Looking at sports betting legislation in the US for 2020, only 1 state has so far signed a sports betting bill into law. Washington will offer sports betting, but only in tribal casinos. Virginia may offer sports betting and be the second state this year to allow it so. Will their policy be more comprehensive than Washington’s?
Governor Ralph Northam has requested some changes to the sport betting and casino bills that state lawmakers have. If this passes, Virginia will have more than sports betting and be able to offer online and mobile sports betting and casinos, similar to what you will find in bookie pay per head sportsbooks.
Virginia May Offer Sports Betting Soon
Even if the sports world is currently on pause, Virginia legislators are still getting ready for its return. If the governor signs the bill into law, then we will be seeing a new betting market open in the US. The casino bill, which has approval since Wednesday, will authorize five casinos in the state to operate and allow sports betting. Unfortunately, it will not be as simple as building a pay per head bookie website. Each town will vote via referendum this coming November. The vote will be if they will allow a casino in their cities.
The Virgina Lottery will be handling regulation of sports betting in the state. They will create and implement guidelines for sportsbooks to follow. As part of the changes, NASCAR tracks in the state will also be able to offer sports betting. They may also even offer mobile sports betting.
But, unlike the affordable cost of bookie PPH solutions, Virginia will ask for a $50,000 fee. This fee will be for a background check for sportsbook principals. Taxes on sports betting revenue will be at 15%. The licensing fees will be $250,000 for the first 3 years, with $200,00 every three years after.