This bill amends the West Virginia Lottery Sports Wagering Act to introduce fixed odds wagering on both dog racing and horse racing. It establishes new definitions for "fixed odds wagering on dog racing" and "fixed odds wagering on horse racing," which involve accepting wagers on live races with predetermined odds. The bill specifies that only licensed operators and gaming facilities can conduct such wagering and outlines the types of wagers permitted. It also mandates compliance with the Interstate Horseracing Act for any wagering content from outside West Virginia and requires consent from the host racetrack and recognized horsemen's group for local races.

Additionally, the bill creates the West Virginia Lottery Fixed Odds Horse Racing Wagering Purse Supplement Fund and the West Virginia Lottery Fixed Odds Dog Racing Wagering Purse Supplement Fund, both of which will receive 50% of the state-collected 10% from licensees' adjusted gross wagering receipts. These funds are intended to support thoroughbred and greyhound racing purses, respectively, and will be managed by the State Treasurer. The bill also includes provisions for penalties related to unlawful operations in sports wagering, prohibiting operators from accepting wagers from individuals directly involved in the racing events. Overall, the legislation aims to enhance the regulatory framework for fixed odds wagering while ensuring the integrity of the wagering process.

Statutes affected:
Introduced Version: 29-22D-3, 29-22D-4, 29-22D-21, 29-22D-15a, 29-22D-17a, 29-22D-17b