FANDUEL JOINS THE LEGAL ONLINE SPORTS BETTING MARKET IN WYOMING
The state of Wyoming went live with legal online sports betting in early September. State Governor Mark Gordon signed off on a list of emergency rules to meet this deadline ahead of the new football season.
The initial operators in Wyoming were DraftKings and BetMGM. Each online book was able to take action on the University of Wyoming’s football season opener against Montana State.
Wyoming is one of the smaller legal markets in the US. However, it could be viewed as one of the more progressive states. The legal age to place sports bets is 18 while most other states have set 21 as the legal age limit.
The Cowboy State remains an online sports betting market only similar to Tennessee and Virginia. The Wyoming Pari-Mutuel Commission is the governing body overseeing the state’s legal sports betting industry.
Wyoming is also open to future industry growth. This state does not have a cap on the number of legal online sportsbooks that can operate in the state.
David Carpenter is the project manager for sports wagering at the Pari-Mutuel Commission. He was quoted by local media sources as saying:
“I would expect by the end of the year or early in 2022, we’ll be upwards of five to six operators. And then I would expect by the end of 2022 we’ll be closer to 10.”
The first expansion of the legal sports betting industry in Wyoming was the recent addition of FanDuel. The biggest legal operator in the US market has recently gotten the green light to go live with its mobile sportsbook app.
While the necessary Wyoming license has been secured, there is no set date for the actual launch. This is according to Kevin Hennessy, an official FanDuel spokesperson. The addition of FanDuel is significant. Wyoming will now offer legal online sports betting through the top three operators in the legal US market. FanDuel continues to lead the way with more than 40% of the US market. When you add in DraftKings and BetMGM, the top three operators command more than 80% of the legal US sports betting market share.
Peter Jackson is the CEO of Flutter Entertainment. This UK-based gaming and entertainment giant is the parent company of FanDuel, which is based in New York City. He recently noted that FanDuel’s national market share in the third quarter was 42%.
When you add in FanDuel’s growing presence in iGaming, the company controls 18% of the entire legal online gaming market in the US.
Written by Dave Schwab, our US Sports Betting Industry Expert. You can learn more about our author's expertise here.
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