The bill amends the West Virginia Lottery Sports Wagering Act to permit fixed odds wagering on horse and dog racing, introducing new sections that define this type of wagering and establish special revenue accounts for both racing categories. It creates the Fixed Odds Horse Racing Wagering Purse Supplement Fund and the Fixed Odds Dog Racing Wagering Purse Supplement Fund, detailing the allocation of proceeds from wagers, including a percentage designated for licensed racetracks and purse payments. The West Virginia Lottery Commission will regulate fixed odds wagering, implementing rules for operators and outlining conditions for banning individuals from wagering, as well as a process for handling complaints and investigations.

Additionally, the bill mandates that 10 percent of licensees' adjusted gross wagering receipts from fixed odds dog racing be collected and distributed in specific ways, with 25 percent of collections from fixed odds wagers (excluding parlays) allocated to the new fund and another 25 percent distributed equally among licensed dog racetracks. All collected funds will be deposited into the Supplement Fund, which will earn interest and be managed similarly to the state General Fund. Within 30 days of each fiscal year, half of the fund's total will be distributed to the West Virginia Greyhound Breeding Development Fund, while the other half will support licensed dog racetracks. The bill also outlines the permissible use of these funds for operational support and capital improvements, reinforcing restrictions on wagering by racing officials to uphold the integrity of racing events.

Statutes affected:
Introduced Version: 29-22D-3, 29-22D-4, 29-22D-15a, 29-22D-17a, 29-22D-17b, 29-22D-25
Committee Substitute: 29-22D-3, 29-22D-4, 29-22D-15a, 29-22D-17a, 29-22D-17b, 29-22D-17c, 29-22D-25
Engrossed Committee Substitute: 29-22D-3, 29-22D-4, 29-22D-15a, 29-22D-17a, 29-22D-17b, 29-22D-17c, 29-22D-25
Enrolled Committee Substitute: 29-22D-3, 29-22D-4, 29-22D-15a, 29-22D-17a, 29-22D-17b, 29-22D-17c, 29-22D-25