The state of Wyoming achieved a new milestone in online sports wagering during the month of October.
Wyoming’s sports bettors placed a total of $21.2 million (£16.9 million/€19.5 million) in online sports bets in October, marking the highest monthly sum since the state legalized its sports betting market. Earnings also reached an unprecedented peak.
The October figure surpassed the previous record of $19.2 million set by Wyoming in September. It also represented a 23.4% increase compared to the same month the previous year.
Gross gaming income for the month amounted to $2.3 million, establishing another record for the state. This figure was 15.0% higher than the previous year and 53.3% higher than September 2023’s $1.5 million.
Taxable gaming revenue also reached a record high of $1.4 million. This represented a 21.7% increase from October 2022 and a staggering 172.6% increase from September’s $517,523.
Wyoming’s bettors won a total of $19 million from online sports betting, while taxes reached a record high of $141,087.
DraftKings dominated the market with $12.5 million in wagers and $1.4 million in revenue. FanDuel came in second in Wyoming with $402,961 in revenue and $4.9 million in wagers.
Meanwhile, BetMGM generated $378,344 in revenue from $3.5 million in online sports betting. Caesars rounded out the market with $378,622 in wagers and $73,028 in revenue.
Fanatics will soon enter the Wyoming market
Fanatics Betting and Gaming (FBG) will soon join the Wyoming market after acquiring PointsBet US in the state.
The sports retail giant, Fanatics, has acquired PointsBet Wyoming LLC through its FBG division.
Earlier this year, FBG struck a deal to purchase Fanatics’ US operations. The agreement, valued at $225 million, was finalized in June 2023 after PointsBet stockholders gave their approval.
FBG will assume control of operations in other US states as they receive authorization. PointsBet confirmed that they are on schedule to complete the transition.
This week, FBG unveiled its online sports betting platform in Virginia, marking another milestone in their acquisition of PointsBet US.
