Farewell, Golden Nugget Sportsbook in Virginia. Welcome, bet365 Sportsbook.
After Golden Nugget silently withdrew from the Virginia market, the company behind bet365 was granted a temporary license in the state a few months later.
Once bet365 Virginia and its leadership team finish the necessary paperwork and pass a background check, the license for Hillside (Virginia) LLC will obtain full status, according to John Hagerty, spokesperson for the Virginia Lottery.
Before bet365 Virginia can obtain a complete license and accept wagers from customers, regulators must also evaluate and examine the bet365 Virginia app.
Bet365 comes as Golden Nugget goes
Currently, there are 13 active sportsbooks in Virginia. The number reached its highest point this year at 14, but DraftKings made the decision to close Golden Nugget Virginia Sportsbook after successfully acquiring Golden Nugget Online Gaming.
DraftKings dominates the Virginia sports betting market with a significantly larger share. On October 13, 2021, Golden Nugget Sportsbook Virginia made its debut but had to halt accepting bets in early May due to the merger with DK.
According to the Virginia code, the state limits its sportsbook count to a maximum of 12 permits. The merger between DraftKings and Golden Nugget does not create additional availability for sportsbook licenses in Virginia, as stated by Hagerty. Hence, bet365 will become the 15th sportsbook license in Virginia.
Hagerty informed PlayVirginia that the upcoming yearly application period will commence in May 2025.
In Virginia, there are provisions that permit a maximum of 19 sportsbooks in the state.
- If a sufficient number of employees in Virginia meet income tax thresholds, two sportsbook permits are granted to professional sports franchises in Washington D.C. The Washington Commanders have a partnership with FanDuel Sportsbook and hold a Virginia license. In fact, there are plans to establish a retail FanDuel sportsbook lounge at FedEx Field. Currently, no pro franchises in the Beltway have obtained the second sportsbook license.
- There are five available sportsbook licenses for Virginia casino operators or potential operators. The Hard Rock Casino and Resort in Bristol has already established the Hard Rock Virginia Sportsbook. BetRivers Virginia Sportsbook is utilized by the Rivers Portsmouth Casino Resort. The Caesars Virginia Casino Resort in Danville has partnered with the Caesars Sportsbook in Virginia. HeadWaters Resort & Casino in Norfolk is currently without a sportsbook partner. The One Resort + Casino in Richmond, which is still in the proposal stage, requires voter approval in 2025. Additionally, it has the option to incorporate a sportsbook brand.
Virginia Sportsbook history
| Sportsbook | Date of First Bet | |
|---|---|---|
| 1. | FanDuel | Jan. 20, 2021 |
| 2. | DraftKings | Jan. 24, 2021 |
| 3. | BetMGM | Jan. 27, 2021 |
| 4. | BetRivers | Jan. 27, 2021 |
| 5. | Caesars | Feb. 3, 2021 |
| 6. | WynnBet | March 9, 2021 |
| 7. | Unibet | April 28, 2021 |
| 8. | Barstool | Aug. 10, 2021 |
| 9. | Golden Nugget (no longer available) |
Sept. 29, 2021 |
| 10. | Bally Bet | Nov. 24, 2021 |
| 11. | PointsBet | Dec. 12, 2021 |
| 12. | Hard Rock | March 31, 2022 |
| 13. | SI Sportsbook | May 9, 2022 |
| 14. | Betway | May 17, 2022 |
| 15. | bet365 | TBD |
Bet365 history
Bet365 Sportsbook is a relatively recent addition to the US market. It became operational in New Jersey three years ago and also secured an agreement in Colorado two years ago.
bet365, the self-proclaimed “world’s largest online sports betting company,” has established international connections for over two decades. Generating an impressive $4 billion in annual sportsbook revenues, this company operates in various markets including Great Britain, Denmark, Spain, Italy, Ireland, Sweden, Greece, Cyprus, Malta, Gibraltar, and Australia.
In 2000, founder Denise Coates initiated the development of the sports website in Stoke-on-Trent, UK, with a team of 12 employees. Within a year, the team successfully launched its sportsbook.
In 2004, bet365 introduced its online casino games website in Curaçao, which now supports a workforce of 6,000 employees and serves 80 million customers globally.
After a span of eight years, the web-based sportsbook finally incorporated its inaugural mobile application.
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