The Wyoming Gaming Commission has released its latest report, providing insights into the performance of the state’s online sports betting market for the month of June. This analysis will delve into key metrics, including the handle, gross gaming revenue, and adjusted taxable revenue, shedding light on the industry’s trends and growth in comparison to previous months.
Handle Metrics:
Examining Wyoming’s online sports betting handle for June, which reached $9.48 million.
Highlighting the month-over-month decline of 25.82% from May’s figure of $12.78 million.
Contrasting the positive year-over-year growth, with June 2022’s handle at $7.32 million, reflecting a robust increase of 29.51%.
Gross Gaming Revenue Insights:
Analyzing the gross gaming revenue generated in June, totaling $775,389.
Unpacking the month-over-month decline of 40.67% from May’s revenue of $1.31 million.
Showcasing the positive year-over-year growth, with June 2022’s revenue at $673,269, marking a commendable increase of 15.17%.
Adjusted Taxable Revenue Overview:
Exploring the adjusted taxable revenue for Wyoming’s sportsbooks in June, which stood at $351,307.
Contrasting this figure with the corresponding metrics from June 2022 ($380,361), indicating a decrease of nearly 8%.
Reflecting on the substantial month-over-month decline of almost 57% from May’s adjusted taxable revenue.
Tax Contributions and Comparisons:
Detailing the monthly tax contribution by Wyoming sportsbook operators, totaling $37,704 in June.
Comparing this with the corresponding figures from June 2022 ($38,036) and May 2023 ($81,448).
Assessing the implications of these contributions on the state’s revenue stream and the industry’s economic impact.
Market Trends and Future Outlook:
Drawing conclusions on the current trends shaping Wyoming’s online sports betting landscape.
Offering insights into the potential factors influencing the month-over-month fluctuations and year-over-year growth.
Considering the future outlook for Wyoming’s sports betting market, taking into account regulatory developments and market dynamics.
Summarizing the key takeaways from Wyoming’s online sports betting performance in June.
Providing a comprehensive overview of the market’s dynamics and its positioning in the broader industry landscape.