Casper’s C85 Pump Room is likely to be the next destination for pari-mutuel betting after the commissioners in Natrona County gave the green light last week. To do that, the north portion of the Casper building, which is a liquor store, will be used for the new off-track pari-mutuel betting site.
The Wyoming Gaming Commission Needs to Approve the License
307 Horse Racing is the name of the company that will open up its betting site, which will be its first in the county. It also has several spots in Wyoming Downs and at North Poplar Street’s Horse Palace. However, before 307 Horse Racing opens up its betting facility, the Wyoming Gaming Commission will have to issue the license. The WGC started handing out licenses during the summer, after presenting its plan for legalizing sports betting quite fast.
As for the county commissioners board, it okayed the location during a meeting last week, but it also found out that there were quite a few other pari-mutuel locations in the region that did not go through the application process.
The stature states that permits for pari-mutuel betting are approved by location. In most cases, these locations are inside restaurants and bars and part of the process of licensing is that the applications need to be processed by both the county government and the state’s gaming commission – the Wyoming Gaming Commission.
The New Location Could Generate $10 Million in Bets Annually
307 Horse Racing did a study to determine how profitable the new location would be, and as its data indicated, it has the potential to generate as much as $10 million in extra bets in the county. That equals around $1 million in tax revenue, although such estimates are not entirely accurate, as the tax revenue is calculated based on the amount held and taxed, not the amount wagered.
This will prove to be a massive boost to the country’s public purse. In the first half of 2021, the total tax revenue from historic horse racing was $740,000. State data also says that the only Wyoming Downs location in Evansville contributed $245,500 in tax revenue, two facilities in Mills contributed $85,000 while the Hangar restaurant betting kiosk in Bar Nunn contributed $260.
Currently, off-track betting in Wyoming is hosted in Evansville, Rock Springs, Casper, Evanston, Green River, Gillette, Sheridan, and Cheyenne. Two resolutions, which were passed in 2014 and 2020 allowed Wyoming Downs and Wyoming Horse Racing to operate in any county location.
This is challenged by Eric Nelson, an attorney from Natrona County, who stated on Thursday that the commissioners are looking to review each application on a “case-to-case basis” and possibly, repel the said resolutions.
The state of Wyoming also recently opened the door for major operators, as BetMGM, Genius Sports, and DraftKings entered the market.