Last updated on January 10th, 2021 at 10:25 am
Virginia sports betting will officially start soon. Residents will be able to wager on the Super Bowl through local sportsbooks. Also, Virginia Lottery Executive Director Kevin Hall said that they are ready to roll out sports betting.
The Virginia Lottery will supervise the rollout of sports wagering. At present, they will issue 12 licenses to operators to launch their online sportsbooks in the state. Once they give the first licenses, online sportsbooks can go live.
The State General Assembly made sports betting legal in 2020. However, it took the Lottery time to develop rules and regulations. Players need to be at least 21 years old to wager on sports in Virginia. Also, they need to be within the state. However, they can’t wager on games involving Virginia college teams. The state also prohibits betting on the Olympics.
Virginia Sports Betting Roll Out Soon
Although Virginia was the second state to make sports betting legal, it took them a long time to develop the rules. Some operators expected to launch their sportsbooks in the state include FanDuel, BetMGM, and DraftKings. They can start their operations as soon as they get their license from the Lottery.
According to sportsbook pay per head reports, players can place their wagers pregame or in-game during professional sports games. However, only pregame bets are available for college games.
Many entrepreneurs want to be an online bookie in Virginia. Analysts predict that players would bet $400 million in 2021. The state would take 15 percent of the revenues as tax. Part of the sports betting tax revenue will go to initiatives to assist people with gambling problems.
As per pay per head bookie sources, a program gambling program is a responsible way to protect consumers. Also, it gives people confidence that sportsbooks are operating within the rules and regulations of the state.
