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Virginia Targets Early 2021 Launch after Sportsbook Rules Approval  

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Richard
(@richard)
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Virginia is one step closer to join the US sports betting bandwagon after the Lottery Board approved the sportsbook rules. They based the regulatory framework on the sports betting law implemented earlier this year. Also, Virginia targets early 2021 launch for the sportsbook.

The legislation allows at least four and a maximum of 12 licenses for online sports betting platforms. Also, sportsbooks can get a permit if they partner with a major league team competing or headquartered in Virginia.

According to the Virginia Lottery Board, they want to develop a regulatory structure involving sports betting that’s responsible, transparent, and fair to athletes and consumers. Their goal is to ensure a level playing field for sports wagering in the state for consumers and providers.

Virginia Targets an Early 2021 Launch

Virginia Targets Early 2021 Launch after Sportsbook Rules Approval

Based on bookie software reports, the regulator allows wagering on most college and major league sports. However, players can’t bet on games featuring Virginia university and college teams.

Players can place bets on professional sports, some college sports, and other sports events. Also, they can wager on the performance stats of individual athletes. The Lottery Board accepts applications for licenses between October 15 and 31, 2020, according to Sportsbookpayperhead.com.

Based on a political forum, the Lottery has 90 days from the submission of the application to deny or approve the issuance of the license. Thus, licensed mobile betting platforms can launch their mobile betting apps in the state in early 2021.

The Virginia Lottery Board received and assessed hundreds of suggestions and comments from citizens, casino and sportsbook operators, and most professional sports leagues. The feedback during the public comment period. Thus, they updated the regulations based on the suggestions from citizens and stakeholders.

The Lottery got suggestions from sportsbook operators and sports leagues last June. They published the draft regulations for public comments from July 15 to September 9.

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Posted : 19/09/2020 4:01 am