Wyoming Sports Betting Bill Sails Through Senate Committee Hearing
After catching a second wind earlier this month, a Wyoming Sports betting bill pushed forward Tuesday.
House bills 133 passed on a request for re-examination March 10th, 32-28and made his way to the Wyoming Senate.
This week has the Senate Budget Committee Aside from an unexpected fire drill, he held a relatively undisputed hearing on the bill. The bill is being moved to the Senate, where proponents believe it has a good chance of passing.
Easily read the Wyoming sports betting bill
Bill sponsor MP Tom Walters led the committee through the bill. His message was that the legislation is largely intended for consumer protection.
“These activities are conducted through illegal offshore accounts,” said Walters. “There is no consumer protection, you could place a bet and win, if the bookmaker can’t pay you are out.”
Rep. Landon Brown, A co-sponsor who helped drive the House re-examination vote also spoke out in favor of the bill. But he also cited the consumer protection aspect ColoradoSiphoning Wyoming taxpayers money through legal sports betting.
Wyoming Sports Betting Details
The bill legalizes online sports betting in the state. At least five sports betting operators would be admitted to the Wyoming market with qualifications located in at least three other states.
Walters, who also introduced sports betting legislation last year, said the competitive online marketplace would ban retail locations. He also explained why multiple operators are better for a market than a single operator, such as a state lottery.
“There are two options in a regulated market: a single source is for the state and the other is a competitive market,” said Walters. “Structuring this calculation to convert people into a regulated market, you can do this more in a competitive market structure.”
Operators pay $ 100,000 for a five-year permit with a $ 50,000 Renewal fee.
What’s in Wyoming?
The Wyoming Gaming Commission estimates the state’s sports betting market could do more than that $ 449 million yearly.
A suggestion 10% The tax rate would support the general state fund.
“It certainly won’t solve all of the problems we see in the mineral industry,” said the co-sponsor Sen. Jeff Wasserburger told the Wyoming Tribune Eagle in February of potential gaming revenue. “But it will help a little.”
Jim Willox, President of Wyoming County Commissioners Association, took no position but asked for a change. Willox wants some money that goes to local governments.
Delayed start, if in effect
Wyoming Gaming Commission director Charles Moore sent a letter of concern to the committee.
Moore suggested they hit them July 1, 2021 Sports betting launch date in the state.
“We are very sensitive to this and we understand that we need to prioritize these rules,” said Moore. “But when you consider that we are not in control of the whole process, it’s very difficult to see an obligation to complete this date.”
The committee was sensitive to Moore’s concerns and changed the date September 1.
Operator’s View on Wyoming Sports Betting
DraftKings Director of Legal and Government Affairs Chris Cipolla spoke in support of the bill. In addition to reiterating the consumer protection element, Cipolla also emphasized the popularity of online betting.
- 85% of prepandemic betting in New Jersey were online
- “Almost all” of ColoradoBetting since his May 2020 Start are online
- 88% from PennsylvaniaThe bets in each month of 2020 were online
He also complimented the proposed tax rate, stating that it was modeled on Colorado.
“It’s a reasonable tax rate that recognizes a low-margin and very volatile industry,” said Cipolla.
Keep up with the Jones
Wyoming tries to keep up with some of its neighbors when it comes to sports betting.
Colorado has a $ 326.9 million treat in January. South Dakota Gov. Kristi noem completed last week by signing his Deadwood Betting legislation in law.
Montana is also a legal market for sports betting Intralot by the Montana lottery.