Bills Expanding Virginia Sports Betting Headed To Governor’s Desk

Two bills that may expand the already real time Virginia activities wagering market are only a couple of actions through the governor’s desk.

HB 1847 from Del. Mark Sickles and SB 1254 from Sen. Jeremy* that is mcPike( were identical bills at the beginning of the session. The bills clarified a few details from last year’s enabling sports legislation that is betting including which VA activities wagering licenses counted against a mobile-license limitation and wagering on amateur activities.

The Home tossed the procedure for a little bit of a loop, nonetheless, whenever it asked for language to market minority involvement along the way. The Senate initially rejected the language but fundamentally accepted the homely house version after input from the Virginia Lottery.

The House accepted the conference report for both bills Friday with the Senate suit that is following*)Saturday. The proposals are waiting for signatures through the House Speaker and Senate President before hitting Gov. Ralph Northam‘s desk.Incoming Virginia recreations changes that are betting*)There are a couple of significant changes coming from the legislation.

First, mobile sports betting licenses for casinos won’t count against the cap of

12

mobile-only licenses. Those licenses are for competitive bid only with just two awarded so far.That was the intention of last year’s legislation that is enabling the written text didn’t reflect that. The 2 sponsors also intended for Olympic

betting become permitted, though which was perhaps not allowed initially by the Virginia Lottery.The bills additionally give the Lottery authority to accept markets that are new future legislation won’t be necessary.Minority ownership now considered in licensing

For the

up to 10

remaining mobile-only licenses, minority participation will now be given “substantial and consideration that is preferred*)In issuing permits to work activities wagering platforms just before July 1, 2025, the Director shall provide significant and favored consideration to virtually any applicant that demonstrates in its application (i) a description of any equity interest owned by minority people or minority-owned businesses, (ii) an in depth intend to attain increased minority equity investment, (iii) a description of all of the efforts designed to look for equity investment from minority people or minority-owned companies, or (iv) an agenda detailing efforts designed to obtain involvement of minority people or minority-owned companies into the applicant’s purchase of products and solutions associated with the activities wagering platform or even to offer assist with a historically disadvantaged community or historically black colored universites and colleges situated in the Commonwealth.The two edges went along to conference on the language because there clearly was concern the wording that is new affect licenses already handed out. The Senate accepted the language.

Virginia with the Lottery assuring the conference that wasn’t the case Sports launches that are betting stalled

Sports betting in Virginia launched Jan. 21 when

FanDuel Sportsbook

went live in the state.DraftKings Sportsbook joined the market that Sunday. Those two sportsbooks were part of a busy opening weekend for both Virginia and online sports betting in

Michigan. Data from Geocomply showed 7.5 million geolocation transactions from more than 400,000 accounts across the two states that

BetMGM weekend, BetRivers and William Hill had been all approved by Jan. 27, but there’s been no action ever since then, most likely as a result of these bills making their method through the legislature.

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