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Virginia’s Sports Betting Options Will Likely Launch in Early 2021

virginia’s-sports-betting-options-will-likely-launch-in-early-2021

The state of Virginia is known for having an extremely passionate sports fan base. Back in April, lawmakers here finally approved a measure to legalize and regulate sports betting. Unfortunately, Virginia’s sports betting options are unlikely to launch online until sometime in early 2021.

Lawmakers here are taking their time coming up with specific regulations for the industry. There are still some things that need to be worked out before online sports gambling goes live here. Today, we’re going to take a look at what exactly is happening with this situation.

Let’s get into it!

Several More States Are Expected to Legalize Sports Betting in 2020

For decades, Nevada was the only state in the country legally able to offer sports betting options. A set of laws called PASPA was set in place that prohibited other states from opening their sports betting industries. After major pushes from several state leaders around the country, the Supreme Court decided to strike down PASPA in May of 2018.

This was a monumental decision for the US gambling industry. Several states immediately approved legislation to allow sports betting. Many other state officials began seeing sports betting bills being introduced.

This has proven to be very profitable for many states. Even in 2020, sports betting revenue is increasing. New Jersey recently saw its revenue from this industry reach $668 in August. That’s the most money that one state ever earned in a single month from its sports gambling options.

Many areas of the country are now desperate for money. Lawmakers seem to recognize how lucrative this new gambling industry can really be. Several states now have sports betting legislation on their voting ballots in November.

Virginia’s leaders finally approved a sports gambling bill back in April. The initial plan was to get sports betting platforms up and running here by July. Unfortunately, there have been several delays getting things operational here.

We’re now hearing about when things will finally launch here.

Expect to See Virginia’s Sports Betting Options Launch Next Year

Virginia isn’t home to any major, professional sports teams. Despite that fact, the state is known for having a huge sports fan base. Many felt this state would quickly grow to become a major East Coast sports gambling hub.

Lawmakers have remained hesitant to get this industry up and running, though. There are concerns that this industry could lead to several social issues. Officials have also been looking closely at exactly which sports to allow betting on.

This week, the Virginia Lottery formally approved a regulatory framework to launch the state’s sports gambling options. It appears these commission members have agreed on the rules to regulate this new form of gambling. Lottery spokesperson Kevin Hall released a statement on the news to the media this week.

“We have received and evaluated several hundred comments and suggestions submitted by citizens, sports betting and casino operators, and most of the major professional sports leagues, including the NFL, MLB, NBA and the PGA,” Hall said. “Under the legislation, betting will be permitted on most major league and college sports, although not on games featuring Virginia college and university teams.”

With this framework now set in place, the state can begin looking at companies to offer sports betting licenses to. Most analysts expect Virginia’s sports betting options to launch in early 2021. December of this year seems to be the earliest possibility.

Things are certainly moving here. How are the state’s casino plans coming together?

When Will Casinos Open in Virginia?

Virginia’s lawmakers are clearly beginning to embrace different forms of gambling. As we mentioned earlier, the state approved sports betting legislation back in April. That same month, these lawmakers approved a bill that legalizes commercial casinos, as well.

This didn’t come at an ideal time. Land-based casinos were closed around the country for months. Most are now open, yet casino revenue remains far lower than what it was in 2019. Many are unwilling to visit a crowded casino at this time.

Virginia’s leaders are still working hard to push things forward. Several cities have already gained approval to host a casino. No official casino licenses have been handed out here yet, though.

It’s not entirely clear when casinos in this state will open up. Some have expressed fear that this will never happen. It’s a difficult situation and one that lawmakers and major US casino operators are working on.

The first step seems to be getting the state’s sports betting platforms up and running. There is real progress being made on this front. We’ll continue offering updates on this situation over the next few weeks!

Are you excited to hear that Virginia’s sports betting options will launch next year? Let us know in the comments section below!

Kevin Oldroyd

A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. …

View all posts by Kevin Oldroyd

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