Virginia Sports Betting Market Could Grow By 6 New Operators

By Ron Fritz

The Virginia Lottery expects Bally Bet to launch in the state in mid-November with five more sportsbooks expected to receive Virginia sports betting permits in the coming months, according to a presentation at its meeting Wednesday.

The Bally’s Corp. permit was approved by the lottery on March 15. Golden Nugget Online Gaming was the most-recent sportsbook to launch, going live in VA at the end of September.

The five sportsbooks that are pending approval from the lottery were not revealed at the meeting Wednesday. The goal for any sportsbook is to be live during the NFL season and the five awaiting approval are no exception.

The VA gambling law allows for at least 18 mobile sports betting licenses. It was amended over the summer to separate sportsbooks associated with the five casinos allowed by the state from the online-only licenses. It was signed into law in March and went into effect on July 1.


Nearly $300M in September Handle

The state usually reveals its monthly handle figures on the first of every month, but the presentation at the meeting suggested that Virginia had just under $300 million (about $294 million) in September sports betting handle. That is based on $1.965 billion being wagered since the market launched on Jan. 20 and where it stood in August.

The September total was about a 61.5% increase over August and would be its second-highest month after March’s handle of $304.1 million. That was just the second full month of sports betting in Virginia.


Golden Nugget Live

Golden Nugget online gaming didn’t make much of an impact on the September numbers because it launched at the end of the month, but the operator should help the state’s October numbers.

It joined FanDuel, BetRivers, DraftKings, WynnBET, BetMGM, Unibet, Caesars Sportsbook (formerly William Hill Sportsbook) and Barstool Sportsbook live in the state. FanDuel was the first to launch in January.

Golden Nugget was also approved on March 15, the same day Bally Bet received its OK from the state.

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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