This bill amends the West Virginia Lottery Sports Wagering Act to introduce fixed odds wagering on both dog and horse racing. It defines "fixed odds wagering on dog racing" and "fixed odds wagering on horse racing" as the acceptance of wagers on live races with predetermined odds, which can only be conducted by licensed operators and gaming facilities. The bill mandates compliance with the Interstate Horseracing Act for any wagering content from outside West Virginia and requires consent from host racetracks and recognized horsemen's groups for local races. Additionally, it establishes the West Virginia Lottery Fixed Odds Horse Racing Wagering Purse Supplement Fund, which will receive 50% of the state-collected 10% tax on adjusted gross wagering receipts from fixed odds horse racing, aimed at supporting thoroughbred racing purses.

Furthermore, the bill creates the West Virginia Lottery Fixed Odds Dog Racing Wagering Purse Supplement Fund, which will also receive 50% of the 10% tax from fixed odds dog racing and a portion of collections from parlay wagers that include dog racing events. It mandates that all funds collected be deposited into an interest-bearing account, with interest credited back to the fund, and stipulates that any remaining funds at the end of the fiscal year will be distributed to the West Virginia Greyhound Breeding Development Fund. The bill also outlines penalties for unauthorized sports wagering operations, including misdemeanors for operating without authority and felonies for actions like attempting to influence race outcomes. Overall, the legislation aims to enhance the regulatory framework for fixed odds wagering while ensuring compliance and integrity within the industry.

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