Yes. Sports betting was legalized in 2019 and officially launched March 2020. Unlike most states, sports betting in Montana goes through its lottery system, which didn't have an easy rollout amidst the Coronavirus pandemic.
Through Montana Lottery, bettors are able to place wagers across the state in licensed bars and restaurants where kiosks are available. Mobile sports betting is allowed, but it won't work outside of the licensed bars and restaurants.
Betting can be done via the SportsBet Montana website, which gets odds from Intralot. Given that there is only one place in the state supplying odds, there were plenty of issues upon launch. Sports betting is legal in 2020, but Montana will likely continue to work on their partners and where betting is allowed throughout the state.
Because of the pandemic, there's a chance the state alters its regulations given that no one was able to bet at bars or restaurants, limiting usage of sports betting within the state. That said, changes are unlikely to be made until 2021.
While sports betting is legal, Daily Fantasy Sports are not. In fact, a bill was introduced in 2016 that allowed fantasy sports to be played if they met three requirements: contests last an entire season, have a buy-in for no more than $35 and have games that are played for minimal, non-monetary prizes. However, even that bill was shot down and not allowed to pass. That being the case, it's unlikely fantasy sports are legalized in the near future.
If you're desperate, the Montana Lottery hosts its own fantasy football leagues with expectedly limited prize totals.