Wyoming's Online Sports Betting Hits All-Time High in October

Wyoming has set a new benchmark in online sports betting, surpassing the previous record set in September. The total for October soared to an impressive $19.8 million, marking a substantial 23.4% increase from the same month last year. This figure dwarfs the previous record of $19.2 million set just a month earlier in September 2023.

The gross gaming revenue for October hit $2.3 million, another remarkable milestone for the state. This figure reflects a significant 15.0% increase from the previous year and a staggering 53.3% surge compared to September 2023's $1.5 million.

October also witnessed an all-time high for taxable gaming revenue, reaching $1.4 million. This represents a substantial 21.7% increase from the same month in 2022 and an impressive 172.6% surge from September's $517,523.

In the competitive landscape of online sports betting, DraftKings emerged as the market leader in Wyoming, generating $1.4 million in revenue from a substantial $12.5 million. FanDuel secured the second spot with revenue totaling $402,961 and a handle of $4.9 million. Following closely, BetMGM posted revenue of $378,344 from $3.5 million in online sports bets, while Caesars rounded off the market with revenue of $73,028 and a handle of $378,622.

Adding to the excitement, Fanatics Betting and Gaming (FBG) is set to enter the Wyoming market. FBG recently took control of PointsBet US in the state, with the ownership transfer completed. Fanatics, a sports retail giant, acquired PointsBet's US operations for a hefty $225.0 million. This strategic move is part of FBG's expansion plan, with the company rolling out its online sportsbook in Virginia this week, following the acquisition of PointsBet US.