Wyoming could be one of the next states to legalise sports wagering in 2020.
Lawmakers in the state of Wyoming have introduced a piece of legislation that would legalise online and mobile sports wagering in the state.
The bill, titled HB 0225, was introduced on February 12 and is sponsored by Representative Tom Walters and Senator Ogden Driskill.
What’s covered in the bill?
If successful, HB 0225 would authorize online and mobile sports wagering in the state of Wyoming and would aim to create a regulated market no later than January 1, 2021.
In order to offer sports betting in the state, operators would be required to secure a license and would have to pay an initial fee of $20,000. These licenses would be valid for a 12-month period and need to be renewed on an annual basis for a renewal fee of $10,000.
Licensed operators would be subject to a 16% tax rate on monthly online sports betting revenue which must be paid no later than the fifth day of each month. Tax revenue generated from the activity will be deposited into the general fund.
The bill covers a wide selection of bet types including single-game bets, teasers, parlays, moneyline, over-under, pools, exchange betting, in-game betting, in-play bets, proposition wagers and straight bets.
The legislation states that residents in the state must be at least 18 years of age or older in order to place legal bets in the state. Operators that offer sports betting in the state without the necessary licenses would face a civil penalty of $5,000 on the first offence and then $10,000 for any further offences.
Elsewhere in the US
With the introduction of Wyoming’s sports betting bill, there are now 21 US states with active sports betting legislation.
These 21 states include Alaska, Arizona, California Connecticut, Hawaii, Florida, Kansas, Kentucky, Maryland, Massachusetts, Mississippi, Missouri, Nebraska, New York, Ohio, South Dakota, Tennessee, Vermont, Virginia, Washington (state) and Wyoming.
While Mississippi, New York and Tennessee have already legalized sports betting, the proposed legislation in these states would change the existing laws in those states. The bills in Mississippi and New York would allow mobile betting and the bill in Tennessee would clear up the responsibilities of the state’s Sports Wagering Advisory Council.