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Online sports betting has become a driving force for the industry nationwide, and this holds true for Virginia as well. There are several other online sportsbooks available in the state, with potential for more to come. Check out this list:
- Bally Bet
- Betfred
- BetMGM
- Caesars
- DraftKings
- Fanatics Sportsbook
- Hard Rock Bet
- ESPN Bet
Rules and Regulations for Betting in Virginia
One of the key aspects to understand about betting in Virginia is that it was initially launched as an online-only market, though this may eventually change with the introduction of retail sportsbooks.
In addition to residents, visitors over the age of 21 are also permitted to place bets while in the state. However, one exception is prohibiting bets on in-state college teams and games.
To create a steady market, Virginia referred to the regulations of other states with established sports betting. Lawmakers have also been continuously working towards enhancing these rules.
Popular Options for Virginia Sports Betting
While there are no professional sports teams in Virginia, neighboring state Washington D.C. is home to some popular options. Accordingly, most VA bettors tend to follow these teams, as well as those of adjacent states.
The Washington Commanders are a fan favorite in the state despite recent struggles. As NFC betting remains highly sought after, the Baltimore Ravens are also a top choice for VA sports bettors.
NBA fans in Virginia often place bets on the Washington Wizards, but also look to the Charlotte Hornets. While less popular options, the Washington Nationals of MLB and the Washington Capitals of NHL still attract attention from bettors.
Due to state regulations, betting on in-state college teams like the Virginia Cavaliers and Virginia Tech Hokies is not allowed. However, other college games and the popular NCAA Tournament are still open for wagers.
Tips for First-Time Sports Bettors in Virginia
With the constantly evolving sports betting industry, it can be challenging to stay updated on all changes. However, there are some tips that can help first-time bettors be successful from the start.
Creating a bankroll management plan is crucial for beginners in Virginia, as it allows them to remain in the industry longer. Ensure only to invest an amount you can afford to lose when making this plan.
Familiarizing oneself with various betting options is also essential. Each type of bet comes with different odds, so diversifying bets increases chances of winning.
Consider subscribing to a service that provides betting picks and predictions for additional guidance. While still conducting individual research, obtaining outside assistance is nothing to be ashamed of.
History of Betting in Virginia
It wasn’t until 2021 that Virginia finally legalized and launched sports betting, which came as a surprise due to the state’s strict gambling laws.
Similar to Tennessee, Virginia initially opted for online-only sports betting options. While there have been some changes since then, most bets are still being placed at online sportsbooks.
Despite not being one of the largest markets in the United States, Virginia has shown impressive numbers since its launch. As the U.S. sports betting market now includes more than 30 states, it continues to expand and is expected to reach a total handle of over $300 billion by the end of 2023.
Virginia’s contribution has been significant, with bettors and sportsbooks alike experiencing success since early 2018. Their journey to legalizing and launching sports betting has been a positive one for the industry as a whole.
When the idea of legalizing sports betting was first brought up, lawmakers showed a positive attitude towards it. However, as Virginia had no commercial casinos, there were some hurdles to overcome.
Ultimately, lawmakers agreed to legalize sports betting alongside the establishment of casinos in the state. After identifying five cities in need of financial assistance, they were given the opportunity to host a casino.
Despite a slow process in getting these casinos operational, online sports betting is already available in Virginia. Along with legalizing sports betting, residents will soon have access to various physical casinos throughout the state.
Breaking Down the Legalization of Betting in Virginia
After the federal ban on sports betting was lifted in 2018, many states immediately began discussing its potential. However, it wasn’t until a year later that Virginia joined the conversation.
In order to thoroughly assess the impact of sports betting, a commission was set up and presented favorable results, leading lawmakers to take action towards legalization. Even Governor Ralph Northam was supportive, making changes to the bill for improvement.
On January 21, 2021, online sports betting launched in Virginia and was met with great success. This prompted new bills to be introduced in 2022, but none have been passed yet, including a change that would allow betting on in-state college teams.
Currently, there are limits to the amount of betting allowed, and Richmond residents will vote in November 2023 on whether or not to allow the construction of a casino.