The trend of legalizing sports betting in the US continues and the latest states to join the bandwagon are Wyoming and South Dakota. On Monday, the Wyoming Gaming Commission (WGC) approved some rules concerning online sports betting, and South Dakota lawmakers didn’t waste any time approving state rules, either.
Sports Betting Rules in the State of Wyoming
Two days after the period in which public comments on the rules expired, the Commission held a meeting on Monday. At this meeting, the rules on online sports betting, as well as emergency wagering rules for online betting, were adopted and passed unanimously.
The set of final rules has 122 pages and includes nine chapters covering procedures and standards concerning online sports betting and its systems for the state of Wyoming. The chapters contain valuable intel on taxes, payments, internal controls, responsible gaming advertising and everything else that will create a robust market.
Moreover, the languages used in the regular and emergency rules are the same and that was explained by Charles Moore, the WGC’s Executive Director. However, it is important to know that, according to Wyoming law, the emergency rules will expire 120 days after they have been filled with the registrar.
What’s even more interesting is the fact that, after sports betting is launched, Wyoming will be the first US state to accept bets with cryptocurrencies. The only condition is that the digital currency must be able to be converted into cash.
According to Bussmann, the biggest challenge that lies with crypto payments is tracking the deposits and withdrawals so that it will be known where they are coming from.
Wyoming Anxious to Get Started
The sports wagering framework of Wyoming is similar to that of Tennessee as it only allows mobile sportsbooks. When HB 1333 was signed by Mark Gordon, the Governor of Wyoming, he was the first governor to legalize betting on sports in a state in the 2021 calendar year.
While the minimum limit of licenses has been set to five, there is no maximum cap. The Commission will most likely start issuing licenses at the start of the new NFL regular season, which is September 9.
Brendan Bussmann, Global Market Advisors’ partner, stated that Wyoming has established a pretty strong mobile market. In doing so, this state, along with South Dakota managed to prove that reinventing the wheel is not necessary.
South Dakota Also Approved Sports Betting Regulations
After South Dakota decided that it would accept betting applications on July 1, the South Dakota legislature approved a set of regulations concerning sports betting on Monday. These regulations were brought unanimously at a Pierre hearing. Sports betting on a retail basis was also allowed in Deadwood last fall by South Dakota voters.
Minor changes in the rules are set to be made by lawmakers in South Dakota on September 8. On the same day, the South Dakota Commission on Gaming is also likely to approve sportsbook licenses. The objective is to launch sports betting in Deadwood on the NFL season opener between the Tampa Bay Buccaneers and the Dallas Cowboys, which will take place on September 9. However, the Commission isn’t giving much time for sportsbooks to prepare.