Virginia sees strong interest in sports betting permits13th November 2020 9:43 am GMT
US and international sports betting operators have shown strong interest in Virginia’s regulated market, with more than twice as many applications received as there are available permits.
The Virginia lottery said Thursday that it received 25 mobile sports betting permit applications during the two-week application period which ended on October 31, with the lottery now working to select between four and 12 operators to serve the market.
Virginia’s sports betting legislation allows a minimum of four and a maximum of 12 mobile sports betting permits to be issued, although the cap excludes applications tied to certain major league sports franchises that are headquartered in or play at a facility located in Virginia.
Permit holders will be selected on a number of factors, including their past experience and success with sports betting in the United Sates, their efforts to solicit minority investors, and the number of new jobs and tax revenues they expect to generate in the Commonwealth.
“The high level of interest by national and international sports betting operators validates Virginia’s efforts to strike an appropriate and responsible balance in its regulatory program for legalized sports betting,” said Virginia Lottery executive director Kevin Hall. “We are confident that the deliberative review process we are undergoing now will result in a successful program that protects consumers, athletes, and taxpayers.”
The names of the applicants will not be revealed.