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VIRGINIA SPORTS BETTING

The latest on Virginia sportsbooks, casino gambling and betting news


Virginia sports betting is legal and available online throughout the state.
Sports bettors in VA can access the best sports betting apps without leaving
their homes.

Virginia now offers 15 legal online sportsbooks and three additional sports
betting options at brick-and-mortar casinos, including Bristol Casino, Rivers
Casino Portsmouth, and Caesars Danville Casino. Headwaters Resort and Casino in
Norfolk is scheduled to open in Nov. 2024.  The three operating and
soon-to-be-opening casinos all have slots, table games, poker and more.

Stay tuned to PlayVirginia for the latest news and updates on Virginia’s growing
gaming scene as new sports betting apps and casinos continue to launch in the
Old Dominion.



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INDUSTRY NEWS

REVENUE DROPS IN JUNE, BUT VIRGINIA SPORTS WAGERING STILL OUTPERFORMS LAST YEAR

August 6, 2024

Despite failing to crack the $500 million mark for the first time this year,
Virginia sports betting revenue in June still outpaced last June.

MGM ENJOYS RECORD-BREAKING Q2 2024 DESPITE MARKET SHARE STRUGGLES IN VIRGINIA

August 2, 2024

Although MGM International posted strong quarterly revenue, regional markets
like Virginia remained relatively flat.

CAESARS REPORTS FLAT EARNINGS FOR Q2 BUT BELIEVES NEW VIRGINIA CASINO WILL HELP

August 1, 2024

With Q2 earnings in the doldrums, Caesars execs are looking to the company’s
Danville casino, set to open in December, to increase revenue.

CHURCHILL DOWNS CEO DISAPPROVES OF SKILL GAMES OPERATORS WHO FLOUT LAW

July 31, 2024

The CEO of Churchill Downs took time out from reporting on record quarterly
earnings to raise concerns about illegal skill games.


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VIRGINIA SPORTS BETTING REGULATIONS

In April 2020, the Virginia General Assembly accepted then-Gov. Ralph Northam’s
amendments to HB896/SB384, thereby legalizing online sports betting in Virginia.
The law took effect on July 1, and temporary regulations followed shortly
thereafter. Those regulations were then subject to a public comment period.
Final regulations were published on Sept. 15, 2020.

The bill states it is illegal to bet on youth sports and Virginia college
sports. Additionally, prop betting for college players is prohibited. In-state
college betting could come to Virginia soon if current legislation passes into
law.

Other than that, though, sports bettors have a wide variety of sports and bet
types at all of the betting apps.

In the end, Virginia could offer 19 total sports betting licenses, making the
commonwealth a bettor-friendly market with plenty of options.


WHICH VA SPORTS BETTING SITES ARE LIVE?

The first Virginia online sportsbook to launch in Virginia was FanDuel
Sportsbook back in Jan. 2021, with DraftKings going live soon after. There are
now 15 betting apps to choose from:

 * BallyBet
 * Bet365
 * Betfred Sports
 * BetMGM
 * Betr
 * BetRivers
 * Caesars
 * DraftKings
 * ESPN Bet
 * Fanatics
 * FanDuel
 * Hard Rock Bet
 * Sports Illustrated Sportsbook
 * SuperBook


GETTING STARTED AT LEGAL VIRGINIA SPORTSBOOKS

According to Virginia state law, lottery officials had to choose at least four
applicants to operate as online-only sportsbooks. They can license as many as
12, and those licenses are in addition to the five casino licenses and two
sports franchise licenses.

You can access online sportsbooks in Virginia through either your phone or your
computer. Every sportsbook has app versions for both Android and Apple users.
They also maintain a browser version for the computers.

Regardless of how you choose to access your site of choice, the first thing that
you’ll have to do is confirm your physical location inside the state of
Virginia. Sportsbooks use sophisticated geolocation software to achieve this.


HOW GEOLOCATION VERIFICATION WORKS AND WHAT IT MEANS

Both state and federal law prohibit placing sports bets across state lines.
Believe it or not, this prohibition stretches back to the Kennedy Administration
in the early 1960s.

Authorities place the burden for confirming your location in Virginia squarely
on the shoulders of each sportsbook operator. So, the betting sites in VA each
use geolocation verification software to pinpoint the physical location of your
device.

If you are using a smartphone or tablet, the app will likely use your onboard
GPS to aid in this task. If you are using a computer, you will likely be
required to download a program called GeoComply or something similar so the
sportsbook can confirm your location.

This requirement may seem invasive. However, each sportsbook has its licensure
on the line with enforcing this requirement, so you’ll either comply with the
request, or you won’t be allowed to wager.


VIRGINIA SPORTS BETTING FEATURES AND OPTIONS

Even though competition is fierce between the different sportsbooks, the
operator app have many things in common. This reduces the learning curve for
customers who switch between apps.

Most sportsbooks use this format:

 * Top banner(s): Tabs for the most popular sports, live betting, and odds
   boosts. You may also see an option for promotions here.
 * Left column: A list of the sports onsite. At the very least, the most popular
   sports will be listed, and the menu will either be comprehensive or have an
   option entitled ‘Sports A-Z’ that will lead you to the full list.
 * Middle column or area: This typically features bets or live betting options.
   If the game or games you want to bet on are popular options, such as the
   Super Bowl or other league championships, you’re likely to find them here.
 * Right column: The right side of the display usually contains your bet slip.
   It will auto-populate as you make your selections. If you plan on making a
   parlay wager or one of its variants, you’ll be able to do so here. The bet
   slip is also where you can take advantage of any cash out options the
   sportsbook offers.

If you are new to sports betting below are some term definitions.

Live betting is a form of wagering that takes place on games already in
progress. They are, by definition, proposition wagers, but they offer you the
chance to increase your exposure and/or hedge against bets. technology makes it
possible to see more than 100 bets for every game, including options for the
outcome of individual plays.

A cash-out option is a feature that may appear while a game is still going and
your bet hasn’t settled. The sportsbook will offer you a slightly reduced payout
in exchange for closing the wager out early. The sportsbook wants to do so to
save money; it is already anticipating that you are likely to win. However, you
may want to take the reduced pay because it helps you to guard against any kind
of late collapses or comebacks that could spoil your bet.

Most sports are available to bet on in Virginia. You’ll even find options such
as Irish hurling, futsal, jai alai, and bandy on Virgina online sports betting
sites.

You will also be able to use a variety of methods for banking with the site.
Credit cards, e-checks, e-wallets such as PayPal or Skrill, online bill pay, or
prepaid cards are just some of the options that you will have. Some sportsbooks
offer options to use cash at the casino for an online deposit.


HOW DOES VIRGINIA SPORTS BETTING COMPARE TO NORTH CAROLINA?

Virginia has an established online sports betting industry that has attracted
attention and money from its southern neighbor. That has changed, though. On
March 11, 2024, North Carolina launched online sports betting as well.

North Carolina’s new sports betting industry could present some issues for
Virginia, especially if residents of NC were previously making the trip across
the border to play at VA sportsbooks before NC legalized.

There are eight online sportsbooks currently live in North Carolina, just over
half what Virginia has with its 15 online sportsbooks. DraftKings, FanDuel,
BetMGM, Fanatics, Caesars, and other big names have all entered the North
Carolina market. Like Virginia, NC sports betting is regulated by the state’s
lottery.

One major difference between VA and NC is the availability of college sports
betting. While Virginia does not (yet) allow betting on in-state teams (such as
the University of Virginia and Virginia Tech), North Carolina sports betting has
no such restrictions. This could mean a shift in traffic. While the past few
years have seen some North Carolinians visit Virginia to bet on sports,
Virginians may now be headed south to do the same thing.


VA GAMBLING LAWS AND REGULATIONS

Virginia’s foray into sports betting and casinos is nothing short of remarkable.
To go from a state with very few gambling options to one with both casino
resorts and online sports betting may be one of the most dramatic policy shifts
in recent memory. Both laws were enacted on the same day, April 22, 2020, and
became effective on July 1 of the same year.


SB384 – SPORTS BETTING

Virginia’s law to legalize sports betting is a comprehensive piece of
legislation that created one of the stronger sports betting markets in the
country. The provisions for both online and retail sports betting mean that
there will always be a place to wager on sports in Virginia.

One of the more striking aspects of the law is its unique authorization of
parties who can apply for licensure. Since Virginia had no casinos, there were
no natural gambling operators to identify, so it left room for some legislative
creativity.

The bill specifies that there could be as many as 18 sports betting licenses
active in Virginia. The breakdown of those licenses is as follows:

 * Four to 12 online-only licenses: These licenses are to be awarded to
   applicants selected by the Virginia Lottery. They do not require the
   applicant to have any physical or business connection to the state. Officials
   must approve at least 4, but they can license up to 12. Virginia’s two NASCAR
   tracks are authorized to apply for one of these licenses, too.
 * Five licenses for casinos: Every casino property that becomes a reality in
   Virginia is empowered to apply for a license to offer sports betting. Online
   sports betting, though, has had a headstart on the land-based versions.
 * Two licenses for sports franchises: This last provision is unique. The law
   authorizes the awarding of a sports betting license to any major sports
   franchise that relocates to Virginia or has enough employees paying Virginia
   income tax. FanDuel partnered with the Washington Commanders for this
   license, giving it a first-mover advantage in the state.

All applicants must pay $250,000 for the privilege of applying for a license. In
addition, they must pay $250,000 to receive the license, should they be
approved.

Each license is good for three years. After that period, operators must pay
$200,000 to renew.

TRACKING THE TAXES ON SPORTS BETTING

Along with the fees, permit holders must pay 15% of their adjusted gross revenue
as tax. The tax bill is paid monthly.

In the event of a net loss in a month, the bill authorizes the operators to
carry over those losses.

Virginia has a rather simplistic plan for disbursing the tax receipts that it
receives. The only identified recipient is the Problem Gambling Treatment and
Support Fund, which is due to receive 2.5% of the funds.

The remaining 97.5% of tax revenue goes straight into Virginia’s general fund.
So, unlike the introduction of casinos, Virginia lawmakers clearly mean for
sports betting to infuse cash into the state’s coffers.

PROHIBITED OR LIMITED TYPES OF BETTING

As is the case with any sports betting state, there are a few types of betting
that Virginia has declared to be unacceptable. None of these restrictions are
unique to Virginia, per se, but keep them in mind when placing a bet in Old
Dominion.

‘Youth sports’ cannot be bet on. It is prohibited for Virginia sportsbooks to
offer bet on events involving high school or lower grades. Every other state has
similar prohibitions.

Virginia law also protects college sports inside its borders. Betting on
Virginia college sports is also off-limits, which means that there will be no
in-state betting on schools such as UVA or Virginia Tech University.

Virginia law partially protects collegiate athletes across the country, too.
Proposition betting on college sports of any type is not allowed. Since live
betting is a form of prop bet, that means that you will have to make all your
college bets before the game begins.

OTHER RESTRICTIONS

The only other caveat that Virginia’s sports betting rules have is regarding the
use of league data. Virginia law allows for sports leagues to request that
sportsbook operators use official league data for settling live bets.

However, the onus is on the leagues to provide a source for the league data too.
They must be able to furnish a reliable feed at a reasonable price. Otherwise,
the operators can use whatever source they want.

From a consumer point of view, the only effect that this rule may have in
tangible terms is a slight reduction in the number of sportsbooks available. The
added cost of paying for league data could potentially seal out some of the
smaller providers. However, for the most part, this rule is a technicality for
the operators.


SPORTS BETTING REVENUE AND TAX RATES

Online sportsbook operators in Virginia pay a 15% tax rate on gross revenues.
They also pay a $250,000 fee for a license lasting three years.




IMPORTANT DATES IN VIRGINIA’S GAMBLING HISTORY


OCTOBER 2023

Between October 1 and Oct. 31, 2023, Virginians bet over half a billion dollars,
$571,354,817.  This is an 8.2% increase from a year ago last October.


AUGUST 2023

WynnBET announces plans to close its Virginia sports betting app.


MAY 2023

Caesars Danville Casino opens its temporary facility.


JANUARY 2023

Rivers Casino Portsmouth opens the first fully operational casino in Virginia
and marked the occasion with a grand opening.


JUNE 2022

Hard Rock Bristol launched its temporary casino in July 2022 as construction
expands on the site of the former Bristol Mall.


MAY 2021

After only four months of online sports betting, Virginia became the fastest
state to reach $1 billion in total wagers. From a Jan. 21 launch through the end
of April, the total had reached $865 million.


APRIL 2021

Unibet formally launched in Virginia and brought the total number of operational
sportsbooks in VA to seven. In addition to Unibet, the operators include
FanDuel, DraftKings, William Hill, BetMGM, BetRivers, and WynnBET. However,
thanks to its headstart, FanDuel had accounted for more than half of all wagers
in Virginia through the first few months of online sports betting.


JANUARY 2021

The Virginia Lottery announced sports betting should be live by Super Bowl.
However, they wouldn’t announce which operators will operate in the state. It
was only when FanDuel Sportsbook announced on social media that it would be
launching in Virginia the following day that anyone even knew the market was
ready to go. FanDuel got exclusivity in Virginia for at least a little while
because it partnered with the Washington Football Team for a license, but days
later, more competition entered the fray.


OCTOBER 2020

The deadline for applications passed, and lottery officials were deluged with
submissions. By the commission’s own statements, 25 operators submitted
applications between Oct. 15 and the end of the month. Although the identities
of the operators were officially secret, several big-name players in the market
confirmed that they were part of that group.


SEPTEMBER 2020

After a 35-day comment period on the rules ended in August, the Virginia Lottery
finalized them for the Commonwealth of Virginia. The final draft appeared in
mid-September 2020 and came with the announcement that operators could begin
submitting applications for licenses in a month’s time.


JULY 2020

The Virginia Lottery published its preliminary sports betting rules for public
comment. Several stakeholders, including multiple sportsbook operators and
representatives from major sports leagues, weighed in.


APRIL 2020

After lawmakers debated and incorporated his recommended amendments, Gov. Ralph
Northam formally signed SB 384 into law.


NOVEMBER 2019

The commissioned study estimated that a mature sports betting market in Virginia
could be worth $400 million in additional annual revenue. It placed the date of
maturity at 2028, meaning that Virginia lawmakers could start seeing benefits in
a very short time. The study was the product of independent firms The Innovation
Group and Regulatory Management Counselors, who worked with the Senate’s Joint
Legislative Audit and Review Commission to produce the report.

Delegate Mark D. Sickles (D – House District 43) introduced the first bill to
allow sports betting in Virginia. HB 1638 would’ve allowed up to five
sportsbooks to set up shop in the state, but the bill is quickly tabled in the
House Rules Committee.


MARCH 2019

The Virginia Senate produced SB 1126 to commission an independent report
studying the effects of sports betting in other states. This bill mandated that
legislators have the report in hand by December 2019, and its relatively easy
passage clearly showed which way the wind was blowing in the Commonwealth.


MAY 2018

The US Supreme Court dismissed the Professional and Amateur Sports Protection
Act (PASPA) and paved the way for sports betting on the state level.
Conversations about sports betting began in many states, including Virginia.


VIRGINIA SPORTS BETTING FAQ


HOW OLD DO I HAVE TO BE TO BET ON SPORTS IN VIRGINIA?



Virginia law prohibits sportsbooks from accepting wagers from anyone under the
age of 21.


CAN I BET FROM OUT OF STATE?



No. Interstate betting is prohibited by both state and federal law.

Every time you log onto a VA betting site, you will be required to verify your
location within Virginia. If you cannot do so, you will be denied full access to
the site and will not be allowed to bet. Even if you are falsely being denied
service, the operators have too much on the line to take a chance.


CAN I BET ON COLLEGE SPORTS IN VIRGINIA?



In a limited sense, yes. Colleges that are inside the state are not acceptable
vehicles for your wagers. However, you can make pre-game bets on colleges
outside of Virginia. Prop bets, including live betting, are not permitted for
any college game.


DO I HAVE TO PAY TAXES ON MY WINNINGS?



Yes. Your sports betting winnings are subject to federal, state, and local
taxes. They are considered income, and must be reported properly and accurately.
Though the anonymous and cash-only nature of retail sportsbooks may lead you to
believe that you can skimp on this aspect, online sports betting is completely
trackable and creates an easy-to-follow digital trail for any curious auditors.


ADDITIONAL INFORMATION ON VA SPORTS BETTING

 * VA gambling bills: If you’d like to read the full texts of Virginia’s sports
   betting or casino gambling laws, you can read them here – SB 384 (sports
   betting) and SB 36 (casinos).
 * VA sports betting rules: If you want to dive deeper into the planned
   infrastructure for sports betting, you can read the complete rules here –
   Virginia Lottery Sports Betting Rules
 * VA sports betting public comments: If you’re curious about which groups
   commented about the proposed rules and what they said, check out this page –
   Rules Comment Log
 * Responsible gambling: If you or someone you love is struggling with problem
   gambling in Virginia, here is a helpful page with all the resources in the
   state available to you – Virginia Problem Gambling Services

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