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00:00So now let's get into a very small market for sports betting, Wyoming, let's dive in
00:10next here.
00:11I'm seeing an article over on Legal Sports Report about a possible expansion, maybe some
00:15horse racing and some other casino expansion talk as well.
00:19What's the latest there?
00:20Yeah, so earlier this year, the legislator said, hey, we need to get a good gambling
00:24study to see what we can do to better, you know, improve our gambling market here.
00:30And as we know, as we've talked about at length, the next kind of phase of gambling expansion
00:35in the U.S. now that sports betting is in pretty much every market that it will be is
00:39online casino.
00:41And yeah, a lot of this gaming report, which was turned in last week, focuses on kind of
00:45how to make it a better horse racing state, including, you know, simulcasting its races
00:51out of the state and increasing their historical horse racing kind of ecosystem, which of course
00:59is slot machine like machines that are based on historical horse races, which is just bonkers
01:05to me in the first place.
01:08But there was also kind of a lot of talk about online gambling expansion.
01:11It does say, hey, this is probably a good way to make a lot of tax revenue.
01:15It won't cannibalize anything, which that is kind of the key takeaway for other states
01:21that you're seeing a lot of things like Maryland last year, a lot of concern from the brick
01:25and mortar casinos that an online casino market would greatly, you know, hurt their revenue.
01:33And so that's kind of a big takeaway from this report.
01:35I would expect some legislators to introduce online casino legislation sometime early next
01:42year in the early session and see if it gets anywhere.
01:44We'll see.
01:46It is a very small state, to your point, the small state in the union by population.
01:50And so, you know, really, it's not too big of a market mover for anybody, but, you know,
01:58it's still something and we'll see.
02:00But just a little quick note, too, on the online casino cannibalization thing, that
02:06is also kind of reemerging because in New Jersey, this was last month was the first
02:11month online casino revenue or handle surpassed brick and mortar casino revenue handle.
02:18So that's kind of a note and people are like, wait, maybe it is an issue.
02:22So that's going to be something to watch in the future and kind of see some analysts and
02:27how they're taking that number in New Jersey.