Wyoming Sportsbook Bill Moves to Senate

Sports betting legislation has been approved by the Wyoming House and moved by the Senate Appropriations Committee to the Senate Floor. Supporters say the state is losing tax revenues to states with sportsbook.

A bill that would legalize sports betting has been moved to the Senate floor by the Appropriations Committee after passing in the House 32-28.

Proponents says they are optimistic of passage.

Rep. Tom Walters, who wrote the bill, told lawmakers “These activities are going on, hosted through illegal offshore accounts. There’s no consumer protections, you could place a wager and win, if the bookie can’t pay, you’re out.”

Supporters argued that Wyoming is losing tax money to Colorado, which is one of the most successful sports betting markets in the West.

Under the bill’s provisions online sports betting would be authorized with at least operators would be allowed. They would need to be qualified in at least three other states. Operators will pay $100,000 for a five year license. Wagers would be taxed at 10 percent, which would go into the general fund.

Wyoming is very aware of competition from Colorado, which took a $326.9 million handle in January and from South Dakota, where sports betting was just legalized in Deadwood. Montana also has sports betting through the Montana Lottery.