FanDuel will be the next sportsbook to launch into the Wyoming sports betting market.
The Wyoming Pari-Mutuel Commission unanimously approved FanDuel for operation Friday, effective immediately. FanDuel Sportsbook will launch in Wyoming in the next few weeks.
Nearly three months in the books
FanDuel Sportsbook will get a relatively late start in the market compared to the first market entrants. FanDuel has online sportsbooks in 12 states and is the overall US market leader in sports betting handle.
The pair of operators took $6.2 million in bets during the first month of action. DraftKings and BetMGM generated gross gaming revenue of $954,416. With promotional spending, revenue dipped to -$124,969.
Football accounted for more than half of the first month’s handle, attracting $3.6 million in bets. The October report will be out in the coming weeks.
Wyoming building on first report
Carpenter expects the state’s sportsbooks to move into positive revenue in the next report. He told the commission the negative revenue trend is unlikely to continue.
“October looks very positive, the potential for doubling of wagers and a fraction of the free bet activity,” Wyoming Pari-Mutuel Commission Sports Wagering Project Manager David Carpenter said previously.
He also said he wants to see a full year’s data before outlining trends. During football season, he noted the weekends generate most of the bets.
Not much sports betting to go around
Wyoming is home to the smallest state population in the US. The market is not likely to be a US online sports betting hotbed.
Still, more operators are looking to enter Wyoming.
Penn National Gaming is expected to be on the Wyoming Pari-Mutuel Commission agenda in the near future, likely with the Barstool Sportsbook brand. Carpenter also said other sportsbook operators have expressed interest in the state.