After a tumultuous year for gambling bills in Wyoming, lawmakers have established a specialised committee to tackle the complexities of gaming regulation. With multiple bills failing, including one aimed at legalising online casinos, this committee aims to provide a dedicated focus to gambling-related legislation for the coming year.
Formation of the Committee
The new select committee will feature six members—three from the Senate and three from the House—co-chaired by Senator John Kolb, Representative Andrew Byron, and Representative Jayme Lien. Previously, various committees shared the responsibility for gambling legislation, leading to inconsistency and insufficient attention.
Failed Legislation
During the last legislative session, several bills seeking to expand gambling options were introduced but ultimately did not pass. Notable among these was a measure to legalise internet casinos, which failed to progress past committee stage. Another proposal that sought to broaden mobile sports betting to include tribal entities was also rejected.
Financial Insights
An analysis by Spectrum Gaming indicated that legalising online gaming could have brought substantial revenue—between $93.4 million and $138.4 million—if initiated in 2024. The projected tax revenues for the state from such a move could range from $141 million to $177 million over several years.
Current Gambling Landscape
Wyoming has permitted mobile sports betting since September 2021 and historical horse racing (HHR) since 2013. Despite some operational growth, tax revenues from sports betting are currently down, highlighting the ongoing challenges within the state’s gaming framework. HHR continues to generate significant revenue, with a handle of $218.4 million noted for March, substantially overshadowing sports betting activity.
Why should I read this?
If you’re interested in the future of gambling legislation in Wyoming, this article is a must-read. It succinctly outlines the reasons behind the formation of a select committee and highlights the state’s untapped potential in online gaming, all while keeping a close eye on current trends in the gaming industry. You won’t want to miss out on what could mean big changes ahead!
