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Can I offer a sports betting product in West Virginia? What are the requirements?

To offer a sports betting product in West Virginia, you must obtain a license from the West Virginia Lottery Commission, ensure that your system meets the requirements set forth by the commission, and comply with other requirements such as providing suitable office space and demonstrating accessibility to disabled individuals.Licensing RequirementsTo operate a sports betting product in West Virginia, you must obtain a license from the West Virginia Lottery Commission [1.1]. The commission may issue up to five licenses to operate West Virginia Lottery sports wagering in accordance with the provisions of this article. No more than five licenses to operate a gaming facility with West Virginia Lottery sports wagering shall be permitted in this state [1.1]. Upon application by a gaming facility and payment of a $100,000 application fee, the commission shall immediately grant a West Virginia Lottery sports wagering license to an operator that provides for the right to conduct West Virginia Lottery sports wagering [1.1]. The applicant must hold a valid racetrack video lottery license issued by the commission, pursuant to §29-22A-1 et seq. of this code, or a valid license to operate a gaming facility, issued by the commission pursuant to §29-25-1 et seq. of this code, and otherwise meet the requirements for licensure under the provisions of this article and the rules of the commission [1.1].System RequirementsAll equipment and software used in conjunction with the operation of a sports pool or online sports pool shall be submitted to an independent testing laboratory or a testing laboratory operated in an accredited jurisdiction approved by the Commission [2.1]. All wagers on sporting events authorized by W.Va. Code §§29-22D-1 et seq., shall be initiated, received, and otherwise made within this State unless otherwise permitted by the Commission in accordance with applicable federal and state laws [2.1]. A sports pool system submission to a testing laboratory shall contain a description of the risk management framework [2.1]. A sports pool system shall maintain all transactional wagering data for a period of five years [2.1]. A sports pool system shall be capable of recording the following information for each wager made [2.1]:Other RequirementsA West Virginia Lottery sports wagering licensee shall execute a surety bond in an amount and in the form approved by the commission, to be given to the state, to guarantee the licensee faithfully makes all payments in accordance with the provisions of this article and rules promulgated by the commission [1.1]. Upon application for a license and annually thereafter, a West Virginia Lottery sports wagering licensee shall submit to the commission an annual audit of the financial transactions and condition of the licensee’s total operations prepared by a certified public accountant in accordance with generally accepted accounting principles and applicable federal and state laws [1.1]. A West Virginia Lottery sports wagering licensee shall provide suitable office space at the sports wagering facility, at no cost, for the commission to perform the duties required of it by this article and the rules of the commission [1.1]. A West Virginia Lottery sports wagering licensee shall demonstrate that its gaming facility with West Virginia Lottery sports wagering will be accessible to disabled individuals, in accordance with applicable federal and state laws, be licensed in accordance with this article, and all other applicable federal, state, and local laws, and meet any other qualifications specified in rules adopted by the commission [1.1].Additionally, an operator shall accept wagers on sports events and other events authorized under this article from persons physically present in a licensed gaming facility where authorized sports wagering occurs, or from persons not physically present who wager by means of electronic devices [1.2]. A person placing a wager shall be at least 21 years of age [1.2]. All operators licensed under this article to conduct West Virginia Lottery sports wagering shall employ a monitoring system utilizing software to identify non-normal irregularities in volume or odds swings which could signal suspicious activities that should require further investigation which shall be immediately reported and investigated by the commission [1.3]. A sports wagering licensee shall conspicuously post a sign at each West Virginia Lottery sports wagering location indicating the minimum and maximum wagers permitted at that location and shall comply with the same [1.4].Therefore, to offer a sports betting product in West Virginia, you must obtain a license from the West Virginia Lottery Commission, ensure that your system meets the requirements set forth by the commission, and comply with other requirements such as providing suitable office space and demonstrating accessibility to disabled individuals.