Wyoming legislators are embarking on a new frontier of gambling as they introduce House Bill 120, which seeks to legalize and regulate online casino gaming in the state.
Wyoming Lawmakers Lead Charge in Online Casino Licensing
The bill, spearheaded by Representatives Jon Conrad, Robert Davis, Sandy Newsome, and Tom Walters, marks a significant step following the legalization of sports betting in 2021.
Under the proposed legislation, the Wyoming Gaming Commission would oversee the online casino industry, granting licenses to up to five operators. These licenses come with a hefty price tag, requiring an initial fee of $100,000, along with a renewal fee of $50,000 every five years. Additionally, vendors looking to participate would need to pay an initial fee of $10,000, with a $5,000 renewal fee every five years.
A notable aspect of the bill is the taxation structure, with operators facing a 10% tax rate on their revenues. Furthermore, the legislation sets aside $300,000 annually for problem gambling programs, reflecting a commitment to addressing potential social issues associated with expanded gambling activities.
One intriguing provision of House Bill 120 is the allowance for interstate agreements, enabling licensed operators in Wyoming to form partnerships with those in other states. This move is seen as a strategic response to Wyoming’s relatively small population, potentially fostering larger player pools and enhancing the industry’s viability.
Wyoming, Illinois, Maryland, and Hawaii Forge Paths in Online Gambling Legislation
While Wyoming moves forward with its online casino ambitions, it is part of a broader trend across the United States. States like Illinois, Maryland, and Hawaii are also contemplating or actively pursuing similar initiatives to regulate online gambling within their borders.
In Illinois, lawmakers are considering House Bill 2239, which proposes a licensing framework for online gaming operators. Maryland is evaluating the possibility of legalization through a public referendum, with Sen. Ron Watson championing the cause. Meanwhile, Hawaii is exploring comprehensive gambling reform with Senate Bill 3376, signaling a potential shift in its traditionally anti-gambling stance.
In other news, Wyoming’s online gambling giants, including FanDuel and DraftKings, are pivoting to challenge the legality of fantasy sports leagues, mirroring their past efforts to legalize sports betting. The Wyoming Gaming Commission’s ruling classifying fantasy leagues as illegal gambling platforms has sparked debate over their classification as games of skill or chance.
Critics argue that such regulatory actions may serve to stifle competition and limit consumer choice within the rapidly growing fantasy sports industry.