Virginia sports betting on track for legalization: Could launch for Super Bowl 55
Posted on Wednesday, Dec. 2, 2020, 5:46 pm
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You may not be aware but legal Virginia sports betting will be launching in the state soon. Amidst the craziness of 2020, the Virginia General Assembly passed legislation in May 2020 to set Virginia on a path to welcome sportsbooks in 2021.
Virginia will join a host of other states across the country to legalize sports betting, however, there are a few caveats. For instance, bettors cannot bet on a college sports game involving any university or college that is based in Virginia. This may come as a disappointment for some given the history of collegiate athletic excellence in the state, especially considering UVA’s recent basketball success.
The Lottery Board of Virginia recognizes some Virginians will miss betting on their favorite team.
“Under the legislation, betting will be permitted on most major league and college sports, although not on games featuring Virginia college and university teams,” said the board via email communication. “Consumers will be able to place wagers on professional sports, certain college sports, and other sporting events, as well as on the performance statistics of individual athletes”.
Nevertheless, sports fans in Virginia should embrace the impending launch of legal sports betting in Virginia. It will likely have a positive impact on local economies (especially if the state approves plans for brick-and-mortar sportsbooks) and certainly will provide entertainment for fans across the state.
Currently, the Lottery Board is processing 25 applications from potential operators but they are tight-lipped on which companies applied. Major gaming companies such as DraftKings, FanDuel, and Penn National Gaming are expected to try and enter the Virginia market. Just their brand presence alone will undoubtedly ease any uncertainty from some who are new to sports betting.
The last day companies were allowed to apply was October 31, 2020. There is a 90-day application review period, which would put the launch of sports betting in Virginia is somewhere around January 29, 2020, which is just one week before Super Bowl 55 in Tampa, FL.
We still don’t know if this timeline will play itself out before February but if it does it would be the ideal time period for sportsbooks to launch in Virginia as the Super Bowl is a massive cultural and sporting event.
