Sports betting is already booming across the state of West Virginia and this has been the case ever since the beginning of September. Ever since its launch state lawmakers have been working on elevating the player experience, but for the time being, they appear to be far from the idea of paying Major Leagues the integrity fees they continuously demand.
Estimations are crucial for the operation of every field, especially the gambling one and most recent information has confirmed previously projections regarding the sports betting field of West Virginia. The high levels of popularity of the gambling offering are expected to result in some $16 million over the span of its first 12 months of operation.
This considerable figure immediately drew the attention of Major Leagues across the states as they would also want to capitalize on the increasing interest towards legal wagering on sports events.
Sports Betting Braces for Potential Changes
Across the states considering legalizing sports betting integrity fees have been a sore topic. Lawmaker devising the set of rules which would guide operators and shape the sector are pressed to find a mutually beneficial framework which would meet the expectations of all parties involved in the process. However, it is no secret to anyone that very few of the states actually consider introducing integrity fees to their future regulations or, in West Virginia’s case, to their existing ones.
The so-called integrity fees have been debated across the states, weighing their pros and cons in the long run. They have been considered a fair way of management which would leave all participants satisfied and all parties involved would benefit at the end of the day. A new report issued by the American Gaming Association claims that as much as $4 billion would be generated by Major Leagues to the liking of football, baseball, basketball, and hockey nationwide.
This amount is expected to be accumulated up until the end of the first year of sports betting offering in the states which choose to greenlight it. Earlier this year while the framework for the future field was still debated, Governor Jim Justice proposed a 1-percent integrity fee which was not well-accepted by the State Legislature. The Lottery Commission also expressed its discontent with the proposed measure and for the time being the subject stalls.
Future Plans for the Field
Del. Mike Pushkin, (D) Kanawha stated that the state is not going to benefit in the long run if such portion of the revenue is delegated to the professional sports leagues. Next January is set to see a renewal of the discussion, as the legislature is going to reconvene. When all is said and done, sports betting field in West Virginia is a raving success as since the beginning of its operation as much as $10 million has been generated in bets.
Players are willing to wager in a legal manner and boos the local economy with their bets. Over the span of the past almost two months of operation, state sports books have managed to generate some $200,000 in the form of taxes which are projected to be reinvested in the community.
In the foreseeable future, the state is also going to welcome online sports wagering as well as launch operation of mobile application offering wagering on sports events. The Greenbrier is planning to launch its very own online gambling app in partnership with FanDuel Sportsbook, whereas Hollywood Casino is going to team up with William Hill. This si going to make the sector easily accessible by everyone willing to give it a try.