The U.S. Supreme Court last week struck down a federal law banning states from passing sports gambling laws, and the West Virginia Legislature passed a bill during the regular legislative session allowing the practice in the state.
The West Virginia Lottery estimates approximately $1 billion will be bet in the first year of legalization, the remaining $50 million would be impacted by a 10 percent tax, meaning $5 million would go to West Virginia.
West Virginia University economics professor Brad Humphreys said two federal laws which ban internet gambling and betting through the use of wire services could be used to challenge if this form of betting can be allowed.
Humphries believes sports betting, will increase viewership of sporting events, including NASCAR which has been losing viewers.
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