The bill introduced on February 24, 2025, amends the Code of West Virginia to authorize fixed odds wagering on horse and dog racing. It introduces definitions for "fixed odds wager on horse racing" and "fixed odds wager on dog racing," which include various types of bets with predetermined odds. The legislation establishes two special revenue accounts: the "Fixed Odds Horse Racing Wagering Purse Supplement Fund" and the "West Virginia Lottery Fixed Odds Dog Racing Wagering Purse Supplement Fund," which will be funded by a portion of the adjusted gross wagering receipts from fixed odds wagers. The funds will be administered by the West Virginia Lottery and will support purses for thoroughbred racing.

Additionally, the bill outlines a regulatory framework for fixed odds wagering, requiring licensed operators to comply with existing laws, including the Interstate Horseracing Act. It mandates the collection of 10% of the adjusted gross wagering receipts, with specific allocations for the newly created funds, including 50% of the 10% collected from dog racing wagers. The bill also includes provisions to prevent conflicts of interest by prohibiting certain individuals involved in racing from placing wagers on those races. Overall, the legislation aims to enhance the state's sports wagering landscape while ensuring the integrity of the wagering process.

Statutes affected:
Introduced Version: 29-22D-3, 29-22D-4, 29-22D-15a, 29-22D-17a, 29-22D-17b, 29-22D-25