PointsBet Set to Join Virginia Online Sports Betting Market After Lottery Approval

By Ron Fritz

Another Virginia sports betting option will be available after the Virginia Lottery approved a temporary supplier license for PointsBet.

At its last meeting at the end of October, the Virginia Lottery said five sportsbooks were expected to launch in the coming months. One of those five will be PointsBet after the approval was posted Monday by the lottery.

"“Being awarded the opportunity to offer PointsBet’s market-leading speed and ease of use, unrivaled slate of betting options, and overall in-play excellence to the people of Virginia is a great achievement and responsibility,” Johnny Aitken, PointsBet USA CEO, said in a news release. “Alongside Colonial Downs, PointsBet is proud to partner with the Lottery in Virginia for our first lottery-regulated market license award. We couldn’t be more thrilled to further expand our exclusive relationship with NBC Sports – a staple to sports lovers in Virginia – and ultimately provide the great people in the state with the sportsbook they’ve been waiting for.”

PointsBet has a partnership agreement in Virginia with Colonial Downs Group, which was approved as a permit holder on Monday, according to the Virginia Lottery website.

An Australian gaming company, PointsBet is live in seven states after launching in West Virginia in August. It has an agreement in West Virginia with Penn National Gaming. PointsBet also plans to launch an online casino in West Virginia by the end of 2021.

At the October lottery meeting, it was announced that Bally Bet was expected to launch soon as Virginia's 10th online sportsbook. It was approved by the lottery in March, but its launch was delayed as parent company Bally Corp. worked to close a deal for Gamesys that was first agreed upon in March, according to reports.

The other operators expected to launch in Virginia have not been identified.

The VA gambling law permits at least 18 mobile sports betting licenses. The law was amended over the summer to separate sportsbooks partnered with five casinos from the online-only licenses. The amended law went into effect on July 1.


Golden Nugget Last to Go Live

Golden Nugget Online Gaming was the last online sportsbook to launch in Virginia. It went live on Sept. 30.

FanDuel, BetRivers, DraftKings, WynnBET, BetMGM, Unibet, Caesars Sportsbook (formerly William Hill Sportsbook) and Barstool Sportsbook launched in the state before Golden Nugget.

FanDuel Sportsbook was the first operator to go live in the state in January.

Coincidentally, Golden Nugget was approved by the state on March 15, the same day Bally Bet received its approval. Bally Bet was expected to launch in mid-November, according to a report at the last lottery meeting, so it could go live soon.


A Thriving VA Sports Betting Market

Virginia had a sports wagering handle of about $294 million in September, up 61% from August ($182.4 million). The September numbers are the latest available as the state typically posts its VA gambling report on the first of every month.

The September handle was the second best since the state launched sports betting in January. The record for Virginia sports betting handle was in March when the state topped $300 million ($304 million).

Through September — the eighth full month of betting in the state — Virginia sports bettors have wagered more than $1.9 billion.

Many states saw big jumps in September handle thanks to the start of the NFL and college football regular seasons.

Add in the start of the NBA and NHL seasons in October and Virginia could be seeing a record month when it reveals its October numbers.

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WRITTEN BY
VirginiaIsForBettors.com
Ron Fritz
Ron is managing editor of VirginiaIsForBettors.com. He spent nearly 13 years at The Baltimore Sun, including 12 as sports editor. He previously was sports editor at The News Journal in Wilmington, Delaware, for nearly eight years after serving as a news editor there for four years.
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Ron is managing editor of VirginiaIsForBettors.com. He spent nearly 13 years at The Baltimore Sun, including 12 as sports editor. He previously was sports editor at The News Journal in Wilmington, Delaware, for nearly eight years after serving as a news editor there for four years.
... Read More