Virginia nearer to including 5 extra cellular sports activities betting licenses
The bill sponsors who helped legalize sports betting Virginia The past year has come one step closer to correcting a legal error.
Both It is. Jeremy McPike and Del. Mark Sickles submitted bills this year to clarify the cap on licenses for mobile sports betting. SB 1254 and HB 1847 Make it clear that the five Eligible casinos should receive licenses for mobile sports betting that do not count towards the mobile-only cap 12 licenses.
The bills seem to have the support they need to pass this year as both passed smoothly by their respective chambers. HB 1847 is a hearing in the General Senate Laws and Technologies Committee. SB 1254 has not yet been assigned to a House Committee.
The new legislation would expand the VA sports betting industry to as many as possible 17 mobile sports betting. The actual number of sports bets could be higher as this number does not include any launched through partnerships with major league sports franchises.
The sports betting market in Virginia is still cloudy
FanDuel Sports Betting surprised many when it announced it would launch its sports betting in Virginia – and the state market in general. 21th January. That’s because the Virginia Lottery handled the entire licensing process behind closed doors.
Virginia sports betting law states that the lottery executive director must present at least one award four and a maximum of 12 sports bets for mobile phones only. How many are awarded depends on the director Kevin HallA feeling for what creates the best economic result.
So far it just seems two of these licenses – BetMGM and DraftKings Sports Betting – were awarded. With nothing more than the fact that 25 sports betting licenses applied for the lottery, we don’t know how many more to expect.
However, more information might be on the way. The Virginia Lottery meets Wednesday for an update on the launch of sports betting, as well as initial provisions for the state’s recently legalized casino industry.
Who is Already Licensed in Virginia?
As of Tuesday morning, the Virginia Lottery website listed five approved sports betting providers:
- BetRivers (by Rush StreetCasino license)
- DraftKings Sports Betting
- FanDuel Sportsbook (through a partnership with the Washington soccer team)
- William Hill (by Caesars‘Casino license)
All but William Hill live and accept bets.