Virginia already has a bill that authorizes the state’s lottery to allow 4-12 licenses to sports betting operators. This move is expected to generate around $55 million in revenue annually. The Virginia sports betting market will not open until 2021. This leaves the state ample time to come up with regulations. However, many proposed sports betting rules are getting a lot of negative reviews, and opposition from operators.
Similar to Bookie Pay Per Head Solutions, sports betting in the state will be done mostly online and through mobile betting apps. There will be retail sportsbooks eventually. But since the accessibility of online wagering is proving to be a profitable policy, Virginia will be focusing on online channels.
Proposed Sports Betting Rules
Currently, the Virginia Lottery is having a public review of the possible sports betting regulations. The public comment period ends this week. Then, they will meet next week to discuss the feedback. A lot of experts are against several consumer protection measures. For instance, there is a proposal to require operators to provide players with information to help them. Some of which are the odds of winning a wager, and an explanation of the odds, the payouts, and the handle.
This measure is unheard of. In Fact, many bookie pay per head reviews feature sportsbooks that do not do this. The sheer variety of betting options alone gives sports bettors a lot of possible wagers and outcomes. To ask sportsbooks to explain every single line will be a logistical nightmare.
There are a few other proposals, such as voluntary bans from players, advertising practices by sports betting platforms, and a ban on betting on the Olympics. These restrictions are somewhat unique, as many online sportsbooks do not have these restrictions. In fact, it has become very easy to open a bookie website nowadays. If these restrictions will be final in the state’s sports betting regulations, then it may make sportsbooks think twice if getting a license in the state would be worth the trouble.