Are we a gathering away from extra sportsbooks in Virginia?
Ready for a déjà vu? Another conference is coming to resolve a problem Virginia Sports betting legislation.
SB 1254 from It is. Jeremy McPike and HB 1847 from Del. Mark Sickles I want to do the same thing: expand allowed operators and add more betting markets.
But their chambers seem to have different priorities. A change to minority stakes in potential sports betting operators in the state appears to be holding back the bills.
Both bills bypassed the opposing chambers after receiving the substitutions, but unanimously failed when they returned to their original chambers to approve these changes. For this reason, the two bills will likely be discussed in a conference FridayBefore the final farewell next week, McPike’s office announced to LSR.
This is the same scenario as last year when the chambers were unable to rule on certain aspects of the proposed VA Sports Betting Act.
Big difference in Virginia sports betting bills
Sickles’ bill received an amendment in Parliament that provides “substantial and preferential consideration” for any sports betting applicant who focuses on minority stakes:
In granting permits to operate sports betting platforms prior to July 1, 2025, the director will give significant and preferential consideration to any applicant who provides in their application (i) a description of any minority interest or minority owned company. (ii) a detailed plan to achieve increased minority participation; (iii) a description of any efforts that have been made to achieve minority or minority participation; or (iv) a plan detailing the efforts to listing minority involvement or minority ownership companies in the applicant’s purchase of goods and services related to the sports betting platform or in support of a historically disadvantaged community or historically black colleges and universities in the Commonwealth.
It is unclear how this change would affect the already licensed sports betting providers if passed.
Additional mobile-only licenses on offer
The good thing about the proposals is that they do not take anything away from customers who are already betting on the market. FanDuel Sports Betting suddenly the state sports betting market started 21th Januaryand since then there has been a slow trickle of sports betting.
So far there is five Online sports betting licensed and live, but only two Of these are pure mobile phone licenses: BetMGM and DraftKings Sports Betting. FanDuel’s partnership with the Washington soccer team has no effect as agreements with professional teams are exempt from any license cap.
BetRivers and William HillThe licenses, on the other hand, are currently counted towards the mobile-only maximum of 12 Licenses. That was not the intention of last year’s bill, both sponsors stated.
Should the proposal be accepted, Virginia could have up to 17 Mobile sports betting before team partnerships such as FanDuel are taken into account: 12 pure mobile network operators and five mobile network operators who are bound to a casino license.
More betting markets too
The proposal will not only allow more sports betting providers. There is Virginia’s weather more to bet on.
The Virginia Lottery Ultimately, he turned down operators’ requests to allow betting on that Olympia in drafting regulations in the last year.
The McPike and Sickles bills now specifically allow betting on the Olympics. Betting on other international sporting events that are technically amateur sports is also allowed.
The two clearly do not want to deal with this topic again. The bills give the Virginia Lottery executive director the authority to authorize sports betting markets.