Virginia has granted approval to Betway and 888 Sportsbook, allowing them to operate their online sportsbooks in the state.
Each entity was recently granted temporary permits by the Virginia Lottery.
Once they are operational and ready to take bets in Virginia, these two entities would be the 12th and 13th sports betting operators in the state.
The question lingers: Who will be awarded the last two sports betting licenses in Virginia?
About Betway Virginia and 888 Sportsbook
The approvals that were granted last week coincided with the Thanksgiving holiday. They encompassed the following:
- On November 24th, Betway Virginia, operated by Digital Gaming Corporation VA, LLC,
- On November 25th, 888 Sportsbook (VHL, VA LLC)
Virginia is finally set to witness the launch of five sportsbooks after a lengthy wait of three-and-a-half months. Golden Nugget made its debut on Oct. 13, followed by Bally Bet on Nov. 24. PointsBet has also received approval for its launch, thanks to its partnership with the Colonial Downs Group.
Betway Virginia and 888 Sportsbook are expected to launch soon as they have also received approval, although officials have not yet announced a specific date for their releases.
Below is the comprehensive list of approved VA sportsbooks and their respective launch dates:
| Sportsbook | Permit approval date | Launch date |
|---|---|---|
| FanDuel | 1/20/2021 | 1/21/2021 |
| DraftKings | 1/24/2021 | 1/24/2021 |
| BetMGM | 1/24/2021 | 1/27/2021 |
| BetRivers | 1/26/2021 | 1/27/2021 |
| Caesars (formerly William Hill) | 1/27/2021 | 2/2/2021 |
| WynnBET | 3/4/2021 | 3/11/2021 |
| Unibet | 4/21/2021 | 4/28/2021 |
| Barstool | 3/15/2021 | 8/10/2021 |
| Golden Nugget | 3/15/2021 | 10/13/2021 |
| Bally Bet | 3/15/2021 | 11/24/2021 |
| PointsBet | 11/22/2021 | 12/15/2021 |
| Hard Rock | 3/31/2022 | 3/31/2022 |
| Betway | 11/24/2021 | Q2 2022 |
| SI Sportsbook | 11/25/2021 | Q2 2022 |
Currently, Betway operates in Colorado, Indiana, Iowa, New Jersey, and Pennsylvania. On the other hand, 888 is only available in New Jersey but has recently partnered with Sports Illustrated as part of its plans for expansion in the US. The collaboration could potentially result in the SI Sportsbook becoming the main brand for their joint venture.
Only 2 Virginia sportsbook licenses remain
Earlier this year, regulators made available five additional licenses, three of which were successfully secured by Colonial Downs, Betway, and 888.
In 2021, a bill was passed in Virginia to revise the language in the state’s sports-betting legislation from 2020. The revisions primarily focused on the licensing requirements for upcoming casinos in Virginia. As a result of these changes, online operators were granted the opportunity to obtain up to five extra licenses.
With PointsBet, Betway, and 888 already confirmed, there are still up to two options (with a minimum of one) yet to be finalized.
The winners, along with the trio of recent license winners, have a challenging task ahead of them, irrespective of who they are. It is essential for these sportsbooks to be operational before the NFL Playoffs (January), Super Bowl (February), and March Madness.
After the initial quarter of the year, the sports schedule enters a period of sluggishness. Consequently, sportsbooks typically observe a significant decrease in activity during the spring and summer months.
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