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

Are ‘Risk-Free’ Betting Bonuses Misleading Customers? More Regulators Think So

In recent years, numerous states in the United States have legalized online sports betting due to its growing popularity. The so-called “risk-free bet” is only one of the many perks and promotions offered by sportsbooks to lure in new consumers. A risk-free bet is exactly what it sounds like: if you lose your first bet […]

Pennsylvania Court Upholds Pace-O-Matic’s Skill Games as Legal

In 2021, the Monroe County District Attorney’s office conducted illegal raids on the firm and took possession of Pace-O-Matic’s (the company behind Pennsylvania Skill games) assets. Slot machines and other gambling hardware and cash were part of the confiscated property. Last week, Monroe County, Pennsylvania ruled a return of property case in favor of the […]

Pennsylvania Sets New Record with $5.2 Billion in Gambling Revenue for 2022

According to the Pennsylvania Gaming Control Board (PGCB), 2022 saw a record year for gambling earnings. Slot machines, table games, sports betting, internet gambling, video gaming terminals (VGTs), and fantasy competitions brought in a cumulative $5,211,303,191 in 2010, up almost half a billion from the year before, according to the PGCB. Revenue from slot machines […]

WynnBET Casino Receives Approval for Pennsylvania License

WynnBET’s application for a license to operate as an interactive gaming operator was granted by the Pennsylvania Gaming Control Board at their monthly meeting last Wednesday. WynnBET Casino backers in the state have been waiting since October 2021, when the company originally submitted its iGaming application for an online gaming license. With this green light […]

PGCB Launches Campaign for Gambling Adults Who Leave Minors Behind

This year, the Pennsylvania Gaming Control Board has noticed an uptick in the number of instances when individuals have left their children behind while they gambled. Consequently, the gaming board has launched a fresh initiative to address the problem. The purpose of the PGCB’s “Don’t Gamble with Kids” campaign is to raise awareness and discourage […]

Similar Stories in Gambling

Are ‘Risk-Free’ Betting Bonuses Misleading Customers? More Regulators Think So

In recent years, numerous states in the United States have legalized online sports betting due to its growing popularity. The so-called “risk-free bet” is only one of the many perks and promotions offered by sportsbooks to lure in new consumers. A risk-free bet is exactly what it sounds like: if you lose your first bet […]

Pennsylvania Sets New Record with $5.2 Billion in Gambling Revenue for 2022

According to the Pennsylvania Gaming Control Board (PGCB), 2022 saw a record year for gambling earnings. Slot machines, table games, sports betting, internet gambling, video gaming terminals (VGTs), and fantasy competitions brought in a cumulative $5,211,303,191 in 2010, up almost half a billion from the year before, according to the PGCB. Revenue from slot machines […]

PointsBet Receives Top Sports Betting Operator Award

Renowned worldwide online gambling operator and the leading live betting sportsbook, PointsBet has recently received the award for the top sports betting operator at the EGR North America Awards 2022 for the second year in a row. The award comes as a result of the company’s unwavering commitment, impressive scale and development, capacity to innovate […]

Pennsylvania Researchers Release New iGaming Behavior Report

It has been nearly half a decade since the Keystone State greenlit online gambling within its borders. This was a huge deal for the state’s thriving gambling sector. Not only did it mean players would now have access to safer, localized, and regulated online gambling services but also that there was now a new revenue […]