Wyoming regulator approves online sports wagering rules

Wyoming regulator approves online sports wagering rules

The Wyoming Gaming Commission has announced the approval of a series of online sports wagering rules on Monday, setting the stage for the launch of mobile sports betting across the state. This will outline licensure, taxation and more requirements for Wyoming’s sportsbooks operators.

Wyoming mobile-only framework for sports wagering compares favorably with the infrastructure in Tennessee, which prohibits betting through retail sportsbooks.

The rules approved Monday, August 2 needed to be disseminated before September 1st. With more steps ahead, officials are hoping to move things along as quickly as possible to meet September’s deadline.

The commission intends to begin issuing licenses before the start of the NFL regular season on September 9. Even though the state must issue a minimum of 5 licenses, it has not been explicitly established whether there will be a maximum number of licensees.

Upon the launch of sports betting, Wyoming will become the first state nationwide to allow sportsbooks to accept wagers in “digital, crypto and virtual currencies”, as long as the digital wagers can be converted to cash.

The commission held Monday’s meeting two days after a public comment period on the proposed rules expired, to adopt a set of online sports betting rules and a set of emergency online sports wagering rules. Both measures passed unanimously.

Composed of a 122-page set of final rules, the contents are divided into 9 chapters on standards and procedures for online sports wagering and associated wagering systems across the state.

The chapters include sections on auditing and internal controls, responsible gaming advertising, and taxes and payments among others. The emergency rules, however, will no longer be in effect 120 days after they are filed with the state registrar, according to Wyoming law.

“I think Wyoming set forth a strong mobile market. Some of the simpler states legislatively that have done this, aka Wyoming and South Dakota, can show other states that you don’t need to reinvent the wheel,” said Brendan Bussmann, a partner with Global Market Advisors. “I think people have realized that sports betting is a mainstream thing. It’s just a matter of when, not if, at this point that states are going to move,” he said.

Also on Monday, the South Dakota legislature unanimously approved a set of sports betting regulations at a hearing in Pierre. Last fall, South Dakota voters approved a measure that will allow sports betting on a retail-only basis at casinos in Deadwood.

Lawmakers in the state intend on making minor changes to the rules at a hearing on September 8th.

Other jurisdictions in the region are moving closer to going live. There is speculation that several tribes in North Dakota could launch sports gambling in December, while sports betting in Nebraska may become operational early next year.

Source: YogoNet


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