West Virginia Has Received $13M This Fiscal Year in iGaming Taxes

March 6, 2023

Mountaineer News

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CHARLESTON, WV - This fiscal year, the state of West Virginia has generated impressive revenues from both iGaming and sports wagering. The iGaming sector alone has contributed almost $13 million in privilege tax, while the sports betting industry has generated $3.9 million in taxes.

West Virginia was among the first states to permit mobile casino gambling in 2020, allowing its four racetrack casinos and the Greenbrier casino resort to obtain licenses for iGaming.

This fiscal year, the iGaming operators in the state have made a staggering $86.5 million on $2.6 billion in wagers. The state collects taxes at a 15% rate, with $1.9 million going to program administration, $110,000 allocated to pensions, and $10.9 million going to education, seniors, and tourism.

Most of the sports wagering activities in the state have taken place on mobile devices, with mobile wagers totaling $320 million and retail wagers at $57 million.

In February, sportsbooks generated $2.8 million from $39.8 million in wagers, resulting in $278,000 in privilege tax. Of this amount, $237,000 went to the state and $42,000 was allotted for administration.

For the entire fiscal year, sports betting has earned the state $3.3 million, while program administration has received $583,000, all from $377 million in wagers and $38.8 million in profits for sportsbooks.