News and Analysis
More States Give Online Sports Gambling the Green Light
Wyoming: This week, Wyoming signed into force its new sports betting gambling bill. Bill 0133 legalizes online sports betting and charges Wyoming’s Gambling Commission with developing regulation for the market by September 1st.
The bill also outlines the cost of licenses ($100,000, valid for five years) and the revenue tax rate for operators at 10%: this places Wyoming in a very competitive position (most states have more significant taxes and license fees, see New York below).
New York: Continuing with the developing news of NY sports betting, this week Governor Andrew Como has confirmed the new state budget, which includes the introduction of mobile sports betting.
The budget allows for two gambling licenses (four skins between two operators) and bids open at a whopping $25m—license fee. The scoring criteria is yet to be decided but will include extra points for proposals that include revenue-sharing agreements with Native American tribes. The level of the bids will also determine the revue tax rate for operators.
The New York state gaming commission will open for proposals from operators no later than July 1st and select the winning operators within 150 days.
North Carolina: Senate Bill 688 goes to the vote this week in North Carolina; the bill would see the expansion of online sports betting across the state (currently this is only permitted by Tribal operators), allowing the lottery commission to grant ten new licenses at a cost $25,000 each (valid for five years with a tax revenue rate of 8%). SB 688 would also introduce a self-exclusion program for players in the state.
Slots of the Week
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Okay, guys, that’s it for this week, but we'll be back next Friday with new games and more news. Have a great weekend!