West Virginia is one of the few states in the US that has a legal and regulated gaming market, including lottery, casinos, racetracks, sports betting, and online gaming. The state’s gaming industry generates more than $1 billion annually in sales, and contributes more than $500 million to the state coffers. These funds support various programs and services that benefit the residents of West Virginia, such as education, senior and veteran services, infrastructure, tourism, and the general fund.
Lottery games are popular and profitable
The West Virginia Lottery offers a variety of games to its players, such as scratch-offs, draw games, video lottery, keno, and bingo. According to the West Virginia Lottery website, the lottery has paid out more than $10.5 billion in prizes and more than $4.8 billion in commissions to retailers since its inception in 1986. The lottery also transfers more than $1.5 million per day to the state, which is used to fund education, senior citizen programs, and tourism promotion.
One of the most popular lottery games in West Virginia is video lottery, which is available at licensed bars, taverns, and fraternal organizations. Video lottery machines resemble slot machines, but are connected to a central computer system that determines the outcome of each game. Video lottery games accounted for more than $700 million in sales and more than $300 million in net profit for the state in fiscal year 2020, according to the West Virginia Lottery annual report.
Casinos and racetracks attract tourists and create jobs
West Virginia has five casinos and racetracks, which offer a variety of gaming options, such as slot machines, table games, poker, sports betting, and online gaming. The casinos and racetracks are located near the borders of other states, such as Ohio, Pennsylvania, Maryland, and Virginia, which makes them attractive destinations for out-of-state visitors. According to the West Virginia Lottery, the casinos and racetracks generated more than $500 million in sales and more than $200 million in net profit for the state in fiscal year 2020.
The casinos and racetracks also provide employment and economic benefits to their local communities. According to a report by the American Gaming Association, the gaming industry in West Virginia supported more than 12,000 jobs and $545 million in wages in 2019. The gaming industry also paid more than $200 million in taxes and fees to the state and local governments, and contributed more than $40 million to charitable causes and community projects.
Sports betting and online gaming are the latest trends
West Virginia was one of the first states to legalize sports betting and online gaming, following the Supreme Court’s decision to strike down the federal ban on sports wagering in 2018. Sports betting allows players to place bets on various sporting events, such as football, basketball, baseball, and golf, at licensed casinos and racetracks, or through online platforms and mobile apps. Online gaming, also known as iGaming, allows players to play casino games, such as slots, blackjack, roulette, and poker, on their computers or mobile devices.
Sports betting and online gaming are relatively new additions to the West Virginia gaming market, but they have shown impressive growth and potential. According to the West Virginia Lottery, sports betting and online gaming generated more than $100 million in sales and more than $40 million in net profit for the state in fiscal year 2020. Sports betting and online gaming are expected to continue to expand and innovate, as more players seek convenient and diverse gaming options.
