Virginia Sports Betting

Regulations approved by the Lottery Board detail the types of betting deposit methods VA mobile sportsbooks may accept:

• Debit and credit card
• Electronic bank transfers
• Online and mobile payment systems
• Winnings, payouts, bonuses, and promotions
• Reloadable prepaid cards issued directly to customers
• “Any other means approved by the Board

Additionally, operators must process withdrawals within ten days of customers' requests.

Licensed VA betting sites must promote responsible gambling by providing information about self-exclusion options, notifying customers of the passage of time, giving bettors the ability to initiate cooling-off periods, not offering credit, and offering promotions that are not misleading.

Some of the key responsible gambling rules require operators to provide:

1. A prominent link to information about the permit holder’s self-exclusion program
2. A mechanism for a player to take note of the passage of time
3. The ability to initiate a “cooling off” period such as breaks in play and avoidance of excessive play
4. Practices and procedures on the site do not reinforce myths and misconceptions about gambling
5. Information about the website’s terms and conditions is readily accessible
6. Promotional or free games do not mislead players
7. Notification to players of age-verification procedures
8. Access to credit is prohibited
9. Fund transfers and automatic deposits are prohibited or restricted
10. Games display credits/spending as cash

Professional sports franchises in the MLB, NBA, NFL, NHL, and MLS that play five or more regular-season games per year in Virginia may apply for sports betting licenses.

Further, the VA Lottery is instructed to “give substantial and preferred consideration” to franchise applicants headquartered in Virginia and that remitted more than $200 million in state income tax withholdings for the 2019 tax year.

That rule resulted in FanDuel being the first online sportsbook to launch in Virginia due to its partnership with the Washington Commanders.

The team will reconsider its stadium's location in 2027 when its current lease for FedEx Field expires. The VA sports betting law could prove instrumental in convincing the Redskins to relocate to the Commonwealth.

The operators of sports facilities where a professional sports franchise holds at least five games per season may also apply for sports betting licenses.

Facilities that pay more than $10 million in payroll and employ 100 or more people are to be given substantial and preferred consideration.

Martinsville Speedway and Richmond Raceway are also permitted to apply for sports wagering licenses under adjustments to the legislation suggested by Governor Ralph Northam.

The legislation that legalized online sports betting in Virginia also paved the way for the construction of up to five land-based casinos, pending local approval via citywide referendums.

The question went to voters in five cities on Election Day 2020, and four of the five eligible cities approved casinos.

Voters approved casinos in Bristol, Norfolk, Danville, and Portsmouth, and construction on Virginia's first casinos got underway shortly after.

The one holdout was Richmond, which rejected a proposed $565 million ONE Casino + Resort.

The vote was narrow, with the "Nos" winning by a slim 1,200-vote margin. Richmond has a population of over 225k residents, third-largest among eligible cities.

Casino owners must pay a $15 million licensing fee and a graduated tax rate ranging from 18 - 30%.

The Lottery Board is directed by state law to issue a minimum of four sports betting permits and no more than twelve, but it's not that simple.

Virginia law states that a permit does not count toward the minimum if it is issued to a major league sports franchise, the operator of a major league facility, or a casino operator.

Additionally, a permit does not count toward the maximum if it is issued to a major league sports franchise or the operator of a major league facility.

Virginia Governor Ralph Northam signed additional legislation in March 2021 to clarify the law and definitively authorize up to twelve standalone mobile betting licenses.

Under SB 1254 and HB 1847, the Virginia Lottery may issue up to twelve licenses not tethered to casinos.

The bills also authorized sportsbooks to accept wagers on the Olympics and gave the state lottery the authority to authorize wagers on additional events at its discretion.

Proposition wagers and in-play bets are allowed except for prop bets “on college sports or a proposition wager placed on any type of possible injury, unsportsmanlike conduct, or any other officiating call."

Virginia online sports betting regulations (11VAC5-70-170) require the Director to post a complete Authorized Sports Events, Leagues, and Bets list on the Lottery’s website. The Director can update the list at any time, and operators can request specific leagues, events, bets. These requests must be made at least 72 hours before the event, and approval is at the discretion of the Director, based on the following criteria:  

1. Input from the sports governing body or conductor of the sporting event;
2. Whether the outcome of the sporting event is determined solely by chance;
3. Whether the outcome of the sporting event can be verified;
4. Whether the event generating the outcome is conducted in a manner that ensures sufficient integrity controls so the outcome can be trusted;
5. Whether the outcome may be affected by any bet placed; and
6. Whether the event is conducted in conformity with all applicable laws

Conversely, 11VAC5-70-180 allows a sports governing body to request the removal of approved wagers if it:

“has a good faith, reasonable basis to believe such restriction, limitation or prohibition is reasonably necessary to protect the integrity or the public’s confidence in the integrity of the sports governing body,”

11VAC5-70-190 requires operators to settle in-play wagers through official league data, supplied by the league or an approved third party, in most cases.

Per the Virginia sports betting regulations :

• A sports governing body may submit a request to the Director in the form and format required by the Director to require permit holders to use official league data to settle those bets placed after a sporting event has started.
• Unless a sports governing body, pursuant to this section, has requested that permit holders use official league data to settle bets, a permit holder may use any lawful data source for determining the result of a wager. A permit holder shall not purchase or use any personal biometric data unless the permit holder has received written permission from the athlete.
• A permit holder shall report to the Director the data source that it uses to resolve sports wagers. The Director may disapprove of a data source for any reason, including but not limited to, the type of wager and method of data collection.

One of the most unique aspect of Virginia's sports betting regulations is this passage found in 11VAC5-70-230:

“If a sports governing body notifies the Director that real-time information sharing for wagers placed on its sporting events is necessary and desirable a regulated entity shall share the information described in subsection L. with the sports governing body or its designee with respect to wagers on the sports governing body sporting events. Such information may be provided in anonymized form and may be used by a sports governing body solely for integrity purposes.”

Essentially, this allows the leagues to request proprietary wagering data from sports betting operators under the auspices of integrity monitoring.

11VAC5-70-140 requires operators to hold in reserve enough funds to cover all outstanding wagers and account balances.

That sum cannot be less than $500,000 and must equal or exceed the aggregate sum of:

1. Funds held by the permit holder in player accounts;
2. The total amount of funds accepted by the permit holder as wagers on sports events with outcomes that have not been determined; and
3. Money owed but unpaid by the permit holder to players on winning wagers.

Further, permit holders are required to maintain specific types and amounts of insurance:

1. General commercial liability insurance in the amount of $5,000,000;
2. Errors and omissions insurance in the amount of $15,000,000; and
3. Such other types and amounts of insurance as the Director requires.

And finally, the regulations allow permit holders to “offset loss and manage risk, directly or with a third party approved by the Director.” This can be accomplished via a liquidity pool in Virginia or, in a jurisdiction where the permit holder is also licensed.

All licensed Virginia online sportsbooks must craft house rules and submit them to the Director of the Virginia Lottery for approval. Each operators must provide policies and procedures covering the following subjects:

1. A method for the calculation and payment of winning wagers;
2. The effect of schedule changes;
3. The method of notifying players of odds or proposition changes;
4. Acceptance of wagers at terms other than those posted;
5. The method of contacting the permit holder for questions and complaints;
6. A description of prohibited individuals and others who may be restricted from placing a wager;
7. The permissible methods of funding a wager; and
8. A description of all types of wagers that may be accepted.

One house rule suggested by operators that regulators chose not to include: the ability to unilaterally void bets due to palpable errors. Instead, Virginia law grants the Director of the Virginia Lottery the exclusive authority to void bets due to errors.

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Read more about online gambling in Virginia, including sweepstakes casinos as an alternative below:

• Virginia Online Casinos

Online poker is not yet legal in Virginia.

The Virginia Lottery was authorized by a public vote in 1987 and then launched in 1989 where it contributes hundreds of millions of dollars towards education every year.

The Virginia Online Lottery launched online and mobile ticket sales in 2020 for customers 18 and older.

Players can visit valottery.com to download the official Virginia Lottery mobile app to buy tickets to draw games, play instant win games for real money payouts, check winning numbers, and see current jackpots.