By February 20, 2018 Read More →

West Virginia Senate votes to fund PEIA with sports betting

By JOSELYN KING

The Intelligencer and Wheeling News-Register

WHEELING, W.Va.  — As teachers and school personnel prepare to strike across West Virginia, partially because of rising health care costs, the state Senate unanimously passed an amendment to direct revenue from sports betting to the Public Employees Insurance Agency’s stabilization fund.

The amendment passed 34-0 Monday, with all senators present. It directs the first $15 million in tax revenue each year from proposed sports betting games to the State Lottery Fund, and it is expected that level would be reached sometime during the second year of sports betting.

The measure was added to Senate Bill 415, legislation that would permit sports betting at West Virginia’s five casinos. The legislation, however, would only go into effect if Congress acts to authorize sports wagering on the national level, or if the U.S. Supreme Court renders an opinion permitting states to start sports betting games.

Read the entire article: http://www.theintelligencer.net/news/top-headlines/2018/02/west-virginia-senate-votes-to-fund-peia-with-sports-betting/

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