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Virginia May Soon Legalize Sports Wagering

Sports Betting

Many of the US states are legalizing sports betting However, in that long list, Virginia is not there. But it seems it is not far when the US State would also legalize sports betting. If everything goes as reported, then Virginia could legalize gambling as soon as next year. It has been under discussion for long. However, due to the opposition to gambling of the state, it has not been materialized. But, a fresh bill has been introduced now. The new bill asks for legal sports wagering and it would be in front of the legislators when they come in the next session.

Barry Knight has taken the initiative and has already pre-filled House Bill 4 or HB 4. Barry, a member of the Virginia House of Delegates is hopeful that the lawmakers would debate and find a way to legalize the sports betting in Virginia next year. Virginia maintains a very strong anti-gambling stance and the sports wagering is considered as a gambling activity. It is expected that the lawmakers would debate and separate these two things. In other words, the sports wagering would be made Non-Gambling activity.

HB 4 works in tandem with the Senate Bill 1126. This bill states that the state can utilize the funds and the resources to find out how other states are working with the sports gambling industry. The policymakers can also debate and argue about how the revenue benefits can open up the activity in the state.

However, the HB4 is anorexic and does not provide the small details of the activity and how does it work. It is nothing but a placeholder. It reads that the Virginia Lottery Board is to provide licenses for casino gaming projects. The minimum investment would be around $200m that includes land, infrastructure, equipment or even furnishings.

The bill talks about the full attention of the lawmakers but misses the minute and important details. Significant issues like Mobile Wagers, bets on the various college games, tax rates, licensing fees find no place in this bill as well.

The bill paves the way for the sports wagering. However, the final decision remains with the residents of the state. The bill says that a small number of licenses can be authorized to be precise, one license per region. However, the bill also empowers the residents to say Yes and No for the gambling facility in the region.

It is true that HB 4 has now started and Virginia may go ahead with the Sports Wagering. However, considering the anti-gambling sentiment, there might have some roadblocks as well.

Source: https://calvinayre.com/2019/11/22/business/sports-gambling-could-come-to-virginia-next-year/

About the author

Debopom Sanyal

Debopom Sanyal

Debopom is a web journalist and news enthusiast. He has been writing about world politics, science, health, finance, and technology. An avid sports enthusiast, Debopom has done his Masters in Finance and Bachelors in Engineering.

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