It is highly probable that the initial sportsbooks in Virginia will be operational and ready to receive bets before Super Bowl LV.
On Tuesday, the Virginia Lottery revealed and sanctioned the ultimate set of regulations for Virginia’s upcoming sports betting sector. Consequently, authorities anticipate the inaugural sportsbooks in Virginia to commence operations in January.
After a 56-day period for open comments that concluded on September 5, the formal vote took place. During this time, various sportsbook operators provided feedback and suggestions regarding the final regulations. Furthermore, input was also received from major US sports leagues and the general public.
After considering many of their recommendations, VA Lottery officials have incorporated them into the final regulations. Consequently, sportsbook operators will be commencing the license application process within the next 30 days.
When will Virginia sportsbooks open?
Virginia took a significant stride forward with the implementation of regulations by the VA Lottery.
Earlier this year, the Virginia General Assembly passed a law legalizing gambling, consequently paving the way for the establishment of legal sportsbooks and casinos in the commonwealth.
The opening of the initial Virginia casinos is anticipated to occur in 2025. Nevertheless, lottery officials, responsible for overseeing all gambling activities in Virginia, have confirmed that the first sportsbooks are expected to be up and running by January.
With its early-2021 release, operators have the opportunity to take advantage of the NFL playoffs and the highly anticipated Super Bowl on Feb. 7. The conclusion of the NFL season has always been a prime time for sports bettors.
During the open comment period, input was provided by all established operators.
- BetMGM
- Caesars (William Hill)
- DraftKings Sportsbook
- FanDuel Sportsbook
- Handle 19
- Hard Rock
- Penn Interactive (Barstool Sports)
- Rush Street (BetRivers)
- theScore Bet
- USBookmaking
VA Lottery officials have announced their preparedness to accept fully completed applications by mid-October.
The VA Lottery has a 90-day timeframe to issue a decision regarding a license once an application is accepted. Authorities have expressed their intention to make prompt yet well-informed decisions in order to meet the target of launching in January.
How many sportsbooks will VA have?
A minimum of four and a maximum of 12 sports betting licenses will be granted in Virginia, with five of them allocated to the state’s casino operators.
In 2025, casinos can potentially be established in Bristol, Danville, Norfolk, Portsmouth, and Richmond by these operators. Nevertheless, the actual openings are dependent on the outcome of voter referendums held in each locality.
The launch schedule for VA online sportsbooks is considerably shorter.
It is worth mentioning that several potential sportsbook companies are also favored casino partners. This group comprises Caesars (Danville), Hard Rock (Bristol), and BetRivers (Portsmouth). Consequently, each of these companies should be granted one of the five sportsbook licenses designated for casinos.
The remaining seven licenses will be sought after by the other sportsbook operators.
The allocation of licenses will be determined by Kevin Hall, the Executive Director of the Virginia Lottery. Hall’s selection will be guided by his assessment of the operators’ potential to generate the highest revenue for the state of Virginia.
As a result, Virginia’s sports bettors can anticipate a highly competitive betting market starting in January.
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