Wyoming sports betting revenue falls 15 percent in October

Tuesday, November 19, 2024 1:51 PM
Photo:  Welcome to Wyoming flickr photo by Snap Man shared under a Creative Commons (BY-NC) license
  • Mia Doyle, Special to CDC Gaming

Wyoming’s online sportsbooks collected $1.9 million in revenue in October, the Wyoming Gaming Commission has reported,  marking a 15.2 percent decline from $2.3 million last October.

This comes despite the addition of Fanatics, which contributed $78,613 to October’s revenue total after launching in May. DraftKings led the market with more than $1 million in revenue, followed by FanDuel, BetMGM, Fanatics and Caesars.

Still, Wyoming bettors spent more this October. Handle reached $24.5 million, up 15.1 percent from $21.2 million in October 2023. Sports handle rose around 6.9 percent from September, but revenue fell even more significantly month-on-month. Compared to almost $3 million in September, sportsbooks reported a 34.7 percent revenue drop.

The state’s five online sportsbooks collectively paid more than $95,000 in taxes in October. Wyoming applies a 10 percent tax rate on taxable gaming revenue.

The report also highlights results from historic horse race betting. HHR handle reached $184.4 million in October, a 23.5 percent year-over-year increase.

Skill-based amusement games generated $2.3 million in revenue for October, down 20.9 percent compared to October 2023. Revenues from these machines are taxed at 20 percent and collected more than $460,000 for the state in October.

Mia Doyle is a news writer for Major League Content, covering the latest stories across the casino and sports betting industry. Mia’s specialties include US gambling business, casino technology, and legislation news. Mia also likes to write about responsible gambling and social responsibility.