Wyoming’s legislative session kicked off this week with Rep. Robert Davis filing a bill that could potentially legalize online casinos in the state, Legal Sports Reports reports.
House Bill 162, introduced on Tuesday, fulfills Davis’ earlier promise to reintroduce online casino legislation, a proposal he made public in November.
The filing follows a study by Spectrum Gaming Group, released last year, which highlighted the potential economic benefits of legalizing online casino gambling in Wyoming. This study has brought attention to the possible financial gains for the state, including significant tax revenue. However, whether the bill will pass this session remains uncertain.
Davis, who discussed the matter with PlayUSA last year, explained that the bill would likely serve as an educational effort, similar to the approach taken with sports betting legislation in 2021. He indicated that it could take several legislative sessions before the bill is approved, especially given the current challenges surrounding online gambling regulation in the US However, Davis is optimistic, noting that Wyoming’s regulatory framework could make the bill relatively easy to implement. The proposed legislation would authorize the Wyoming Gaming Commission (WGC) to oversee the rules and regulations for online casinos.
A significant component of the bill directs the WGC to review the regulations for Wyoming’s existing sports betting market and examine how other states with legalized online casinos have structured their laws. The bill suggests adopting a similar regulatory framework to ensure a smooth implementation process.
The legislation would also establish a licensing fee of $100,000 for a five-year term, with a renewal fee of $50,000. Operators with experience in at least three other states where online gambling is legal would be given priority when applying for a license.
One concern that has been raised in other states considering online gambling is the potential for revenue loss at brick-and-mortar casinos. However, Wyoming does not have a large commercial casino industry, with only a few tribal casinos operating in the state, making this a less pressing issue. Still, concerns about market impact remain, particularly for the existing operators in the region.
Online casinos in Wyoming could have significant potential. According to Spectrum’s estimates, the state’s online casino industry could generate up to $138 million in its first year of operation, with the market growing to nearly $200 million as it matures. Additionally, the state could earn approximately $40 million annually in taxes from online gambling.
Wyoming already has experience with online wagering, as it launched sports betting in 2021. The state’s sports betting market has generated $518 million in wagers, with the five online sportsbooks in operation having earned $54.6 million in revenue. This success suggests that there is potential for similar growth in the online casino sector.
