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Mississippi and West Virginia push ahead with sports betting

6/22/2018
Mississippi and West Virginia are the latest states to fast-track sports betting, with both hoping to accept wagers before the start of the football season.

Mississippi will take sports bets at casinos at the end of July after a unanimous decision by the state’s gaming commission on Thursday.

Punters will be able to place bets on professional, college, and amateur sporting events. Casinos will pay 12% state and local taxes on all wagers minus payouts.

The Commission will requires casinos to report suspicious bets of more than $5,000 and gather information on those who win more than $10,000. Bets from coaches or athletes will be forbidden.

Mississippi's decision comes after the US Supreme Court in May repealed the Professional and Amateur Sports Provision Act 1992 (PASPA). Deleware, New Jersey and Rhode Island have also moved quickly to accept bets.

In West Virginia, the Lottery Commission approved 20 pages of regulations in an emergency meeting on Thursday. The state hopes to offer sports betting in time for the football season, Lottery Commissioner Alan Larrick said.

Casinos can apply for a sports book licence for $100,000. West Virginia’s tax rate is 10%. By the fifth year of operation, West Virginia hopes sports betting will generate $235 million in gross wagering revenues.

Although New York failed to pass a sports betting law before the legislative session ended, there is speculation that the state’s four casinos could operate sports betting under a 2013 law, but that would require the approval of regulators.
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