Virginia online gambling is live, with new sportsbook mobile apps available now and regulated by the state. New legislation passed in April 2020 means there will be up to 18 Virginia online sportsbook licenses available within the state. So Virginia has gone from having little to no gambling within the state to moving full steam ahead into the world of online gambling.
With more land-based casino legislation already in the pipeline, the next couple of years will be an exciting time for those living within the Old Dominion State, as well as players who would just like to visit. Our team of gambling experts at BestAppBet put together this guide with the essentials of gambling in Virginia.
Top Online VA Sportsbooks
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Virginia is set between the Atlantic Coast and the Appalachian Mountains, its capital is Richmond in Virginia Beach, which is also the state’s most populous city. In 2019 the population was estimated at 8.54 million and with 36% living in the state, but around the Baltimore-Washington metropolitan area.
2020 was the first year Virginia moved towards allowing gambling of any kind. With the new legislation and the launch of some of the most prestigious and prominent sports betting operators, this feels like the start of a new era.
Legal Gambling in Virginia
The Virginia General Assembly accepted Gov. Ralph Northam’s amendments to HB896/SB384 in April 2020. The amendments legalized Virginia sports betting, and the law took effect on July 1. There were a series of temporary regulations that followed and were subject to a public comment period. Regulations were finalized on September 15 2020.
Virginians and visitors to the state can now experience a large selection of sports and bet types since Virginia online gambling launched in January 2021.
The bill does, however, forbid betting on Virginia high school and youth. It also forbids in-game betting on all college sports.
The law requires a minimum of 4 and a maximum of 12 Virginia online sportsbook licenses. All of the state’s casinos, 5 in total, and one sports team are eligible for licenses. This would mean Virginia could offer 18 licenses and would turn the state into a betting friendly market.
The launch into sports betting and casinos sees a shift within the state of Virginia. It has moved from having little gambling options and no mobile betting apps to become a state which offers both online sports betting and casino resorts all on the same day. Both laws were authorized on April 22, 2020.
Bill SB384: Sports Betting
The legislation, providing for both online and retail sports betting is set to create one of the stronger sports betting markets across the US. The bill allows up to 18 sports betting licenses active at one time.
With no land-based casinos at the time of passing the law, this bill allowed for some unique authorization. Including:
- 4-12 online only licenses – Awarded to applicants selected by the Virginia Lottery. Officials have to approve at least four Virginia online sportsbooks but can award up to 12. There is no requirement for the applicant to have any physical or business connection to the state. The two NASCAR tracks are both authorized to apply for one of these licenses.
- 5 licenses for casinos – Each casino property that opens within the state can apply for a Virginia sports betting license. They will probably be the first retail sportsbooks within the state. However, Virginia online gambling will be active for a while before the land-based opens.
- One license for a sports franchise – Unique to Virginia, this provision allows a sports betting license to be awarded to any major sports franchise that relocates within the state. FanDuel partnered with the Washington Football team and took advantage of this offer.
All initial applications cost $250,000 and if approved an additional $250,000 is needed to receive the license. The license lasts for three years and following all operators will have to pay $200,000 to renew.
Prohibited or Limits on Betting
There are a few restrictions on sports betting within the state. The first restriction is on “youth sports”. Virginia online sportsbooks are not allowed to offer wagering on any sporting events in high school or lower. Most states have similar prohibitions.
The new law also protects college sports inside the Virginia state limits, prohibiting betting on Virginia college sports. The law also protects collegiate athletes across the US by forbidding proposition betting on college. As live betting falls under prop betting, players will have to make all college bets before the game begins.
Taxes on Sports Betting
License holders will have to pay 15% of their adjusted gross revenue as tax. This is owed monthly.
The state however has allowed for a monthly net loss to be carried over. These losses can be deducted from tax liabilities for up to a year. The disbursement of the tax collected has only one identified recipient at present, the Problem Gambling Treatment and Support Fund. It is due to receive 2.5% of the accumulated funds. The other 97.5% is headed straight to the general fund.
After completing an impact assessment study in November 2019, the Virginia Joint Legislative Audit Review Commission estimate the tax revenue from sports betting could reach $55 million annually. This is once the market matures.
Virginia Operators
With a minimum of 4 and a maximum of 12 Virginia online sportsbooks mandated by law, it is just a waiting game to see which companies will launch into the online sports betting space. For more information about different operators check out our full website.
- FanDuel Sportsbook – The first to launch within the state after partnering with the Washington Football team. Virginia was a clear choice for the betting brand. The app currently offers weekly promotions, daily odd boost and a live betting option.
- DraftKings Sportsbook – Another leader in sports betting, it has been expanding into every state possible. It went live in Virginia in January 2021.
- BetMGM Sportsbook – Coming from MGM Resorts International, it’s has been aggressive in entering every sports betting state. Although it doesn’t currently have a physical location planned in Virginia, it does have a presence in Maryland, the state’s neighbour. MGM launched its app in January 2021.
- BetRivers Sportsbook – Partnering with the planned Rivers Casino Portsmouth, it launched its online platform immediately. The physical location will come later.
- William Hill Sportsbook – Caesars Entertainment is currently buying William Hill. As a result, Caesars is planning to build a casino in Danville. This prominent brand has a growing footprint across the US.
Types of Bets Popular in Virginia
The new legislation in Virginia allows for most of the popular wagering type including:
- Straight bets: Type of betting wagers on a single game or event. Straight bets must win the game by covering the point-spread or by tying the expected outcome. The payout depends on the sportsbook odds.
- Parlays & Accumulators: A wager that combines two or more individual bets (legs). All legs will need to be won for a payout, which would be more than the sum of the individual legs.
- Pleasers & Teasers: Teasers: Reduces the risk but also the pay-out. This bet is a type of parlay that includes spread betting.
- Player & Championship Futures: Players will need to bet on an end-of-season outcome. Examples include season MVP, winner of the Super Bowl etc.
- Live Betting: This allows the player to place bets whilst the sporting event is happening. Data feeds change the odds in real-time.
- Props & Exotics: Proposition bets, “props”, are wagers on events different from the result of the game. This can include, goals scored by a certain player, first touchdown, etc.
Popular Betting Markets Available in Virginia
Most sports are covered in the Virginia sports betting law. The sportsbooks are offering betting on all major professional sports league, including:
- NFL
- NBA
- MLB
- NHL
- NASCAR
Alongside these obvious choices, there is also betting on motorsports, golf, tennis, boxing and others. As well as other professional sports such as soccer, including the English Premier and MLS. Bettors will also be able to bet on most Division I college games and a wide variety of other international sports.
Favorite Teams for Virginians to Bet On
Virginia has a population of 8.5 million, which makes it one of the most populated states without a major sports team of any kind. However, neighboring NFL’s Washington Football Team and NHL’s Washington Capitals have their operational headquarters and practice facilities in Virginia.
Local fans hope that Virginia online sportsbooks might finally bring some major sports franchises into the state. Until that happens, sports fans can still back their loved out of state teams.
MLB
The two beloved Major League Baseball teams backed by Virginians are the Washington Nationals and the Baltimore Orioles.
The Washington Nationals struggled in their early years in Washington D.C. however pulled it back in the 2010s before beating the Houston Astros in the 2019 World Series. Their first championship.
Another neighboring state to Virginia is Maryland, home to the Baltimore Orioles who have won 3 World Series titles.
NFL
The Washington Football Team is one of the most followed NFL franchises in Virginia. They currently have 3 Super Bowl Championships under their belt. They are awaiting a permanent name change after rebranding in 2019 from their original name, the Washington Redskins.
The Baltimore Ravens, another team from neighboring Maryland has been one of the more successful NFL franchises, qualifying for the NFL playoffs 13 times since 2000 and winning 2 Super Bowl Championship titles, not to mention other multiple titles.
NBA
The Washington Wizards is the NBA team to follow if you’re a Virginian. With 4 conference titles and 1 championship. Originally founded as the Chicago Packers in 1961, the Wizards then relocated to Baltimore, Maryland in 1963. And after 10 seasons finally landed in the Washington metropolitan area in 1973.
NHL
Founded in 1974 as an expansion franchise, the Washington Capitals have a vast following in Virginia. They have won one Stanley Cups and two Conference championships. In addition to those accolades, they have also won three Presidents’ Trophy and 13 division championships.
College Sports
Although not allowed for betting in the state, Virginia has some brilliant NCAA teams, with plenty of support. These include:
Virginia Tech Hokies
The Virginia Tech Hokies hail from the Virginia Polytechnic Institute and State University. They currently compete in 22 varsity sports, including both women and men’s basketball, tennis, swimming and diving as well as so many more. The Hokies have won national titles in wrestling as well as various track and field events.
William & Mary Tribe (W&M College)
The Tribe has a total of 23 varsity teams, and holds two team national championships, both in men’s tennis. Their other successes include thirteen USA Gymnastics Collegiate Championships, the AIAW championships in women’s golf and many other individual national championships.
George Mason Patriots
The Patriots reached their current level of 20 varsity sports by adding women’s lacrosse, rowing and men and women’s swimming and diving. George Mason won the A-10 conference championship the first year they competed in the league, 2013.
Virginia Cavaliers (University of Virginia)
Also known as the Wahoos or Hoos, based on the university’s rallying cry, the Cavaliers leads the ACC with 20 NCAA Championships in men’s sports. They have also added seven NCAA in women’s sports, bringing their total to 27.
Richmond Spiders (University of Richmond)
Previously known as the ‘Colts’, at some point in the 1890s the school teams took on the ‘Spiders’ as their name. They compete in Division I of the NCAA for most sports.
Types of Bonuses in Virginia
Each sportsbook will have different bonuses available for their players, and with no land-based casinos, the competition is high. These are just some of the bonuses we might expect to see in Virginia:
- Welcome Bonuses – Offered by almost all sportsbook sites when signing up for an account and making that first deposit. Usually, the bonus will be a percentage of the deposit or a small bonus amount.
- No Deposit Bonuses – Offered as part of the signup bonus, the bonus amount is deposited into your account allowing you to place a few bets without depositing. As they’re a free bonus, they’re usually small and could be offered during a special sporting event or promotion.
- Cash Bonuses – These are smaller sportsbook bonuses and are usually offered at the time of sign up. They are a fixed, smaller amount but can be used on any wagering on any type of event.
- Reload Bonuses – Many sportsbook sites offer a reload bonus on your deposits after the initial deposit. It’s usually a smaller percentage to the welcome bonus and it may not be a regular occurrence.
- Free Bet Bonuses – Usually offered after placing a single bet on any sporting event and meeting the wagering requirements, it allows you to bet without the risk of losing your own money. If you win, you can collect all the winnings.
- Match Play Bonuses – Unlike cash bonuses and offered on how an event is played. Almost like a coupon which is used just once. Players qualify once they reach the minimum rollover requirements. The requirements vary from sportsbook to sportsbook.
- Bonus on Loss – Some sportsbooks offer you a bonus on the loss incurred on your bet. The hope is that offering you this bonus will prevent you from becoming too discouraged and leave the site completely.
- Loyalty Bonus – Sports betting sites use these bonuses to retain players. They usually work around ‘loyalty points’. The accumulation of these points allows you to redeem for cash, free bets or other bonuses the site might offer.
- High Roller Bonuses – If you are depositing larger amounts of money or have the capacity to bet big, sportsbooks may offer you a bonus. Usually, a percentage of the deposit amount and could increase it by almost 50%.
Final Thoughts on Sports Betting in Virginia
The expansion of Virginia online gambling signals the start of big things within the state. With upcoming land-based casinos planned it will be constantly moving field.
However, there’s no need to wait, as long as you’re within state limits and over 21 you can place bets using a computer or mobile phone. You don’t even need to be a state resident, just make sure you’re within state boarders, otherwise it won’t work.
For more information on other mobile betting apps, we have an article dedicated to just that.
Gamble Responsibly
The exciting and fun world of sports betting is now legal and available to anyone in Virginia that is over 21. But keep in mind that fun and excitement is what it’s all about, and sports betting is a form of gambling that should never be seen as a safe way to earn money. Set budgets and timelines, and keep a close eye on your bankroll. If you are losing too much take a break and seek help if things are getting out of control. Always gamble responsibly, so you can keep coming back for more exciting Illinois sports betting.
Draftkings
Daily fantasy sports giant DraftKings gaining momentum as one of biggest sportsbooks in America. DraftKings Sportsbook is one live and legal in New Jersey, Pennsylvania and many more states, now also live in West Virginia with DraftKings live sportsbook, as well as mobile sports-betting app. Open an account now with DraftKings state-of-the-art sportsbook and you can get a free bonus just for signing up.
Fanduel
FanDuel, the biggest fantasy-sports operator in the world launched its sportsbook in 2018, and has since been busy becoming one of the country’s most successful sports-betting operators. Following great success in New Jersey, Pennsylvania and more states, FanDuel is now also legal and live in West Virginia, offering a great website and even greater mobile app that lets you gamble online safely and legally from anywhere in the state.
BetMGM
Entertainment and gambling powerhouse MGM International extends the excitement of its legendary land-based casinos, enabling you to now place your bets and play on its sportsbook brand BetMGM via their website or mobile app. After a roaring success in New Jersey, BetMGM is now available in Indiana, West Virginia and soon in Colorado. It is safe and legal to play from anywhere in West Virginia, so join the BetMGM sportsbook excitement.
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