Wyoming is preparing to revisit the potential legalization of online casino gaming in 2025, following a study by Spectrum Gaming Group that highlights the economic benefits iGaming could bring to the state. The study was commissioned by Representative Robert Davis, who plans to reintroduce legislation informed by its findings.
The report projects iGaming revenues to start between $93 million and $138 million in the first year, with growth reaching $162 million to $199 million annually by the fifth year. Tax revenues are expected to range from $20 million to $30 million in year one and rise to $40 million annually by year five.
The study emphasizes that online gambling would likely complement, rather than compete with, existing gambling options in the state. Representative Davis highlighted that this mitigates concerns about cannibalization of traditional gambling venues, such as tribal casinos and horse racing facilities.
Wyoming already has experience regulating gambling through its online sports betting market, which launched in 2021. Since then, the market has generated $518 million in wagers, producing $54.6 million in revenue and yielding $3.2 million in state taxes.
Representative Davis plans to introduce a bill based on the study’s findings, aiming to bring the proposal to the legislature in early 2025. While optimistic about the economic and tax benefits, Davis acknowledges that Wyoming’s traditionally conservative stance on gambling could present challenges. He emphasized the need to gain support from lawmakers in both chambers and address concerns from various stakeholders, including tribal representatives.
Some tribal groups have expressed skepticism about the impact of iGaming on their casinos, arguing that the Spectrum study may not fully account for potential consequences. Davis remains confident that the study provides a compelling case for legalization while respecting the state’s existing regulatory experience.
If approved, legalizing online gambling could transform Wyoming’s gambling landscape, bringing significant economic benefits to its residents. Support from the commercial gaming industry and financial projections suggest strong potential for growth, though the measure’s success will depend on navigating legislative hurdles and balancing the interests of all stakeholders.