Virginia Lottery reviewing 25 applications for Sports Betting Permits
The Virginia Lottery announced today it is reviewing 25 applications for mobile sports betting permits submitted during the initial Oct. 15-31 application period.
By law, the Lottery must issue at least four and no more than 12 permits to qualified applicants. According to the statute enacted by the 2020 General Assembly, the cap of 12 permits does not include applications tied to certain major league sports franchises that are headquartered in or play at a facility located in Virginia.
The cap of 12 permits does, however, include the applications submitted by the casino gaming partners previously selected by the cities of Bristol, Danville, Norfolk, and Portsmouth.
“The high level of interest by national and international sports betting operators validates Virginia’s efforts to strike an appropriate and responsible balance in its regulatory program for legalized sports betting,” said Virginia Lottery Executive Director Kevin Hall. “We are confident that the deliberative review process we are undergoing now will result in a successful program that protects consumers, athletes, and taxpayers.”
Permit holders will be selected on a number of factors, including their past experience and success with sports betting in the United Sates, their efforts to solicit minority investors, and the number of new jobs and tax revenues they expect to generate in the Commonwealth.
Sports betting regulations can be viewed at www.vagamingregulations.com, a microsite providing key information and public transparency on issues around expanded gaming in the Commonwealth.
The site includes information about the rulemaking process and timelines for when expanded gaming will become available in Virginia.