WV HB3418

Authorizes fixed odds wagering on live dog racing and horse racing through licensed sports wagering operators, allowing bettors to place wagers at predetermined odds rather than pari-mutuel betting

Creates the West Virginia Lottery Fixed Odds Dog Racing Wagering Purse Supplement Fund and a separate fund for horse racing, both held in the State Treasury as interest-bearing accounts

Imposes a 10% tax on licensees' adjusted gross wagering receipts from fixed odds wagering on dog and horse racing, with 50% of collections deposited into the respective purse supplement funds

Distributes dog racing fund revenues annually to the West Virginia Greyhound Breeding Development Fund, while horse racing fund revenues go to thoroughbred racetrack purse funds proportionally based on handle

Prohibits operators from accepting fixed odds wagers from horse or dog owners, trainers, jockeys, their employees, or racing officials participating in the event being wagered upon