After passing a bill to legalise the segment, the state authorities hope to have sports books operational by the third quarter.
US.- When states were authorised by the Supreme Court to legalise sports betting all across the US, West Virginia had already passed its own bill and is currently finalising the details to regulate the segment. Once it does, it will become the first state in the tri-state area (next to Pennsylvania and Ohio).
While Pennsylvania has already moved forward to get its own sports betting market, West Virginia Lottery public relations manager Randy Burnside announced their goal is “to have sports books operational by the start of football season (September).” That has lit hopes for local operators to lure in gamblers from neighbouring states once the industry is up and running.
“Provided they’re ready to go by the fall, we’re excited to get going when the football season arrives,” Jeff Morris, vice president of public affairs for Penn National Gaming, said about its Hollywood Casino at Charles Town Races and added: “I know we’re excited to be one of the first to have legislation on the books and be ready to go. We’re hoping we can capitalize on that.”
West Virginia is set to beat Pennsylvania to have sports betting operational as its taxation and regulation is more appealing than its neighbour’s. Under the passed bill, the state requires operators to pay a US$100,000 licensing fee and all receipts are subject to a 10 per cent tax. Over in the Keystone State, the proposed licence fee was set at US$10 million and the tax rate at 36 per cent, which may make operators think twice before investing there rather than in West Virginia.
Source – Igaming world