Last Updated on March 8, 2020
Sports betting bill clears Va. House.
No betting on Virginia college teams.
Tax rate changed from 17.5% to 15%
Senate vote coming up
— Graham Moomaw (@gmoomaw) March 8, 2020
Senate passes sports betting bill 29-10, sending it to the governor.
Lottery-regulated mobile apps and websites could go online by the end of the year.
— Graham Moomaw (@gmoomaw) March 8, 2020
Virginia Legal Sports Betting Details
More details will be released, but here is what we know:
- No betting on Virginia college teams
- Tax Rate is 15%
- Mobile AND Retail Sports Betting Legislated
- Official league data is required
- No prop bets on any college athletics
- Major league franchise allowed to conduct in-person sports betting at a facility (Redskins, most likely)
The bill will allow for at least four online sportsbooks, but no more than a dozen. This is great news for DraftKings Sportsbook, FanDuel Sportsbook, and other mobile sports betting operators.
Dan Snyder to Built New Facility in Virginia?
With this news including a specific piece in the bill about major league franchises conducting in-person betting at their facility, it indicates what Dan Snyder has been lobbying for as he looks for a new stadium for the Washington Redskins. Expect a site to be announced in Virginia, and rumors are circulating of a plot of land near Dulles Airport, in Virginia. Reading between the lines indicate that the next site for the Washington Redskins will certainly be in Virginia.
When Can I Bet on Sports Legally in Virginia?
This news is in its infancy, but with full measures taken and assuming the Governor signs the bill…expect to have in-person betting by the end of the year and mobile betting closer to the beginning of 2021. Either way, this is great news for the legal sports betting industry, Virginia bettors, and more.
The next step is for Governor Ralph Northam to sign the bill.
For more news on legal sports betting, click here.
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