While the state law sets the tax rate for online casino gaming at 15 percent of adjusted gross revenue, Myers said he expects the total revenue to be close to what sports betting generates. The state taxes sports betting at 10 percent.<\/p>\n
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Through the week ending on Dec. 14, West Virginia\u2019s sportsbooks have handled nearly $129.6 million in bets for fiscal year 2020, which started on July 1. That\u2019s according to figures released by the state lottery. The sportsbooks have generated more than $12.3 million in revenue, which translates to $1.2 million in taxes.<\/p>\n<\/div>\n
Online sports betting has been operational in West Virginia since the end of August. In that time, FanDuel and DraftKings, the two mobile apps available in the state, have reported a handle of $49.9 million. The apps have accounted for nearly 76 percent of all sports bets placed in the state since late August.<\/p>\n
DraftKings holds a 56.4 percent share of the West Virginia mobile sports betting market.<\/p>\n","protected":false},"excerpt":{"rendered":"
West Virginia looks ready to become the fourth state in the country that will offer Internet-based casino gaming. The West Virginia MetroNews Network reported Wednesday that officials from the state\u2019s lottery traveled to Pennsylvania recently to meet with their lottery colleagues from The Keystone State. West Virginia officials learned from their colleagues the platform used […]<\/p>\n","protected":false},"author":45,"featured_media":123136,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19,20],"tags":[],"acf":[],"yoast_head":"\n
West Virginia Lottery Officials Begin Work on Online Casino Regulations<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n