FanDuel Becomes the First Virginia Sportsbook
The Virginia Lottery approved FanDuel’s license last Wednesday. As a result, it became the first Virginia sportsbook to accept wagers the next day. The Lottery is slowly approving applications for sports betting licenses in the state.
The Virginia General Assembly approved sports betting last March. Thus, it started the licensing process in the state. According to the best bookie pay per head provider, 25 companies applied for online sports betting permits. However, only twelve licenses are up for grabs.
The Virginia Lottery listed FanDuel as an approved sports betting vendor. Its sponsorship deal with the Washington Football Team helped the sportsbook get approval. According to the Virginia sports betting law, the state would prioritize any major league sports organization that paid more than $200 million in taxes.
First Virginia Sportsbook
The Lottery would approve additional licenses soon. Thus, Virginians would have more betting options during the Super Bowl. According to BookiePayPerHead.net, the Super Bowl is one of the biggest sports wagering days of the year.
Becoming an independent bookie in the nation’s 12th largest population is difficult. The Virginia Lottery prefers giving licenses to established sports betting companies. After FanDuel’s launch, Virginia became the 20th state to offer legal sports betting.
At present, two neighboring states have legalized sports betting. The first one was West Virginia, which launched its sports wagering market in August 2018. D.C. followed in May of 2020. However, D.C.’s sports betting app has been criticized for bad odds and terrible geolocation.
Last November, Maryland voters approved sports betting on the ballot. Its state legislature started its session last week and will work on a sports wagering framework. A Maryland senator hoped that sports betting would be launched by summer.
In Virginia, sports betting will be available online during the start. However, state regulations allow retail sportsbooks to operate.
