Published on: December 2, 2024, 06:18h.
Last updated on: December 2, 2024, 06:18h.
A new iGaming legislation may be reintroduced in Wyoming in 2025, potentially allowing the state to join the limited number of states that currently allow online wagering.
Following a gaming expansion study by the Wyoming Gaming Commission (WGC), Rep. Robert Davis (R-District 47) intends to reintroduce iGaming legislation in 2025. This comes after a study conducted by Spectrum Gaming, commissioned by the WGC, showed that online casinos could benefit state revenues without harming other betting activities. Earlier this year, Davis introduced House Bill 0120 (HB0120) to permit iGaming in Wyoming, but the bill did not pass.
According to the bill, it relates to gaming; authorizes interactive gaming; regulates by the Wyoming gaming commission; imposes fees; collects and distributes revenues from interactive gaming; provides for a continuous appropriation; requires rulemaking; sets penalties; and establishes effective dates.
While some tribal gaming leaders in Wyoming have concerns about iGaming, Davis’s previous bill proposed ways for tribal operators to participate in online casinos. The 2025 legislative session in Wyoming starts on Jan. 14.
Significance of Wyoming in iGaming
Currently, only seven states — Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia — allow online casinos. Despite being the smallest state by population, Wyoming’s potential approval for iGaming in 2025 is significant. Rhode Island and Delaware, ranked as the 44th and 45th largest states, respectively, also permit online casinos.
If Wyoming legalizes online casinos early next year, it could indicate progress in legislative efforts for online betting, which lacked momentum in 2024.
Industry experts anticipate increased activity in state-level iGaming legislation in 2025 but are cautious about predicting which states will approve online casinos. While larger states like Illinois and New York are preferred by the industry, Wyoming’s approval would be a positive step, especially for states seeking new revenue sources like iGaming.
Revenue Potential
Wyoming achieved a surplus in its fiscal 2024 budget, but since the state does not have an income tax, new revenue sources are essential. Revenue in Wyoming mainly comes from taxes on mineral rights, property, consumption, and energy generation (including nuclear and wind).
The Spectrum Gaming study suggests that iGaming in Wyoming could generate $93 million to $138 million in the first year, growing to $162 million to $199 million by the fifth year. This would result in new revenue of $20 million to $30 million in the first year, potentially increasing to $40 million by year five.