Wyoming Has Made Cryptocurrency Wagering For Online Sports Betting Legal
By Harry B - Crypto Consultant
The bill legalizes sports betting online in Wyoming while allowing bookmakers to welcome cryptocurrency trading as a form of deposit amongst bettors. As an example of this, those participating can start making over the counter Bitcoin (BTC) bets and other crypto payments when gambling on a multiple of sports and games.
With Governor Mark Gordon recently signing the bill, the new rules will officially go into effect on September 1st. Wyoming will soon be the second state in the United States to allow online sports betting. The state legislature approved cryptocurrency investments 2021 as a viable method of depositing funds into online sports betting accounts.
Crypto trading, as well as digital currencies, now qualify as cash payments when betting, as stated in Article 1 of the legislation, i.e., authorised assets that can be converted to cash to be used in online sports wagering.
Aside from using cryptocurrency, bettors may finance their accounts with online sports bookmakers using traveller’s checks, cashier's checks, money orders, and credit cards, among other methods. With that in mind, online sports betting licensees, will in fact have to already provide online wagering services in three U.S. jurisdictions or more so that they can obtain licenses from Wyoming regulators.
Wyoming has been hailed as having a significant chance of challenging Delaware's company incorporation supremacy due to its favourable stance against buying cryptocurrency. Wyoming has exempted cryptocurrency exchange tokens from securities legislation since 2018.