$18M in iGaming taxes, $4.9M in sports wagering taxes for West Virginia

West Virginia’s sports betting and iGaming sectors reported a 48 per cent rise in wagers to $365.3 million in April.

iGaming wagers were up by 55 per cent to $326.8 million, whilst sports wagers were up by 7 per cent to $38.5 million in the four weeks to 29 April 2023.

Within West Virginia’s sports betting total, retail wagers were $2.8 million (2022: $5.8 million) and online wagers were $35.7 million (2022: $30.1 million).

 West Virginia has collected $4.9 million in sports wagering taxes and $18 million in taxes on iGaming so far this fiscal year.

West Virginia has seen $3.5 billion in iGaming wagers and $484 million in sports gambling wagers in numbers through May 13.

The four physical casinos in the state also collected $30.4 million off $86.9 million in revenue on table games.

West Virginia charges a 10% tax on sportsbook revenue, with $730,000 this fiscal year going to administration costs and $4.1 million going to the state. The state has seen $417 million in mobile wagers and $67 million in tickets written at the state’s five casinos.

West Virginia, meanwhile, collects 15% privilege tax on iGaming revenue with the state putting $2.7 million in tax toward administrative expenses along with $153,000 toward pension and $15.2 million went to the state.

The iGaming taxes are up from the $12.9 million collected in fiscal year 2022 and $5 million in fiscal year 2021 after wagering opened on Jan. 1, 2021.

https://www.thecentersquare.com/west_virginia/article_5d590f64-fa2d-11ed-b4fc-cfa48b591148.html