Virginia Lottery

  • Additional regulations for sports betting in Virginia are available for public view.
  • The additional regulations pertain to insurance requirements and more for sportsbooks.
  • Virginia sports betting is setting up to launch on January 2021.

RICHMOND, Va.The Virginia Lottery has posted additional regulations for sports betting on Monday.

With these additional rules posted, Virginia sports betting is one step closer to becoming reality.

What Regulations Are Posted?

The previous time that regulations were posted, the rules that were shown were meant for sports bettors. It allowed the public to see what to expect for sports betting in the state.

The additional regulations posted is meant for potential sportsbooks to look at. Regulations regarding insurance and licensure requirements are now available for the public eye.

“This is a lot of the really technical specifications for the platform operators,” said Kevin Hall, executive director of the lottery. “It includes some additional details on types of licenses that’ll be required. A lot of detail on internal controls that each operator is expected to provide. Kind of draws on best practices from other states. And leans into kind of the security and consumer protection aspects of each of the platforms that may seek a license to operate.”

With these new regulations posted, potential sportsbook operators can now begin building their business to host sportsbooks. In total, there are 69 pages of sports betting regulations that are now available for the public eye.

But the posted regulations are not set in stone just yet. The public can make comments on the posted regulations until September 9. Once that date passes, the Virginia Lottery could potentially make adjustments to the posted regulations.

On September 15, the Virginia Lottery must then approve regulations. Then the public will get a more solidified idea of what legal sports betting will look like in the state of Virginia.

Even then, it will still take some time before sports betting launches in the state. A public vote must happen in November to approve land-based sports betting in a handful of cities in Virginia. Once that hurdle is cleared, sports betting is expected to launch in Virginia in January 2021.

News tags: | | |