WVU Professor Has Doubts About Sports Betting

MORGANTOWN, WV (WOAY)-  A West Virginia University professor has his doubts in regards to sports betting with money, but does think that it will bring more viewers to events.

 

According to West Virginia Metro News, West Virginia University economics professor Brad Humphreys said last week  the numbers seem based on little information.

 

According to the West Virginia Lottery, they estimate an $1 billion will be bet in the first year of legalization, in which 95 percent would be returned to the betters. The remaining $50 million would be impacted by a 10 percent tax, meaning $5 million would go to West Virginia.

 

The U.S. Supreme Court last week struck down a federal law banning states from passing sports gambling laws. The West Virginia Legislature passed a bill during the regular legislative session allowing the practice in the state.

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