A New Era of Sports Betting Begins in Wyoming

profile image of Dave Grendzynski
Place kicker John Hoyland #46 of the Wyoming Cowboys celebrates with teammates after the Cowboys defeated the Toledo Rockets 16-15 during the Barstool Sports Arizona Bowl. Chris Coduto/Getty Images/AFP

While Wyoming may be the most sparsely populated state in the US, it has always fostered a thriving amateur and college sports scene. 

And, until now, The Cowboy State only provided pari-mutuel betting options for events such as dog and horse racing. But there’s a new game, or should I say games, in town. 

Fanatics Betting and Gaming, a subsidiary of Fanatics Holdings Inc., expands its reach to Wyoming, making it the 21st state where it operates. Adults 21 and over can now download and access the diverse offerings on the Fanatics Sportbook app.

Wyoming Sports Betting Market Ooozing With Potential

The Fanatics Sportsbook is now available in approximately 95% of the addressable online sports bettor market in the U.S.

However, Wyoming is considered an untapped market. Offering everything from fantasy leagues to parlays will present many opportunities for the state and the people there.

Wyoming legalized sports betting in September 2021. DraftKings leads the market, with FanDuel, BetMGM, and Caesars also operating in the state. ESPN Bet has secured a license for entry. As of the latest update, Wyoming’s overall handle from its initial four operators has increased by 29% in 2024 compared to the first four months of 2023, while gross revenue has risen by 35% year over year.

So, although it is the least-populated state to launch sports wagering so far, there is a ton of potential.

Acquiring PointsBet “Supercharged” Fanatics Plan

Fanatics launched in several states following the $225 million acquisition of PointsBet’s U.S. operations. It completed its acquisition of PointsBet in Wyoming last October, while it also did so in New York.

According to Fanatics Betting and Gaming CEO Matt King, this strategic move has supercharged their expansion plans.

Downloading and signing up for the Fanatics Sportsbook in Wyoming offers plenty of incentives. Most notably, you can earn up to 5% FanCash back on every bet placed, win or lose. FanCash can be converted into bonus bet credits or used to purchase sports merchandise directly from the Fanatics.com website. “A customer can place a bet on their favorite team and buy a jersey with FanCash all in one place,” Fanatics Vice President of Communications Kevin Hennessy told PlayUSA.

Online Casinos Not Part of The Launch

While another sportsbook is already live in Wyoming, the state won’t be welcoming online casinos to its gambling market anytime soon

Wyoming lawmakers had hoped to authorize iGaming through House Bill 120, which proposed up to five online gaming licenses regulated by the state’s Gaming Commission. However, the bill faced swift rejection during a short legislative session, leaving open the possibility of revisiting the issue next year during a longer session.

College Prop Bet Ban Not Yet Decided in Wyoming

But something that has not yet been decided in Wyoming is whether or not college prop bets should be banned

Regulators are expected to resume the discussion, and potentially vote, during their next meeting this summer.  This is the Wyoming Gaming Commission’s response to an official request by the NCAA to prohibit the wagering of individual stats like rebounds or rushing yards.