The Super Bowl on February 7 is one of the largest sports betting events of the year. New Jersey, Pennsylvania, Indiana and other states will attract millions in bets. Virginia hopes to join the club.
The Virginia Lottery, charged with regulating sports betting in the Commonwealth, expects to issue a dozen licenses for mobile sports betting apps in time for the game. The legislature has to first establish the legal language, according to Sportsbetting.legal. Tax revenue projections could top $30 million a year, based on a 15 percent rate.
Mobile sportsbooks tied to the casinos permits revenues to come in without waiting for the physical casino to be built. Proposed Virginia casinos with sportsbook permits include:
- Caesars Virginia—Danville
- Hard Rock Hotel & Casino Bristol—Bristol
- Norfolk Resort Casino—Norfolk
- Rivers Casino—Portsmouth
The lottery prohibits betting on youth sports, the Olympics and collegiate competition where a Virginia team is involved. Another wrinkle: in-game bets will be accepted for pro sports, but NCAA games will be limited to pre-game wagers.
