A proposal to legalize online sports betting in order to raise revenue for Wyoming has cleared a first vote in the Senate after narrowly passing the House earlier this month.
A few days ago the bill passed its first Senate vote and now faces two more votes before it can be forwarded to the governor.
Should it be approved, House Bill 133 directs the Wyoming Gaming Commission to regulate online sports gambling by setting up rules and imposing a 10% tax.
According to supporters of opening up online sports betting, the activity already occurs in the state illicitly and that Wyoming is simply missing out on needed money.
Sen. Jeff Wasserburger, R-Gillette commented in support of the bill during its initial reading in the Senate last week saying that the bill tries to stop the black market that is taking place now, put consumer protections into the bill and then allow people in Wyoming to place bets. He added that it then has a 10% tax on that bet.
The Legislative Service Office revealed that it was tricky to estimate exactly how much revenue legalization of sports betting would create. However, the Gaming Commission estimates the state’s sports wagering market has a $449 million value in Wyoming.
The legislation would transfer a portion of any revenue generated from the gambling program to the Department of Health in order to provide resources for gambling addiction treatment.
A special amendment was proposed by Sen. Affie Ellis, R-Cheyenne to update permit application requirements, but otherwise the bill sailed through the Senate on its final read.