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To start, this development is not yet confirmed, nor are there important details available yet to provide additional context. However, the magnitude of such a deal is hard to understate. ESPN Chalk's David Payne Purdum reports, "Source: Tentative agreement in West Virginia would give WVU and Marshall a cut of sports betting. Would be first two NCAA programs with such an arrangement. [...] The mechanism for how the fees from West Virginia sports betting would go to the leagues, colleges and/or conferences is still being worked out. Discussions were at least centered on a .25 percent cut of handle." (link)
