Several Virginia lawmakers are drafting legislation to introduce in the New Year that would legalize sports betting in the state.
One of the first to announce a bill was Senator Chap Petersen, who said his proposal would legalize betting on professional sports and create an agency to regulate it, with taxation of the activity to benefit tuition reduction at community colleges.
Petersen told the Richmond Times-Dispatch: “It recognizes the reality that sports gambling is pretty much a reality. We’ve already done daily fantasy and that’s widespread. This is just sort of taking it to the next level where a number of states are already going.” His bill would forbid betting on college sports.
Rep. Mark Sickles said that his proposal would bring the state $41 million in taxes annually. He would use the money for research at the state’s universities. His bill would also not allow betting on college sports.
Governor Ralph Northam says he is open to casino gaming in the state, although such an expansion would face a hard slog in a legislature where conservatives still hold majorities in both houses.
Petersen acknowledges the challenge but predicts that sports betting will be legal in all 50 states within five years. His bill wouldn’t need a casino for sports betting but would allow it at existing racetracks and off track betting sites. The Virginia Lottery might be another potential operator, and some legislators have said they favor that approach.
Sickles, who supports taxing the activity at 15 percent, told the Times-Dispatch: “This legislation provides a framework for an open, transparent and responsible market for legal sports betting.”
