Virginians now have an additional opportunity to legally place sports bets with the introduction of PointsBet Virginia.
On Wednesday, December 15, the newest VA sportsbook made a discreet entrance.
FanDuel Sportsbook was the pioneer in the Virginia sports-betting market when it formally launched on Jan. 21. Following its successful entry, numerous other mobile sports betting operators have also joined the scene in Old Dominion.
Virginia now has a total of 11 operators with the introduction of the PointsBet VA launch.
A PointsBet Virginia launch with local ties
The arrival of the PointsBet Virginia launch was anticipated; however, the exact timing remained uncertain.
Last month marked the point at which the joint application for licensure was announced by PointsBet VA and Colonial Downs Group, making it an inevitable outcome.
On November 22nd, the Virginia Lottery granted them an official temporary sports betting permit.
The VA sportsbook operators list is now complete with the addition of PointsBet Virginia launch.
| 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 |
Last month, two companies, namely Betway and 888 (in collaboration with SI Sportsbook), obtained permits for VA sports betting, as depicted in the table above.
Nevertheless, both potential debutants have refrained from disclosing any information regarding their launch date.
Teaming with Colonial Downs for Virginia access
Colonial Downs Group, headquartered in Virginia, is the proud owner of the renowned Colonial Downs racetrack located in New Kent. Additionally, the company possesses Rosie’s Gaming Emporiums, which are well-established gaming parlors and racebooks that provide an assortment of historical horse racing (HHR) games, akin to slot machines.
Although PointsBet is headquartered in Australia, it has established a presence in major US markets such as New Jersey and Illinois.
Despite its efforts, PointsBet has faced challenges in competing with the top sportsbooks in those states. In the first three quarters of 2021, the company’s market share in the highly profitable NJ market declined by almost 50%.
According to CEO Sam Swanell, PointsBet’s hesitation to invest in marketing, unlike FanDuel, DraftKings, and BetMGM, is one of the reasons behind their struggles.
Having Colonial Down as a partner has given the online operator a strong foundation in Virginia.
However, Virginia presents an extremely competitive market for the company.
A well-timed PointsBet Virginia launch
The launch of PointsBet Virginia was long-awaited and arrived just in time.
As the popular football-betting season comes to a close, PointsBet VA can still seize the opportunity to make the most of the highly anticipated NFL Playoffs in early January and the grand Super Bowl in February. These two colossal betting events offer tremendous potential for the company.
Currently, there are ten competitors operating in this area, with additional ones expected to join as Virginia casinos start to open.
PointsBet has a lot to offer. It is well-known among sports-betting enthusiasts and provides attractive player benefits such as sign-up bonuses, daily odds boosts, frequent promotions, and even unique “PointsBetting” payoff tables with varying scales.
Only time will reveal whether Virginia’s new operator can make a significant impact on the competition.
Related Articles
