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According to proposed legislation, the Wyoming Gaming Commission would be responsible for regulating the online gambling industry, issuing licenses to a maximum of five operators.
Wyoming lawmakers have entered the new realm of gambling with House Bill 120, aimed at legalizing and regulating online casino gaming in the state.
Led by Representatives Jon Conrad, Robert Davis, Sandy Newsome, and Tom Walters, the bill follows the legalization of sports betting in 2021.
Under the proposed legislation, the Wyoming Gaming Commission would oversee the online gambling industry, issuing licenses to a maximum of five operators. These licenses come with hefty price tags, requiring an initial fee of $100,000, along with a renewal fee of $50,000 every five years. Additionally, prospective vendors looking to participate would need to pay an initial fee of $10,000 and a renewal fee of $5,000 every five years.
One notable aspect of the bill is the tax structure, with operators facing a 10% tax rate on their revenue. Furthermore, the legislation mandates $300,000 annually for problem gambling programs, reflecting a commitment to addressing potential social issues associated with the expansion of gambling activities.
A noteworthy provision in House Bill 120 is the interstate compact allowance, enabling licensed operators in Wyoming to partner with operators from other states. This move is seen as a strategic response to Wyoming's relatively small population, potentially fostering a larger player pool and enhancing the industry's viability.
Wyoming, Illinois, Maryland, and Hawaii paving the way for online gambling legislation
While Wyoming advances its ambitions for online casinos, this is part of a broader trend across the United States. States like Illinois, Maryland, and Hawaii are also considering or actively pursuing similar measures to regulate online gambling within their borders.
In Illinois, lawmakers are considering House Bill 2239, which proposes a licensing framework for online gaming operators. Maryland is evaluating the possibility of legalization through a referendum, supported by Senator Ron Watson. Meanwhile, Hawaii is exploring comprehensive gambling reform through Senate Bill 3376, indicating a potential shift in its traditional anti-gambling stance.
In other news, online gambling giants in Wyoming, including FanDuel and DraftKings, are turning their attention to challenging the legality of fantasy sports leagues, reflecting their past efforts towards the legalization of sports betting. The Wyoming Gaming Commission's ruling classifying fantasy leagues as illegal gambling platforms has sparked debate about whether they should be classified as skill-based or chance-based games.
Critics argue that such regulatory actions in the rapidly growing fantasy sports industry could stifle competition and limit consumer choice. |
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Post time 6-4-2024 16:49:49