Don’t look now, but Virginia sports betting just raised the bar! The commonwealth became the quickest market ever to reach the $1 billion mark for bets placed on sporting events. The Virginia Lottery reported that sports wagers there topped $1.09 billion for the year to date ending on May 31st. That total is even more amazing when you consider that the “year to date” for the state didn’t even start until their January 21st launch! Virginia shattered the record previously set by Tennessee, which managed to reach the billion dollar mark in a six month span. To do so, the…

It was only January when Virginia sports betting made it’s debut, becoming the 20th state to regulate the activity. And now, industry representatives believe the market could grow into one of the biggest in America. The PlayVirginia website recently speculated that the state could generate over $5 billion in wagers annually.  Such a number would translate to about $60 million each year in state taxes. “Virginia is well-positioned, not only because it is a relatively large market, but because it will likely capitalize on Washington D.C., a legal market that has left some bettors frustrated,” said Eric Ramsey of the…

Virginia online sports betting is growing ever closer to launch, and hopes are that wagers could be placed by residents even before the Super Bowl! Estimates are that the market could wager over $400 million this year. Betting on sports was approved some time ago, but the state will have no land based sports books. Only online betting is permitted under the state law. Expectations are that the Virginia Lottery will green light dozens of betting websites in the state. Sites that will be able to legally accept bets from state residents on a variety of sports. However, wagers are…

Governor Ralph Northam has signed into law a bill that opens the door for Virginia casino gaming, as well as providing a route to law for sports betting in the state. Northam has ratified SB1126, filed by Senator Louise Lucas in December 2018, which allows cities to establish casinos, provided they meet a series of conditions. Cities are eligible to host the venues if they have an unemployment rate of at least 4%, a poverty rate of 20%, and had experienced a population decline of at least 7% between 1990 and 2016. Tribal casinos, meanwhile, would be permitted in cities…