Wyoming sports betting started with a sizzle in September, with stakeholders hopeful for an upward trend.
The all-online Wyoming sports betting market launched Sept. 1 with DraftKings Sportsbook and BetMGM Sportsbook. In the full first month, the pair of sportsbooks took $6.2 million in bets, according to a report by the Wyoming Pari-Mutuel Commission.
“October looks very positive, the potential for doubling of wagers and a fraction of the free bet activity,” said David Carpenter, sports wagering project manager at the Wyoming Pari-Mutuel Commission.
Free bets take WY sports betting revenue negative
The two sportsbooks reported gross gaming revenue of $954,416, good for a 15.4% hold.
Adjusted to account for sportsbook promotional spending, the net sports betting revenue was -$124,969.
With launch specials tapering out, promotional spending in October likely will drop. New operators likely launching in the next few weeks could send the figure higher again in the coming months.
Football is king in Wyoming
Wyoming bettors were big on football, with $3.6 million bet on the sport in September.
With more than half of the month’s handle on football, it demonstrates why states aim to launch before the lucrative NFL betting season.
Parlays attracted $1.1 million in bets. With the baseball season coming to its peak, Wyoming bettors wagered nearly $1 million on baseball.
New operators coming to Wyoming sports betting?
The Wyoming Pari-Mutuel Commission will meet again Nov. 5. A FanDuel Sportsbook approval vote likely will be on the agenda.
Penn National Gaming’s Barstool Sportsbook also applied to enter the state. Some vendor delays could prevent Barstool from launching in November.
Other operators have also expressed interest in the market, according to Carpenter.
Other new state reports revenue
Wyoming was not the only state to kick off sports betting in September. Neighboring South Dakota also launched sports betting, albeit just at retail sportsbooks in the casino town of Deadwood.
South Dakotans wagered $443,365 on sports at the casinos.