PointsBet Ready for Virginia Bettors

PointsBet Ready for Virginia Bettors

The Virginia Lottery has announced that PointsBet, in partnership with the Colonial Downs racetrack, has been granted a temporary license to offer sports wagering to those in Virginia. That means soon anyone visiting Virginia of legal gambling age will be able to download the PointsBet Sportsbook App and start placing wagers.

In 2018 the US Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), and since then, states have been given the right to legalize online sports betting. Virginia did so in April 2020, and first started taking wagers in January 2021.

The sportsbook will join over half a dozen other sportsbooks competing for customers in Virginia. PointsBet will be confident it can take a decent share of the market as sports betting grows in popularity in the US.

Who is PointsBet?

The PointsBet Sportsbook was actually first launched in Australia in 2015, where it quickly started growing in popularity thanks to its unique Points Betting Feature. That popularity allowed the sportsbook to make the jump from Down Under in 2019. The sportsbook first launched in New Jersey in January 2019 in partnership with the Meadowlands Racetrack. Since then, PointsBet has continued to grow and grow. If you want to find out more about PointsBet, we have reviewed the entire sportsbook including all of its features. 

Points Betting

Points Betting is an entirely unique type of betting in which your profits and losses are determined by how right or how wrong you are. As you might imagine from the name, these bets are placed on the number of points scored in a game.

For example, say you bet on there to be 25 points in an NFL game and stake $10. Every point over that total will multiply your stake. If there are 26 points scored, or one over, you will receive 1x your stake in profit. If it’s two over, you receive 2x over. This type of betting has the potential for enormous payouts.

However, it works the other way as well. For every point under, your stake will also be multiplied as losses. If it’s one point under, you will lose your stake and 1x your stake. If it’s two points under, you lose your stake and 2x your stake. There is huge money to be won, but also huge money to be lost. Offering this type of exciting betting is what PointsBet has built its popularity on.  

PointsBet in Virginia

PointsBet receiving its license in Virginia is in part thanks to its partnership with the Colonial Downs Racetrack. At launch, there will be no land-based locations to access the sportsbook. This is due to problems the state’s legislators have had perfecting the laws for such establishments. When these laws pass through, PointsBet will be able to open a retail sportsbook.

That’s not to say the online-only model is lesser, as a few states in the US have gone down this route with great success. For example, sports betting is very popular in Tennessee despite all sportsbooks being legalized for mobile-only betting. This will be the first state in which PointsBet has faced this challenge.

However, the sportsbook does have the backing of NBC on which it can rely. PointsBet and the broadcast company have been in partnership since August 2020 and have been increasing integration with one another. On the sportsbook desktop site, you will see the NBC logo and the face of NBC sportscaster and former NFL quarterback Drew Brees, while during NBC NFL coverage, PointsBet odds are integrated into the analysis. 

Many bettors in Virginia will already be used to hearing the PointsBet name because of this, so we expect no issues for the sportsbook as it launches in this new market.

Legal US Betting with PointsBet

With this latest licensing in Virginia, PointsBet is now available in eight US states. These are Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, and West Virginia. If you visit any of these states, along with Virginia, and you are of legal gambling age, you can use the sportsbook.

Download the PointsBet Sportsbook app, or visit the desktop site, and start Point Betting today.

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