Wyoming could join an exclusive list of states permitting online gambling when one legislator introduces legislation in 2025 allowing iGaming, following an extensive study by Wyoming Gaming Commission showing its positive financial benefits without harming existing gambling revenues.
Representative Robert Davis from District 47 recently announced plans to reintroduce House Bill 0120 as another attempt at legalizing online gaming, following recent studies proving its possible financial advantages to states. His original attempt, House Bill 0120 did not pass but recent findings indicated potential advantages iGaming could bring to state finances; hence another legislative push.
The proposed legislation seeks to regulate online gaming within Wyoming under the watchful eyes of the Wyoming Gaming Commission by creating a framework for revenue collection and distribution, along with provisions enabling tribal gaming entities within Wyoming to take part in iGaming markets. It could possibly be discussed during Wyoming’s next legislative session which begins January 14, 2025.
The Significance of Wyoming in the iGaming Landscape
As of now, only seven states have legalized online casinos; Wyoming may join this select club soon due to its small population and potential move towards legalizing iGaming legalization. Other smaller states like Rhode Island and Delaware have already seen success from similar ventures so there may not be an impactful limit to success from such ventures due to population size alone.
Industry analysts are keeping their eye on 2025 as an indication that more states might embrace the concept of online gaming, though larger states would likely benefit more. Even smaller states such as Wyoming could help accelerate further legislative advances across the United States.
Potential Revenue Impacts for Wyoming
Wyoming reported an impressive budget surplus for fiscal 2024 despite having no income tax, due primarily to mineral rights, property, consumption and energy generation taxes. A study estimated that iGaming could generate between $93 million and $138 million of activity within its first year alone before expanding up to generate between $162 million to $199 million by year five; translating into $20-30 million of additional state revenues over five years.
This initiative offers the state an appealing avenue for strengthening their coffers without adding to taxes for residents.
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