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Wyoming smashes online sports betting records in October

| By Robert Fletcher
Bettors in Wyoming wagered $21.2m (£16.9m/€19.5m) on sports online during October, the highest monthly amount since the Equality State opened its legal market, while revenue also reached an all-time high.
Wyoming October

The October total exceeds the previous record of $19.2m set in Wyoming in September this year. It was also 23.4% higher than October of last year.

Gross gaming revenue for the month amounted to $2.3m, another new record for the state. This is up 15.0% from last year and 53.3% more than $1.5m in September 2023.

There was also an all-time monthly high for taxable gaming revenue of $1.4m. This increased 21.7% from October 2022 and 172.6% from $517,523 in September.

Wyoming players won a total of $19.0m from online sports betting, while tax hit a record $141,087.

DraftKings led the market with $1.4m in revenue from $12.5m. FanDuel placed second in Wyoming with revenue of $402,961 and a $4.9m handle.

Meanwhile, BetMGM posted $378,344 in revenue from $3.5m in online sports bets. Caesars rounded off the market with revenue of $73,028 and a $378,622.

Fanatics set to join Wyoming market

Fanatics Betting and Gaming (FBG) will soon join the pack in Wyoming after taking control of PointsBet US in the state. Ownership of PointsBet Wyoming LLC has been transferred to the FBG division of sports retail giant Fanatics.

The FBG arm of Fanatics struck a deal to acquire the US operations of Fanatics earlier this year. The purchase price of $225.0m (£186.3m/€214.9m) was agreed in June 2023 and PointsBet shareholders approved the deal shortly thereafter.

Transfer of additional US state operations to FBG will take place as approvals are obtained in each state. PointsBet says subsequent completion in this market is tracking as planned.

FBG this week also rolled out its online sportsbook in Virginia, marking the latest phase of its acquisition of PointsBet US.

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