Wyoming regulator seeks to allow more sports betting operators next month
yoming legal sports betting launched a few weeks ago, but the state gaming commission is already planning expansion in the near future.
With DraftKings and BetMGM having been launched on September 1 and having seen over $ 6 million in stakes in their first month of business, the number of competitors is likely to increase, as anticipated by David Carpenter, sports betting project manager for the Wyoming Gaming Commission.
According to Eagle Tribune of Wyoming, Carpenter said he “would expect at least one additional operator to be approved âat the November 5 WGC meeting, pointing to FanDuel and Penn National Gaming Barstool Sportsbook. He also pointed out that he had had discussions with PointsPari, which he hopes to have on board in the next six months to a year.
Wyoming is now facing a net loss for its first month of operation, primarily due to the “welcome promotions” that have accompanied the launch of new sports betting in the state. DraftKings, for its part, offered new users a bonus of $ 200 to go with their first deposit, while BetMGM promoted a risk-free bet of up to $ 1,000. Carpenter stated that it is not surprised as this seems to be the typical pattern for the first month.
Carpenter sees competition as the right way to help the state increase its revenues. âFrom a global sports betting perspective, I’ve heard a lot about a total of $ 450 million. Obviously, from what we’ve discussed, we won’t get there. A month later, we are at $ 6 million, and $ 450 million is far away â.
However, even with new competitors on the way, DraftKings plans to continue offering promotions to customers, from odds increases to free pools on topics ranging from sporting events to weather, politics and reality shows.
In terms of sports betting trends in the state, Wyoming was no exception when it comes to the NFL season and its impact on legalized betting markets across the United States. The University of Wyoming was the most-bet college football team on DraftKings, followed by Notre Dame, Alabama, Iowa and Michigan.
Draftkings Head of Sports Betting Johnny Avello pointed out that while Wyoming does not have its own professional football team, there is no reason to believe this should affect betting in the state, and attributes it to the âdiverse range of offeringsâ that DraftKings offers its users.
âIt’s true that people who live in a state like to bet on the teams that reside there, but if they don’t, there is so much content on DraftKings – be it professional football, college , ice hockey, or all of the guess bets that follow, âAvello said.
Even though the state fell below its initial estimates in its first month of operation, the WGC predicted an increase in the handle in the future. However, the goal is, in Carpenter’s words, to “become a leader, not only in the state but at the national level, on the responsible gaming front”.
âI think we are way ahead. We are going to partner with a company called Conscious Gaming and implement our self-exclusion program through something called PlayPause, which will create a national database where all states communicate on self-exclusion. Not just voluntary self-exclusion, but the involuntary type – student-athletes, coaches, things of that nature.
The first $ 300,000 in annual sports betting revenue will go to the Wyoming Department of Health and be used for services related to gambling addiction.