimated population in the country in 2023, Wyoming still produced more sports betting handle and revenue than four other states, including Maine and Montana.

Wyoming sports betting record months:

• Sports betting handle: September 2024 ($22,875,228)

• Revenue: September 2024 ($2,953,222)

• Tax income: January 2024 ($177,183)

Latest WY sports betting revenue report breakdown (September 2024)

Reported by the Wyoming Gaming Commission.

• Total online betting handle: $22,875,228 (All-time high)

• Cash payouts to players: $19,922,006

  • Hold: 6.21%

• Gross revenue: $2,953,222 (All-time high)

  • Adjusted (taxable) revenue: $1,419,938

• Tax revenue for the state: $144,962

Horse racing betting revenue data:

• Live racing betting handle: $154,813

• Simulcast wagering handle: $290,779

• Advance deposit wagering - total wagers placed: $374,296

Top 5 sportsbooks in the state in September 2024:

1. DraftKings: Handle: $13.8m, Revenue: $1.7m

2. FanDuel: Handle: $4.0m, Revenue: $638,018

3. BetMGM: Handle: $3.4m, Revenue: $359,105

4. Fanatics: Handle: $970,823, Revenue: $96,203

5. Caesars: Handle: $663,982, Revenue: $154,122

Recent revenue report data - Compared to the previous year (YoY)

WY sports betting revenue in 2024

Wyoming Gaming Commission reports the state's sports betting handle, gained revenue, and the generated tax income for the state monthly, and all such data coming from the 2024 calendar year is summed up in the table below. In addition, the percentage in brackets in each cell indicates how the betting handle and gained revenue have evolved compared to the previous month.

Yearly revenue data