Wyoming’s sports betting market cooled slightly in Q2 2025, with handle (total wagers) dropping from Q1’s record-setting pace. But even with a dip in wagers, the state actually collected more tax revenue in Q2, thanks to stronger margins.
Q1 vs. Q2 WY Sports Betting Revenue
| Quarter | Handle | GGR | Taxable Rev | Taxes Paid |
|---|---|---|---|---|
| Q1 2025 | $63,042,680 | $6,143,432 | $3,562,967 | $361,711 |
| Q2 2025 | $45,148,357 | $5,887,859 | $4,225,370 | $422,537 |
Key takeaway: Wagers fell by about $18 million from Q1 to Q2 (no football), but tax revenue jumped 17%. Wyoming sportsbooks didn’t take as much action, but they held onto more of it.
The Winners and Losers of Q2 Betting Apps
Here’s how each sportsbook stacked up for April through June:
🥇 DraftKings: Wyoming’s Juggernaut
- Q2 Wagers: $22.4 million
- Q2 Taxes Paid: $194,433
- Nearly half of every dollar bet in Wyoming goes through DraftKings. Even with slightly slimmer numbers in June, they remain the clear market leader.
🥈 FanDuel: Runner-Up with Room to Grow
- Q2 Wagers: $10.0 million
- Q2 Taxes Paid: $106,413
- FanDuel is a solid second but sits miles behind DraftKings. Its Q2 handle was less than half of its rival’s.
🥉 BetMGM: Third Wheel
- Q2 Wagers: $7.8 million
- Q2 Taxes Paid: $78,650
- BetMGM continues to hold the middle of the pack, posting its best performance in June.
4️⃣ Fanatics: The Upstart
- Q2 Wagers: $2.9 million
- Q2 Taxes Paid: $22,240
- Still small, but Fanatics outpaced Caesars in two of the three months. Slowly building traction.
5️⃣ Caesars: Quietest of the Big Five
- Q2 Wagers: $1.9 million
- Q2 Taxes Paid: $20,700
- Caesars has just 4% of Wyoming’s market — more of a footnote than a competitor at this point.
The Bigger Picture
- Q1 Handle: $63.0M → Q2 Handle: $45.1M (down 28%)
- Q1 GGR: $6.1M → Q2 GGR: $5.9M (down slightly)
- Q1 Taxes: $361K → Q2 Taxes: $423K (up 17%)
So, Wyoming bettors slowed down in spring, but the sportsbooks made their money stretch further, padding the state’s coffers in the process.
Will DraftKings Wyoming Dominance Continue?
DraftKings isn’t just the leader in Wyoming; they’re running laps around the competition. FanDuel is comfortably in second, while BetMGM and Fanatics are battling for third-place relevance. Caesars, meanwhile, is playing a very quiet hand. With the 2025 football season about to begin, it is safe to assume a new challenger to DraftKings is not coming any time soon. ESPNBet has a Wyoming license, but it appears to be gathering dust.
The state, however, is the real winner with over $800,000 in tax revenue collected so far in 2025. Wyoming’s wide-open online sports betting market is proving it can deliver a steady payout.
AntlersArch founder and the voice behind Teton Tattle.
