Alaska & Wyoming Ponder Legal Sports Betting; Caesars and Kindred Group agree Multi-Year Deal
Sports betting got big news in the form of two stories in early February. In Wyoming, the process to legalize online sports betting has taken a positive step as state lawmakers will examine a new sports betting bill. This is the first in a series of steps that are necessary to introduce legal sports betting.
The bill proposes the legalization of online and mobile sports betting throughout the state. The bill does not include anything about betting at physical location, meaning Wyoming could be looking at only online wagering similar to New Hampshire and Tennessee.
The HB 0225 was brought forward by Representative Tom Walters and Senator Ogden Driskell on February 12. The bill outlines licensing fees and a monthly 16% tax rate on sports betting revenue.
The bill allows for anyone 18 and older to place sports bets within the state and looks to launch the product no later than January 1, 2021. Alaska also took a major step forward on the same date February 12 as Gov. Mike Dunleavy introduced legislation in an effort to organize an Alaska State Lottery.
The organization known as the Alaska Lottery Corporation would be in charge of the new Alaska State Lottery. This opens the possibility for multi-draw games, instant tickets as well as sports betting. The new source of state revenues would be designated to support education and programs specifically pertaining to drug abuse, senior services, homelessness and domestic violence.
As of right now, Alaska is one of only five states that does not have a lottery. Sports betting bills HB 246 and SB 188 were both introduced at the request of Dunleavy.
Kindred Group, Caesars enter partnership
In other parts of the country, Kindred Group will continue the expansion of its successful sports betting products. The company just signed an agreement with Fortune-500 company Caesars Entertainment, who operate its own sports betting in both Nevada and New Jersey.
The partnership gives Kindred Group, who operate under fellow sports betting brand Unibet, the green light to the Midwest to introduce its products in Iowa and Indiana. This gives Caesars immediate opportunities for sports betting locations.
Kindred Group will partner with Caesars’ Horseshoe Hammond Property in Indiana and Harrah’s Council Bluffs in Iowa. The new agreement brings Kindred’s total number of states to four, with the potential for more in the future.
Kindred went live in New Jersey in September 2019 through a partnership with Hard Rock, while Unibet launched its sports betting in Pennsylvania with Mohegan Sun Pocono a couple months later in November. Though the two will be partners, Caesars will still have the ability to operate its own brand of sports betting in both states.