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There was plenty of interesting sports betting news last week despite GameStop and retail stock market investors dominating headlines. The team also discussed the recent trend of buying daily fantasy sports companies. Even before Virginia sportsbooks go live, we can tell you generally how you get started betting at legal apps. From there you just start using the app and find the bets you want to make. You will have a wide variety of choices of what you can bet on once you get started.
The methods for funding your account will vary by the sportsbook you use. But here are the common ones that bettors employ at most online sportsbooks:. Although a credit card may seem like a good option, they are also more likely not to work than the other methods. So you might want to start with something other than a credit card. One of the most interesting things about states that allow online betting like Virginia does is the option for live betting, or in-game.
While most people associated sports wagering with bets that are placed before a game begins, a growing part of the betting industry is betting while the games are going on. Virginia sportsbook apps will offer a wide variety of live betting markets that are updates throughout the game, such as:.
The early days for legal sports betting are usually the best time for bettors to take advantage of these offers. Companies are trying to carve about marketshare early and will often be aggressive with their offers. Virginia will have at least four sportsbook apps but no more than a dozen at first. State legislators also approved up to five new casinos in the same bill.
Those casinos would be in addition to the 12 potential Virginia sports betting licenses.. An interesting part of the VA sports betting law allows for wagering at a major-league stadium yet to be built in the state. Daniel Snyder , owner of Washington D. The law covers any major-league team in the following sports:. That will not apply to tournaments involving Virginia teams in which other college basketball teams are participating.
There are a lot of unknowns in forecasting how much Virginia may see in wagers and revenue from sports betting. But it should be a robust market will billions of dollars in wagers annually. How did sports betting come to Virginia? Following a study that showed significant revenue potential for mobile VA sports betting, legislators again took up the cause of legalizing in Virginia.
Mirroring bills in the state House and Senate made quick progress through the chambers. The houses, though, ultimately passed different versions of sports betting legislation and the matter went to a conference committee to sort out differences. That bill escaped the legislature in time to get to Gov. Ralph Northam. Northam sent back the bill with changes including concessions to NASCAR and additional licensure feeds in the form of background checks.
The House and Senate approved these changes during a one-day veto session in April The Virginia sports betting bill features online wagering, as well as the required use of official league data to settle in-play bets. Virginia made its first foray into attempting to legalize sports betting in the Commonwealth in the first year after it became legal following the fall of the federal sports betting ban.
That effort produced some momentum and industry insiders thought Virginia sports betting could be one of the first to pass in That progress stalled though and the legislature settled for a study bill that took a deeper look into whether to legalize VA sports betting. The four major professional sports along with college football account for the bulk of wagers at legal US sportsbooks. No professional sports teams play their home games in Virginia at the present time. NFL betting, especially on the Super Bowl , drives revenue for most sportsbooks.
Betting on Major League Baseball sustains many sportsbooks throughout the summer months. Many days in summer, MLB games make up the overwhelming majority of available wagers in US sportsbooks. Fans of both teams in Virginia should make them the most popular baseball betting options. There are no NBA teams that play in Virginia but that should not stop bettors from enjoying action on pro basketball throughout the season.
In fact, NBA basketball is one of the more popular choices for live and in-play wagering because of the rapid nature of the game. NBA wagering on these teams should prove strong once Virginia sports betting launches. While no NHL teams play professional hockey in the state of Virginia, nearby teams will provide options for fans.
Betting on hockey does not generate enormous handle nationally, but the sport is popular in this area of the country. The Capitals in particular enjoy a strong fan base after winning the Stanley Cup in Sports betting in Virginia became legal in April and you can place a legal sports bet in Virginia as of January This met the timeline state regulators had to launch legal sports betting in Virginia early in VA sports betting will take place primarily via sportsbooks apps on your smartphone device.
The Virginia Lottery will be responsible for overseeing the new Virginia sports betting industry. Placing sports betting under lottery oversight is common throughout the US sports betting landscape. The lottery will take the lead on creating rules and regulations to govern the VA sports betting industry.
It also will be responsible for reviewing applications from sportsbook operators who want to launch sports betting apps in Virginia. You are able to bet on sports from anywhere within the state borders of Virginia. The two states accounted for a quarter of the more than 30 million t ransactions tracked in 17 US betting jurisdictions.
A Virginia Lottery spokesperson said he anticipated more than one sportsbook to take legal Super Bowl bets this year, but that was Thursday when FanDuel launched. The Virginia Lottery had 90 days to consider the 25 applications that were due by the end of October. A spokesperson noted, that 90 days starts once the lottery gets a complete application. But operators knew Virginia was on a tight schedule from the beginning. FanDuel partnered with the Washington Football Team , which got preferred treatment in the process because of a quirk in state law.
But DraftKings and BetMGM were approved just three days later under mobile-only licenses, so it would be surprising for nearly two weeks to pass without another operator launching. Mark Sickles filed legislation this month that would increase the total licenses allowed.
He wants to remove the preferred licenses for five potential casinos from the cap of 12 maximum mobile-only operators.