Clicky

West Virginia Speeds Up Online Gaming Plans After Benchmarking in Pa. - PennsylvaniaCasinos.com News : PennsylvaniaCasinos.com News
benchmarking
Published on
Update on

It goes without saying that Pennsylvania is currently one of the most lucrative gambling destinations in the United States. In fact, it has grown so immensely that other states have begun to see it as one of the best benchmarks for their gaming industries. The latest state to consult with the Keystone State is West Virginia.

Regulators from West Virginia met with their Pennsylvanian counterparts in a bid to get a few tips on creating a new regulatory framework for the state’s budding online gambling industry. According to John Myers, the Director of the West Virginia State Lottery, there are quite a number of similarities between the gambling frameworks of both states. For now, the state is focusing most of its efforts on the online gaming industry especially with regards to online poker.

Even so, its sports betting industry has also shown that it has a lot of potential. Online sports betting is already up and running in the state but things have not gone so smoothly for some of the operators. Things have since stabilized but there is a lot that needs to be done to ensure the longevity of the industry.

What Now?

Well, John Myers is confident that now they have enough knowledge to push forward with the state’s online gambling plans. That said, online gamblers in West Virginia should expect to have an operational online poker industry in mid-2020.

“The May to June timeframe, so that will allow us, with the time that we’re allotted to get the permanent rule in place to get beyond the legislative session (in 2021) and file the permanent rule,” the lottery director said.

The lottery which is in charge of the regulation of the gaming industry has a lot of work ahead. Most notably, its officials now have until July 1, 202o to come up with the emergency rules for the online gambling industry.

Huge Revenue Projections

Online gambling officially became legal in West Virginia earlier this year after which the lottery was tasked with designing rules and regulations for the industry. Plans for the industry are now beginning to pick momentum and as expected they have pretty high hopes. There is a lot of money to be made from the industry.

To begin with, the operators will pay $250,000 when they apply for online gambling licenses. These licenses will be valid for five years after which the operators will have the option of renewing them for $100,000. The online casinos will be taxed at 15 percent. This might just be the gamechanger that the state has been waiting for.

Latest Headlines

PGCB Green Lights Cumberland County Category 4 Casino

Pennsylvania’s already massive gambling market has received yet another big boost thanks to a recent move by the state’s gambling control board. Members of the gaming control board unanimously voted to award a Category 4 casino license to the W Cumberland Op. Co., (Greenwood Gaming & Entertainment, Inc, operator of Parx Casino). This will allow […]

Online Gambling Continues to Thrive in Pennsylvania

In 2021, Pennsylvania once again proved that it has one of the most vibrant gambling markets in the United States. Despite all the setbacks that arose as a result of the COVID-19 pandemic, the sector managed to weather the storm well. Recent revenue reports from the state gaming regulator have affirmed that the gambling sector […]

Live! Casino Pittsburgh to Undergo Expansion

It has been a little over a year since Live! Casino Pittsburgh began operating in the Keystone State. After establishing itself in the state, the operator is now looking to do even better through some upgrades. The expansion plans for the Westmoreland property will encompass a variety of new offerings to the facility thus pushing […]

22 December Opening Date Set for Hollywood Casino Morgantown

The Keystone State’s gambling sector will this month add one more casino to its list of operators. Penn National Gaming, Inc.’s highly anticipated casino in Morgantown will finally open its doors to the public on Wednesday, December 22. The launch of the Category 4 Satellite Casino or mini-casino is still pending regulatory approvals but there […]

Pennsylvania Sets Record Commercial Gambling Revenue

The month of October was yet another great month for gaming in the Keystone State. According to the Pennsylvania Gaming Control Boards’ (PGCB) latest press release, the commercial gambling sector in the state brought in a whopping $425,916,762 in October 2021. This is now the highest amount the state brought since July 2021. It also […]

Similar Stories in Gambling

Online Gambling Continues to Thrive in Pennsylvania

In 2021, Pennsylvania once again proved that it has one of the most vibrant gambling markets in the United States. Despite all the setbacks that arose as a result of the COVID-19 pandemic, the sector managed to weather the storm well. Recent revenue reports from the state gaming regulator have affirmed that the gambling sector […]

Pennsylvania Sets Record Commercial Gambling Revenue

The month of October was yet another great month for gaming in the Keystone State. According to the Pennsylvania Gaming Control Boards’ (PGCB) latest press release, the commercial gambling sector in the state brought in a whopping $425,916,762 in October 2021. This is now the highest amount the state brought since July 2021. It also […]

PGCB Reports Total Gaming Revenue for September

The Pennsylvania Gaming Control Board (PGCB) has recently released the revenue figures for the state’s gambling industry in September. Unsurprisingly, the sector is still soaring as it continues to recover from the ravaging impacts of the COVID-19 pandemic. According to the gaming regulator’s press release, the total revenue for gaming and fantasy sports was a […]

MaximBet to Expand Operations in Pennsylvania

Renowned online sports betting operator MaximBet has recently announced that it has secured market access in Pennsylvania and Ohio. This is a huge leap forward for the company as it continues to pursue its very ambitious growth plans across North America. It will be making its debut in the two markets through market deals which […]