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Online Gambling Bill Introduced to West Virginia

Online Gambling Bill Introduced to West Virginia

West Virginia has introduced its first online gambling bill which would legalise and regulate the industry within the state.

The bill has been sponsored by delegate Shawn Fluharty with Sean Hornbuckle, Mike Pushkin, Joseph Canestraro and Mike Bates. It would legalise online gambling and see it regulated by the West Virginia Lottery Commission. It proposes a tax rate at 14% of gross gaming revenue and the license fee has been set at $50,000. It also states that operators must ensure that gamblers are 21, they are residents of the state and that there are protocols in place to minimise problem gambling and ensure fair play.

There is a long way to go before the bill passes but a report from Morgan Stanley has predicted that West Virginia will be one of twenty states to legalise and regulate online gambling by 2020.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.