Wyoming and Pari-Mutuel Betting: A Love Affair

Wyoming has an interesting past when it comes to gambling which has made its gambling landscape unique, to say the least. A ban on most gambling up until the end of the 20th century led the people of Wyoming to get inventive with their entertainment. While Wyoming has more gambling options now than ever before, the entire state still has a love affair with one of its favorites; pari-mutuel betting.

What is Pari-Mutuel Betting?

Pari-mutuel betting is a unique form of betting where betters place wages directly against other betters instead of the house. For this reason, pari-mutuel betting is often called pool betting because bets go into a pool, and the winners split the pot evenly after the house takes a little off the top. This form of betting is legal in most states, even those with strict gambling laws, and is most commonly associated with horse racing.

Pari-mutuel betting is prevalent in states like Wyoming, where other forms of gambling were illegal for most of the 20th century. It is almost always run, or at least regulated, by the state. Two more characteristics make pari-mutuel betting unique among other gambling. First, it is one of the few forms of gambling you can participate in while not being there in person, and there are off-site betting facilities all around the state. Secondly, the payout isn't determined until after the pool is closed, unlike other betting forms where the odds and payout are decided before you bet.

The History of Pari-Mutuel Betting in Wyoming

The Wyoming Pari-Mutuel Commission was established in 1967 and has operated uninterrupted since. Until the late 1990s, pari-mutuel betting was one of the only legal forms of gambling in the state, and even though tribal casinos offering more options have since been established, it remains a popular form of gambling in the state with pros and casual gamblers alike. Pari-mutuel betting will likely remain stable as off-site betting allows for recreational gambling away from the casinos and helps support the emerging horse racing scene along with general economic stability in Wyoming.

Why Is it Big in Wyoming?

There are many reasons why Wyomingites have a love affair with pari-mutuel betting. The most significant reason is probably the entertainment it provides. We live in an era of digital entertainment, which helps, but there is not much to do outside the home in rural Wyoming. While Wyoming offers four casinos on the Wind River Indian Reservation, it is a big state, and driving to one of those casinos is not always possible. Pari-mutuel betting at an off-site facility allows those who live further from the action to participate in a fun extracurricular activity while socializing.

Another reason Wyomingites love part-mutual gambling is its benefit to the state. While people can bet on live races, a significant portion of income comes from betting on historical horse races. In 2018, betting on live and historical horse racing brought in a staggering 575.5 million dollars, and over 90% of that was returned to the public through state programs. Some of the funds also go toward the upkeep and improvement of Wyoming race tracks, staff, and the care and breeding of horses.

Where Does It Go From Here?

Wyomingite's love for pari-mutuel shows in the continued revenue it brings the state. It has been propping up the Wyoming horse racing industry and will likely continue to do so in the foreseeable future. Wyoming already has three race tracks, with Wyoming Downs being the largest and most active, but continued revenues may lead to more tracks and more off-site betting facilities down the road. Even as the Wyoming gambling landscape continues to evolve, there will always be a place in the hearts of Wyoming residents for the one that started it all.