As the USA is battling to make online gambling legal, casinos are pushing boundaries to make it happen quicker. There is a huge market and allowing online gambling means a lot of traffic. In many states, the bills are still on the table and being argued upon. However, on the 27th of March, West Virginia officially became the fifth state in the US to make online gambling legal.
Governor Jim Justice initially failed to act in favor of the bill 2934. However, after the 15-day time frame within which either the Governor must veto or sign the deal, the bill stands passed by default. Which means that regardless of the arguments and discussions and how it was proposed, West Virginia is now legally allowing online poker and gambling across the state. This is a thing to rejoice for many.
There was a turmoil sprouting up with iGaming markets prospering and casinos trying hard to make the games legal. Then we can find out how the scene will change in the state following this event.
Change of Scenario in West Virginia
It is definitive that the state will follow the examples of other states in this regard. It is expected that their licenses shall be awarded in the same manner as the corresponding land-based casino establishments. It must be kept in mind that just five casinos are able to offer interactive gambling in the state. If you didn’t know which ones are in a position to obtain license immediately this year, here is a list (in no specific order).
- Mardi Gras Casino & Resort
- Hollywood Casino at Charles Town Races
- Wheeling Island Hotel
- The Casino Club at the Greenbrier
- Mountaineer Casino, Racetrack and Resort
If we talk about other things like license fees and taxes, we must take a look at the following figures. It has been strictly put forth that they will be awarded licenses to customers 21 years or above. The one-time fee of obtaining the license will be $250,000 and a renewal fee of $100,000 shall be charged per five years.
On top of that, there are additional charges from the state authority. That is, this will be stressed upon platform and service management partners. Suppliers of games can obtain a license for $10,000 each. After everything, the net profit that the state is expecting to collect from the taxes is expected to accumulate up to 15% rate.
There is a timeframe set for the eventual rollout of this legal online gambling. John Myers, the State Lottery Director, mentions that the licenses will begin rolling out sometime in February 2021. That has been kept in mind after the US presidential elections have passed. However, it should be noted that based on their previous experience, the state was able to get eh gambling industry set into motion soon after the decision from the Supreme Court.
And, they are expecting to see at least one online casino emerging from each of the five casinos out there in the state. These are, though, just speculation and we are not in any position to make a judgment regarding the same.
Future Projections and Recent Changes
In order to keep in pace the iGaming market once the licenses have been awarded, one big thing to remember is, content. The good thing about this is that all these would suggest stability. The five big casinos in the state have one or more partnerships with gaming partners and this makes their live casinos a prosperous investment for interactive and online gambling.
Two of the companies, the Wheeling Island and Mardi Grass had to suspend their online betting activities after a letter from the state. As it has been legalized now, it is expected that they will soon be able to get back on track. With bad timing and loss of opportunities of partnerships going elsewhere the state land-bases casinos had to face a lot of turmoil already.
Five US States that Made Debut
Nevada, Delaware, New Jersey, Pennsylvania, and West Virginia are the five states that have made things legal online. Though online gambling and sports betting is still at its early stages, you have to be clear about the current state in the country. At present, there are five states that have made online gambling legal affairs in the US.
This wasn’t the first one but was a pioneer. New Jersey made online gambling legal in February 2013 and also established their first casino just two months later. But, it was not until October of 2017 that their first shared online poker pool deal was officially announced.
On April of 2013, this state formalized and made their first online poker platform alive. A number of brands and companies have gained their hold in the business thereafter. The formalization was a game changer for the entire country back then.
This was around four years late in the scene. It took state legislators till 2017 to enforce the legal system and officially pass a bill. After that, a lot of regulations had been passed. Online poker, casino, and sports betting are all legal in PA today.
They had just three land-based casinos originally but soon started a full-featured online gambling market in the area. They served a healthy development in the given timeframe. Today, players can enjoy slot games, pool games, and table games just like they like.
And, finally, West Virginia entered its ranks with silent approval. It is yet to see the first licensed casino offering any kind of gaming. The scraped gaming business of Wheeling Island should be the one to start fresh. Rest of them should have their cards up their sleeve. Who knows?
It should serve as examples for other states to join the legal industry and make online gambling a more fun sport than it is today.
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