Last Updated on October 13, 2020
The Virginia Lottery has an online portal set up so that operators can start the process of applying. Once operators apply for a license, the VA Lottery will have 90 days to approve each application. It’s unclear whether or not the VA Lottery will approve each application on a rolling basis or look to have one specific launch day with every operator who applied.
This means major players in the industry, including DraftKings, FanDuel, PointsBet, FOX Bet, and Barstool can try and make their way into this potentially massive market. Virginia is the 12th-largest state in the country by population which means that mobile sports betting could take off in a major way.
Virginia has plans for five brick-and-mortar casinos in the state right now. So long as they pass a vote among residents, Danville, Norfolk, Portsmouth, Richmond, and Bristol are all planning to open up retail casinos in those five cities. Those votes will take place on election day on Nov. 3.
Bristol is partnering with Hard Rock (Scientific Games), Danville with Caesars (William Hill), and Portsmouth with Rush Street Gaming (BetRivers). The locations in Richmond and Norfolk have yet to ink a deal, but the expectation is that each city will reach a deal with the Pamunkey Indian Tribe.
Unlike some other states, most notably Illinois, operators do not need to have a partnership with a retail sportsbook in order to launch mobile sports betting. This is why the major players like DraftKings, FanDuel, and Barstool have an opportunity to get in on the action.
Virginia is the next big domino to fall as sports betting legalization continues to sweep across the country.