Wyoming is one of the latest US states that decided to legalise sports betting and started accepting applications. Right before Wyoming, we’ve reported that Washington approved sports betting in tribal casinos and now it’s up to the final approval. In the meantime, Louisiana House also approved sports betting bills and set out the key provisions.
When it comes to Wyoming, it was announced that the Wyoming Gaming Commission (WGC) is ready to start issuing sports betting licences to potential operators. At the moment, the state is preparing for a September launch.
Details about the licencing process
With a population of fewer than 600,000 people, Wyoming may not be the US’s largest sports betting market, but it surely does things in the right way.
Last week, Gaming Chief Charlie Moore announced that operators like DraftKings, FanDuel and BetMGM have submitted letters of intent to apply for sports betting licences in Wyoming. Then, he explained that sports betting applications will be opened this week. In light of this, the state published details about the licencing process for the operators to follow.
According to WGC, each licence will have to pay an initial price of $100,000 and then contribute an annual renewal fee of $50,000. All gaming revenues will be taxed at 10%, and it’s estimated that the market will reach $450 million on a yearly basis.
Currently, Wyoming plans to launch sports betting on September 1, just in time for the NFL. We might see major operators like FanDuel and DraftKings providing their services in Wyoming, given the fact that they already showed interest.
If the state reaches its goal, it will become the third state to launch sports betting in less than five months. In addition, Wyoming will be the first state to legally accept cryptocurrency for placing sports bets.
BlueBet enters Iowa sports betting market
While some states are working on legalising sports betting, others are expanding their markets and welcoming new operators. We’re talking about BlueBet, an Australian sportsbook operator that has partnered with the Dubuque Racing Association for Iowa market access. You might have heard about Dubuque as it operates the Q Casino.
Subject to regulatory approval, BlueBet will be able to operate a new online sportsbook in Iowa which will be available through its mobile app. The licence includes a starting five-year period and an automated renewal for a further five if BlueBet decides to do so.
As part of the partnership, BlueBet is required to pay a portion of its sports betting revenue to Q Casino and its parent company. Bill Richmond, BlueBet’s chief executive officer, said that this is a significant milestone for the company. He added that BlueBet is taking a staged approach to market entry in the US. Moreover, he explained that BlueBet is looking to expand in other states and is awaiting approval for Virginia.