West Virginia Sports Betting Rules Approved
From Staff Reports
PARKERSBURG — The rules for sports betting in West Virginia were approved Thursday in an emergency meeting of the West Virginia Lottery Commission.
The commission approved 20 pages of rules and regulations intended to allow wagering on sporting events such as football and basketball games by the start of football season this fall.
The Legislature this year approved sports betting contingent on the United States Supreme Court overturning the 1992 Professional and Amateur Sports Protection Act. The court in May overturned the act that prohibited state-sanctioned betting, except in Nevada.
Facilities eligible in West Virginia are the Wheeling Island Hotel-Casino-Racetrack, Mountaineer Casino Racetrack and Resort, the Hollywood Casino at Charles Town Races in Ranson, W.Va., the Mardi Gras Casino & Resort near Charleston and the Greenbrier Resort in White Sulphur Springs.
The rules were filed with the secretary of state, but were not properly formatted and will have to be refiled, possibly today, Steve Adams, a spokesman for the secretary of state, said.
John Cavacini, of the West Virginia Gaming and Racing Association, which represents the race tracks, said Thursday he had yet to review the 20 pages of rules.
Among the rules:
∫ An authorized casino can begin sports wagering in a temporary sports pool facility for up to nine months if a lounge is under construction.
Extensions can be granted by the lottery commission.
∫ A cash reserve of at least $500,000 is required.
∫ Operators shall only accept online and mobile wagers from patrons that have been affirmatively located as being physically present in West Virginia at the time of their wager.
∫ Have systems in place to monitor unusual betting and money laundering.
∫ House rules will be conspicuously displayed in the sports wagering lounge and online.
∫ Bets can be taken on events for which the outcome can be verified and not affected by any wager placed.
∫ Acceptable forms of cash, chips or vouchers for placing bets.
∫ Adjusted gross sports wagering receipts will be subject to the 10 percent privilege tax.
∫ The casino licensee or its sports pool intermediary may utilize sports pool kiosks for wagering.
∫ The initial license fee will be $100,000.
∫ An interim license approval is good for 270 days from the date of the lottery director’s approval.
∫ The Lottery Director shall approve all advertising in advance of a casino licensee, its sports pool intermediaries, its agents or its affiliates publishing or otherwise releasing such advertisements.
∫ The Lottery Commission may set a certain amount or percentage of revenue that may be used for promotional play, but any excess promotional play offered must be accounted for as taxable revenue.