• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Wyoming Proposed Sports Betting Regs Stick To Law, Allow Crypto, Prohibit Proxies

First round of proposed rules don't include application information/process

Jill R. Dorson by Jill R. Dorson
May 10, 2021
in Regulation
Wyoming-Cowboy-Statue

(Shutterstock)

Share on FacebookShare on Twitter

Given a Sept. 1 deadline to get rules approved for its new digital-only sports betting law, the Wyoming Gaming Commission released its first phase of proposed rules and at 9 a.m. Tuesday will hold a virtual stakeholder session to get input.

The rules closely mirror the new sports betting law. No application process is laid out in the draft, though it is not unusual for states to roll out rules in phases.

As is written into the law, the legal wagering age is 18, operators will be taxed at 10% of gross gaming revenue, and sports wagering will be permitting on professional, college, and Olympic sports. There are no payouts to the professional sports leagues and there is no official league data mandate. The new law requires that a minimum of five mobile sports wagering permits be authorized.

The new law requires “a qualified gaming entity” to pay $2,500 and fill out a universal application form for a sports betting operator permit. A qualified gaming entity is defined as digital platform that is active in no less than three states. Wyoming sports betting law then requires a $100,000 license fee (good for five years) with a $50,000 renewal fee. The law seems to imply that no “new” operators will be permitted in Wyoming, only companies that already have live platforms in other U.S. states or jurisdictions, and that those operators will pay the $2,500 application fee up front, followed by the licensing fee. The $2,500 application fee would be among the lowest in the country.

A few items of interest

Among the most noteworthy parts of the new law and draft rules are that bettors will be able to fund accounts with cryptocurrency. The regulations list nine ways (other than cash) that accounts could be funded: travelers checks, foreign currency and coin, certified checks/cashier’s checks/money orders, personal checks, online and mobile payment systems with EFT, credit and debit cards, pre-paid access cards, promotional credit, and winnings.

Some key points that might catch stakeholders’ eyes:

  • Operators are required to have a reserve account, which in and of itself is the norm, but the regulations require that account be in a Wyoming bank or “at minimum” a bank chartered by the state of Wyoming. There are approximately 61 FDIC-insurance banks and credit unions in Wyoming, and most are regional or local vs. national chains.
  • The state will geofence around its five Indian reservations, unless a tribe specifically asks not to be geofenced. What this means is that anyone on a reservation won’t have access to mobile wagering. Four tribal casinos currently operate in Wyoming.
  • Proxy betting is explicitly prohibited.

The rules also touch on responsible gambling. They require the option to allow bettors to self-exclude; prohibit deceptive ads; and require the phrase “minors are not allowed to open or have access to sports wagering accounts” to be included in all advertising. Neither the law nor the regulations indicate how much — if any — money will be earmarked to fund problem gaming initiatives.

ShareTweetShare
Jill R. Dorson

Jill R. Dorson

Jill has covered everything from steeplechase to the NFL and then some during a more than 30-year career in sports journalism. The highlight of her career was covering Oakland Raiders during the Charles Woodson/Jon Gruden era, including the infamous “Snow Bowl” and the Raiders’ 2003 trip to Super Bowl XXXVII. Her specialty these days is covering sports betting legislation across the country. You can reach Jill at jill@bettercollective.com

Related Posts

Shutterstock
Industry

Holey Strokes! Mini-Golf Wagering Approved In Colorado, Wyoming

November 15, 2022
hard rock florida
Legal

Seminoles File Brief Pushing To Be Heard In Florida Sports Betting Case

November 14, 2022
Load More

Top Stories

garnett mgm springfield

Sports Betting Launches In Massachusetts, Giving Three Retail Books A Head Start

January 31, 2023
rob gronkowski adam vinatieri

Rob Gronkowski Goes Training Montage Route In Latest FanDuel Spot

January 17, 2023
fanatics-grand-opening

Fanatics Sportsbook At FedEx Field Offers Unique Retail Option In Maryland

January 23, 2023
Shutterstock

Missouri Legislators Lament Exodus Of Bettors To Neighboring States

January 27, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
January 31, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
February 1, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
October 20, 2022

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

gambling therapy
ncpg
igaming ontario
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (MI/NJ/OH/PA/WV), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN).
19+. Please play responsibly. Terms and conditions apply. 
Individuals must be 19 years of age or older to participate in igaming in Ontario. Gambling can be addictive, please play responsibly. If you, or someone you know, has a gambling problem in Ontario and wants help, please visit ConnexOntario or call their helpline at 1-866-531-2600. Operators on this website operate pursuant to an Operating Agreement with iGaming Ontario.

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News

loading

Please wait while you are redirected to the right page...

Please share your location to continue.

Check our help guide for more info.

share your location