FanDuel Launches Wyoming Sports Betting, Caesars Next?

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Wyoming sports betting

Wyoming sports betting will likely see an influx of live sportsbooks in the coming months.

FanDuel Sportsbook launched in the state last week, nearly four months after the operator was approved by the Wyoming Pari-Mutuel Commission. The sportsbook is now live in 15 states.

FanDuel is the third operator taking bets for WY sports betting, which opened sports betting Sept. 1, 2021, with DraftKings and BetMGM. In the next few months, Wyoming Pari-Mutuel Commission Sports Wagering Project Manager David Carpenter expects both PointsBet and Barstool Sportsbook to launch.

More WY sportsbooks coming

Regulators approved PointsBet in February, and Carpenter expects the sportsbook to launch in April or May. 

Barstool will be on the commission agenda soon, Carpenter said. Once approved, he said it should be a quick path to launch.

Caesars Sportsbook recently became the sixth sportsbook to submit an application.

Wyoming sports betting totals grow

In January, Wyoming sportsbooks took nearly $14 million in bets, holding 7.8% for $1.1 million in gross revenue, according to a Wyoming Pari-Mutuel Commission report this week. Sportsbooks did shell out $632,808 in promo spending, bringing adjusted revenue to $464,652.

The handle was up 13.8% compared to December’s. 

Since launch, Wyomingites have bet $54.3 million and sportsbooks have held 9.4% for $5.1 million in gross sports betting revenue.

Wyoming Super Bowl betting

Sportsbooks took $1.12 million in Super Bowl bets, according to a special report from the Wyoming Pari-Mutuel Commission. 

The sportsbooks held 22%, generating $246,987 in revenue. 

The full February report will be released at a later date.

Small state or slow to mature?

Wyoming is the smallest state in the US, but Carpenter thinks there are more untapped sports bettors in the state.

He said there are approximately 20,000 sports betting accounts in Wyoming, according to GeoComply data. That is approximately less than 4% of the population, much lower than his estimated 10% estimate.

“I think it’s just been slow-moving,” Carpenter said, who also mentioned anecdotally that some people were waiting for FanDuel.