Richmond Casino Applicants Down to Three

Richmond Virginia
Richmond has narrowed down its field of casino applicants, rejecting three out of the six proposals submitted to the city last month.

Per an official statement from the city:

“The top ranked proposals stood out because the operators provided strong proposals with detailed financial and operational analyses to support their vision for a resort casino in Richmond.”

The applications of Bally’s Richmond Casino Resort, Live! Casino & Hotel Richmond, and One Casino + Resort. Meanwhile, the proposals of Golden Nugget, Wind Creek Hospitality, and Pamunkey Indian Tribe & Reservation were disapproved.

A Single Casino Operator

According to the press release, the three Richmond casino proposals were rejected due to factors like “lack of site control, concerns about the feasibility of financial projections, lack of organizational experience, and deficiency in the proposal”.

The decision was revealed as the city continues to collect public feedback on the resort-casino proposals it requested for last year. Under a new law introduced by the state last year, Richmond is allowed to have a single casino operator if local voters approve it in a referendum that the city is planning to hold this coming November.

Next Step

Now that the choices are down to three, the next step is for the Evaluation Panel to start negotiations with bidders while continuing to engage the community. The Panel is composed of seven administration officials plus city council members Andreas Adison and Ellen Robertson.

The city will be hosting three virtual meetings next week where the three advancing Richmond casino applicants will discuss their proposals and give citizens a chance to voice out their inquiries or ask questions. The meetings will be held virtually, via Microsoft Teams and these are open to the public. Those interested can join the meeting using a link, or by calling 804-316-9457 with phone conference ID 934 627 185.

BetMGM Offers Special Sports Bets at Buffalo Wild Wings

Closeup of Man Making Sports Bets on His Phone

BetMGM is offering a unique sports betting experience to customers who are physically present inside a Buffalo Wild Wings restaurant in select U.S. states. Using geolocation technology, sports fans can access custom promotions and bets when inside a Buffalo Wild Wings restaurant in Colorado, New Jersey, Indiana, Iowa, Tennessee, and Virginia.

Said BetMGM Chief Revenue Officer Matt Prevost:

“Our partnership with Buffalo Wild Wings is incredibly innovative and allows BetMGM to redefine how fans enjoy sports. The introduction of geolocation technology to offer bettors a customized experience in a Buffalo Wild Wings location is a great example of what we’re able to activate through this groundbreaking relationship.”

In-Bar Channel

At the same time, Buffalo Wild Wings also announced the launch of an in-bar channel dubbed as OT Odds Powered by BetMGM. The network will air on selected screens in participating sports bars nationwide. The channel will deliver sports betting contents such as live game odds, fantasy sports, and sports betting advice programs. 

In states where mobile sports betting is legal, a new and exclusive feature called Blazin’ Bets is now offered within the BetMGM app. This new promo has curated boosts, bets, and parlays available through a customer’s personal device. 

Picks and Props Upgrade

Buffalo Wild Wings’ free-to-play game Picks and Props, which is available via the company’s mobile app,  also received an upgrade in its design. The new features include a parlay-style gameplay with new BetMGM elements. BetMGM odds can be used to make picks from any state where free-to-play games are legal. Major Prizes are awarded monthly while select winners will be inducted to the newly created BWW Hall of Fame.

BetMGM and Buffalo Wild Wings entered into a strategic partnership in 2019. The agreement was the first of its kind between a gaming provider and a national sports bar. Since its launch,  there have been over 500,000 users who have played BWW and BetMGM free-to-play games.

 

More Information on the Richmond Casino-Resort is Coming Out!

Richmond Virginia

Virginia is still in the process of legalizing its casino industry. Some powerful casino companies are now getting ahead of the game, proposing their plans for future gambling properties here. Today, we’re going to talk more about the proposed Richmond Casino-Resort.

There has been a tremendous amount of attention placed on this venue. Many believe it will become one of the most popular new gambling properties on the East Coast. There is some major progress being made to get a casino here up and running.

Here’s what you need to know!

Virginia Continues Moving Towards Casino Legalization

Most of the states throughout the southern United States have tough laws towards casino gambling. That includes Virginia. For decades, lawmakers here have pushed against the legalization of casinos and some felt things would never change.

Recently, many lawmakers here have changed their thinking. Many have begun to realize how much revenue can be earned from this industry. Some of Virginia’s lawmakers are also seeing the huge demand for legal casinos from many state residents.

There have been some exciting updates lately. In early February, a state Senate committee decided to allow residents in five different cities to vote on whether or not to allow casinos. This is a huge move and is likely one of the final steps needed to get the state’s casino industry operational.

Many are pointing towards the economic benefits that legal casinos will bring to different areas of Virginia. That includes several low-income areas desperate for more employment and revenue opportunities. This seems to be the primary reason for this new push to allow casinos here.

Richmond is one area of Virginia working hard to host a new casino-resort. There have been several major companies expressing interest in opening a gambling property here. That includes Bally’s Corporation.

Bally’s officially submitted a proposal to operate this venue. Many are excited to hear what this major casino company has planned.

Bally’s Submits Proposal to Operate a Richmond Casino-Resort

Bally’s Corporation is well-known in the US casino industry. This company launched in 2004 and now owns and operates casinos around the country. Lately, the company has been looking to expand into new states.

This week, Bally’s submitted an official proposal to operate a new casino-resort in Richmond. The company revealed its plans to create and run a “state-of-the-art destination hotel, resort, and casino.” Bally’s has some big plans for this property.

If approved, Bally’s will open a massive 1.6 million-square-foot casino. It will feature a casino, sportsbook, hotel, and resort-style pool. A variety of restaurants and entertainment options will also be constructed here.

Bally’s is also teaming up with several different local companies to ensure this project moves forward in the best way possible. The construction of this property is expected to take 18 months and is expected to cost around $650 million. It is then projected to generate $415 million in gross gaming revenue.

George Papanier, President and Chief Executive Officer of Bally’s Corporation expressed his excitement about this project in an official statement this month.

“We are honored about the prospect of partnering with the City of Richmond as it embarks upon this exciting and unique adventure,” he said. “Our proposal represents an unprecedented project for the Richmond community that will embrace and showcase the city’s existing culture and traditions in an environment positioned towards entertainment and leisure. The Bally’s Richmond would provide the city with a vibrant new attraction that is sure to turn Richmond into a dynamic tourist destination.”

Nothing has been approved yet and it’s still unclear if Bally’s will be given permission to operate the casino in Richmond. These plans will certainly stand out with lawmakers, though. Stay tuned for more updates over the next few months!

Las Vegas Tourism Rates Are Expected to Increase Soon

Virginia is choosing to embrace the casino industry at an unusual time. For almost a year, land-based casino revenue has been on a steady decline around the country. Las Vegas has been hit the hardest by this economic situation.

Fortunately, there seems to be some light at the end of the tunnel. Infection rates around the United States are dropping right now. Some of Nevada’s leaders claim a loosening of restrictions is likely just around the corner.

These two factors will likely result in a major tourism boom in Las Vegas. Casino companies are banking on this fact. Some have recently chosen to resume weekday reservations. There’s a real sense of optimism for the city’s gambling industry.

2021 will also feature a number of exciting new casinos in Las Vegas. The most-anticipated is of course Resorts World Las Vegas. This property will be opening to the public sometime this summer and is the most expensive casino-resort ever built in Las Vegas.

Many are excited to see the new Virgin Hotel-Casino open its doors in Las Vegas soon, too. This property is taking the place of the former Hard Rock Hotel-Casino. Virgin is working hard to make this a truly special property.

Are you excited to hear Bally’s plan for a Richmond Casino-Resort? Let us know in the comments section below!

William Hill Mobile is the Latest Online Sportsbook to Launch in Virginia

State of Virginia Made out of Money With Sportsbook Background

William Hill Mobile became the latest Virginia sports betting operator after launching on Wednesday.

Partnered with Caesar Entertainment’s Caesars Casino in Virginia, William Hill Mobile is one of the leading online sportsbooks in the United States. It’s launch is just in time for Sunday’s Super Bowl LV in Tampa Bay. The Super Bowl is considered as the biggest betting event annually in the United States.

Said William Hill President of Digital Kenneth Fuchs:

“Just in time for Sunday’s Game, our Virginia app will give football fans over 1,000 ways to bet this incredible matchup, from the opening coin toss to whether the game will be decided in overtime.”

Live in 10 U.S. Jurisdictions

The William Hill Mobile app is now live in a total of 10 U.S. jurisdictions, namely Colorado, Illinois, Indiana, Iowa, Michigan, Nevada, New Jersey, Virginia, West Virginia, and Washington D.C. It also operates the trading services for the Rhode Island Lottery mobile app.

WIlliam Hill entered the Mid-Atlantic region in 2020 via its partnerships with the Washington Capitals, Washington Wizards, and Washington Mystic. By virtue of those affiliations, William Hill became the first sports betting company to operate inside a U.S. sports venue at the Capitol One Arena.

Operators Could Reach 20 in the Future

Virginia legalized sports betting in 2020 after a long legislative process. Legal Virginia sports betting was finally launched last January 21, 2021 with FanDuel went live on the launch date, earning the exclusive opening day rights because of its partnership with the NFL’s Washington Football Team. DraftKings followed on January 24, 2021 while BetMGM and BetRivers rolled out on January 27th.

State law allows up to 12 Virginia sports betting operators. However, this number could go up to 20 in the future with five proposed casinos in the state and two sports teams currently without sportsbook partners. These are not counted towards the maximum number of Virginia sports betting operators.

BetMGM, BetRivers Go Live in Virginia

State of Virginia Made out of Money With Sportsbook Background
Online sports bettors in Virginia now have four operators to choose from.

FanDuel was the first to launch in Virginia last Thursday. DraftKings followed on Sunday, just hours before the NFL’s Conference championship games. This week, two more online sportsbooks followed with BetMGM and BetRivers launching on Wednesday, just in time for next weekend’s Super Bowl LV game.

When Virginia sports betting was legalized, the state agreed to cap the number of sports betting operators to 12 after receiving a total of 25 applications for license. The General Assembly tasked the Virginia Lottery to screen the applicants and with four already live, that means there are 8 on the way.

Third Virginia Sports Betting Operator

BetMGM became the third Virginia sports betting operator after getting its temporary permit to accept wagers last Sunday. The operator, which is a joint venture between MGM Resorts International and Entain Plc. now has presence in a total of 12 states, including 10 with online sportsbooks. As part of its latest offering, Virginia bettors will get access to the MGM Resorts M Life Rewards Program.

The Roar Digital operated sportsbook recently announced a partnership with Major League Baseball’s Washington Nationals. The partners plan to open a retail sportsbook at Nationals Park in Washington D.C.

Partnership With Rivers Casino

BetRivers meanwhile, received approval to launch Virginia sports betting on Tuesday. After going live on Wednesday, BetRivers now has a total of 8 mobile states. The company has a deal for market access via a new casino which Portsmouth voters approved in last November’s vote. BetRivers is one of three operators partnered with a Virginia casino.

Caesars/William Hill (Danville) and Hard Rock (Bristol) are the other two Virginia sports betting operators partnered with a casino. When all is said and done, the state will have a total of five land-based casinos. However, the cities of Norfolk and Richmond, who have sold land and have agreed to let the Pamunkey Indian Tribe build and operate a casino, have not yet announced the names of the would be operators.

Rosie’s Gaming is Opening a New Casino in Northern Virginia

Rosies Gaming

Virginia has been slowly expanding its gambling industry for years. Rosie’s Gaming now operates slot-style gambling venues throughout the state. New reports claim that this company is set to open a new casino in Northern Virginia early next month.

Residents in this area of the state have reason to be excited! Today, we’ll talk about the details of this new gambling venue. We’ll also discuss some of the ways that the state’s gambling industry could change next year.

Let’s get into it!

Virginia’s Sports Betting Industry is About to Launch

Since May of 2018, every state around the US has been able to set its own laws on sports betting. The removal of PASPA completely changed the country’s gambling industry. 26 states have now officially legalized sports betting and most are earning a huge amount of revenue each month.

Virginia has been an anti-gambling state for many years. Lawmakers have been pushing against expanding the number of gaming options available. In November of 2020, however, the state finally approved sports betting legislation.

It’s the biggest move ever made for the gaming industry here. It will take time for any sports gambling options to become available, though. The state is currently working to come up with specific plans to regulate this industry.

Hope is that the first sports betting options will launch before next year’s Super Bowl. The Virginia Lottery Commission has yet to formally announce a launch date. The current plan is to allow approximately 12 different online sports betting sites to launch here.

This is expected to bring the state a huge amount of revenue every year. Analysts expect approximately $400 million to be wagered on sports in 2021. Interestingly, no land-based sportsbooks will launch in this state.

Virginia is slowly developing a casino-type industry, too. Several gambling venues have opened here recently. A new one is now set to reopen its doors in the northern area of the state!

Here’s What We Know About the New Casino in Northern Virginia

As we mentioned earlier, Virginia has been largely anti-gambling over the years. Finally, this past November, lawmakers approved a measure to allow casinos in five different cities. Hope is that these venues help to bring some much-needed revenue to these parts of the state.

There are already several casino-like venues operating here. Rosie’s Gaming currently operates three gambling venues throughout Virginia. These aren’t traditional casinos, though.

Instead, the venues operated by Rosie’s Gaming offer slot-style games to their customers. These games play similar to slot machines, but are actually tied to the results of past horse races. Players themselves are unlikely to notice the difference. It’s a sort of loophole that the state is allowing.

Rosie’s Gaming has just announced that it plans to open a new casino in Northern Virginia early next month! It’s easy to see why. Hundreds of millions are being wagered on these machines every month. Expanding is a great way to compete with the casino industry in neighboring Maryland.

This newest gambling property will open its doors in Dumfries. Mayor Derrick Wood believes this could help to make Dumfries a tourist destination with other residents in the north of Virginia.

“Everybody ain’t gonna like you, everybody ain’t gonna like me, and everybody ain’t gonna like every business that comes to town,” he said.“Dumfries has always been a place people drive through. Now we are trying to create a sense of destination.”

It won’t be long before real resort-style casinos open their doors in Virginia. We’ll continue offering updates on the gambling industry here over the next few months!

Online Casino Options Available in Virginia

Things tend to move slowly in the US gambling industry. It can sometimes take years for states to get their casinos operational after legalizing these venues. No one really knows when the casino-resorts in Virginia will begin opening their doors to the public.

Fortunately, there are some fantastic online casinos in Virginia available right now! Most of them are great, offering a huge range of different games and safe payment options. Our experts have reviewed most of the ones operating in the state right now.

We love Bovada Casino. This website launched back in 2011 and has become one of the most popular internet casino gaming platforms in the country. It provides all of the most popular casino games you’d expect including slots, table games, and poker.

Bovada also features an incredible live dealer casino section. This makes it feel as if you’re playing inside an actual land-based casino with a dealer connected via video stream. Check this site out today!

We’ll see the new casino in Northern Virginia open its doors early next month. It will be interesting to see how popular this new venue becomes in 2021.

Are you excited to see Virginia’s gambling industry expand? Let us know in the comments section below!

Danville’s New Casino Plans Are Already Paying Off

Caesars Entertainment Logo

Virginia’s lawmakers continue working to expand the state’s gambling industry. Not long ago, voters approved a measure to open a new casino in the city of Danville. New reports claim that Danville’s new casino plans are already paying off.

Caesars Entertainment is scheduled to operate this new casino. Today, we’ll talk about how this will benefit Danville. We will also look at some of the other states working to bring in casino revenue right now.

Let’s get into it!

Voters Finally Approve Plans to Open a Casino in Danville

It’s been very interesting to see Virginia’s gambling industry expand over the years. As many know, lawmakers here banned almost all forms of gambling for decades. Finally, this past March, officials approved a measure to start allowing commercial casinos in the state.

There were discussions about where the new casinos would end up. Officials in the city of Danville began pushing hard to host one of these venues. Before this could be approved, however, residents in the city would need to vote for its approval.

Many analysts were torn on whether or not this would take place. There have been many vocal anti-gambling advocates making their case heard in the state. On the other hand, many seemed to recognize the revenue potential from this industry.

Earlier this month, voters officially approved the plans to open a new casino in Danville. It was extremely exciting for gambling fans in the area. City leaders also expressed their excitement and claimed this new gambling venue would help to boost tourism.

Virginia’s gambling industry is growing quickly. Many now feel this state could end up becoming one of the largest gaming hubs on the East Coast. More casinos are expected to open here over the next couple of years.

We’re now starting to hear how Danville is already benefiting from its expanded casino plans.

Here’s Another Update on Danville’s Casino Plans

There were many requirements that went into the approval of a casino in Danville. As we mentioned earlier, Caesars Entertainment has been chosen to operate this venue. Under the rules, the company needs to grant Danville $15 million within 30 days of the vote to approve the new casino.

That’s a large amount of money for the city. Officials here have already figured out what some of this money will go toward. $5.9 million will be used to build a new police station off Memorial Drive. It’s unclear where the rest of this money will be allocated.

It’s clear that Danville’s new casino plans will benefit the city in a major way. Ann Vandervliet Stratton, who serves as a member of the Investing in Danville Committee, told the media this money should be used to fund public schools.

“I just hope that they [city officials] find a balance between supporting infrastructure needs to prepare for the casino with prior needs that haven’t historically been addressed,” she said. 

The original $15 boost isn’t the only money coming in. Analysts in Virginia believe that this casino will bring in an estimated $38 million to Danville every single year. Officials will need to figure out how to disperse this money, as well.

Danville is almost guaranteed to see a major boost in tourism with this casino open. Of course, hope is that the US land-based casino industry is in a better place by the time this venue actually opens its doors.

More Casino Revenue Reports Are Coming Out!

There’s been more interest in casino revenue this year than ever before. Analysts have been fascinated to see how different states’ casinos have been faring every month. Certain areas of the country are clearly doing better than others.

Las Vegas has been slowly improving over the past nine months. In March, all of the casinos here were completely shut down. They reopened in June, and tourism rates to the city have been slowly increasing ever since. Unfortunately, revenue remains far lower here than it was last year.

New Jersey has been seeing large revenue earnings, as well. Unlike many other states, New Jersey allows both online casinos and online sports betting options. This is helping to bring in a huge amount of revenue every month.

Some of the smaller gambling destinations in the country are seeing different revenue figures. Arkansas has been seeing lower revenue figures than in 2019. The casinos here have been successful in recent months, though.

Much of the progress being made here could soon come to an end, though. Many states are beginning to implement new health regulations right now. Some fear that casinos will eventually be forced to shut down around the country.

The good news is that Danville’s casino plans will benefit the city in a big way. Officials are already looking at ways to use the money coming in. Stay tuned for updates over the next few months!

Caesars Offers Exciting Update on the New Casino in Danville

State of Virginia Made out of Money With Sportsbook Background

Virginia’s casino industry is about to expand. On November 3rd, voters in the state approved a measure to allow a new casino in Danville. This week, Caesars Entertainment offered some exciting new updates on this property.

There are some big changes coming here. Some feel Virginia will soon become one of the largest casino destinations in the United States. Now is a great time to look at what Caesars has planned in Danville.

Let’s get into it!

US Casinos Continue Asking for Aid From the Government

It’s been almost eight months since all of the country’s casinos were forced to shut down. Incredibly, things haven’t improved by very much. Nearly all casinos are still seeing massive drops in their year-on-year revenue earnings.

The biggest US casino companies are suffering right now. Many have recently been forced to implement new safety measures recently. With cases of Covid-19 increasing around the country, casinos are seeing major dips in visitation rates.

Many of these companies are now asking for more aid from the government. Not long ago, the head of the American Gaming Association sent a formal aid request to the federal government. This official claims many of these companies could fail without support.

This includes some of the biggest casino operators in Las Vegas. Not long ago, the Sheldon Adelson-run Las Vegas Sands announced it was interested in selling many of its US casinos. Most agree this decision is due to the state of the country’s land-based casino industry.

Things are clearly tough for all casinos around the country. That doesn’t mean this industry is heading towards a complete downfall, though. Some states are actually working to expand their number of casinos right now.

That includes Virginia. News has just broken that residents here have approved plans to open several more gambling venues.

Virginia Approves Measure to Open New Casino in Danville

Lawmakers in Virginia have been discussing plans to expand the state’s casino industry for years. Much of the focus centered around whether or not to allow a new commercial casino in the city of Danville. Most residents here seemed open to the idea.

Many seemed unwilling to bring this idea to the ballots. Finally, a bill to officially add a new casino in this city was approved earlier this year. It then came down to a public vote appearing on November 3rd.

News has broken that the vote to open a new casino in Danville was passed unanimously. Caesars Entertainment is already selected to operate this new venue. The company released an official statement this week expressing excitement to break into this new city.

“Caesars Entertainment thanks the voters of Danville for their support of the referendum that will bring Caesars Virginia to Danville. We look forward to fulfilling the trust the voters have placed in us by bringing 1,300 good-paying jobs, tourism dollars and economic development to the City, and we are incredibly excited to begin construction,” the statement said. “We’d like to offer our sincere thanks to all of our supporters, especially the City of Danville team, our campaign steering committee, campaign committee co-chairs Delegate Danny Marshall, Mayor Alonzo Jones, Dr. Tiffany Franks and Tammy Wright-Warren, Campaign Director Steven Gould, Josh Norris and the entire campaign staff.”

Officials within Caesars went on to state that this casino would be competitive with the other gambling venues in the state. Groundbreaking is expected to take place in mid-2021. If all goes according to plan, the casino-resort will open its doors to the public by 2023.

It’s an exciting time for gambling fans here. It seems likely that the US casino industry will be back to normal by the time the new casino in Danville opens. We’ll continue offering updates on this venue over the next few months!

The Sports Betting Industry Continues to Grow in the US

There has been a serious debate growing over how the US casino industry will fare over the next few years. It’s an unprecedented time for this industry and things are constantly changing. There’s no doubt that the sports betting industry in the United States is growing rapidly, though.

Back in May of 2018, the US Supreme Court struck down PASPA, allowing each state to set its own laws on sports betting. Within just a few weeks, several states approved this new form of gambling. Today, more than 25 states have approved measures to regulate sports betting.

News has now come out that several states have just approved sports betting legislation. Maryland, South Dakota, and Louisiana have all officially approved measures to allow sports gambling. Officials and residents in these states recognize how much revenue legal sports betting can bring in.

Many of the top European sports betting companies are now making their way into the US market. William Hill has been operating in the country for years. Not long ago, Caesars Entertainment purchased this company and will soon take over all of its US assets.

Virginia approved sports betting legislation this year, yet no sportsbooks have begun operating here yet. Soon, all of the state’s casinos will feature sportsbooks. This should help to bring some much-needed revenue in.

Are you excited to hear about the new casino in Danville? Let us know in the comments section below!

3D Model of Hard Rock Bristol Unveiled For Public View

Hard Rock International Logo
Officials of the proposed Hard Rock Hotel & Casino in Bristol unveiled to the public on Thursday the architectural 3D model of the project which will be built on the former Bristol Mall property. The model will be on display to the public at the former Bristol Mall from September 17-19, 2020.

The project is being spearheaded by local business leaders led by Jim McGlothlin, CEO of The United Co. and Clyde Stacy, the president of Par Ventures and owner of the 46 acre property where the proposed casino and hotel will be built. Florida-based Hard Rock who will manage the facility.

More Than Just A Casino

According to Hard Rock International Senior Vice President of Business and Casino Development Sean Caffrey said that the project will cost upwards of $350M. He emphasized that the development is more than just a casino. As the 3D model revealed, there is a hotel with a rooftop bar and a cabana flanked resort pool.

Seven restaurants and four bars are being planned for the project. Retail shops will also be an attraction while there are other areas like a sports betting shop, golf simulators, and a racing facility for children.

The other side of the property is a huge concert venue for big-name acts. Caffrey said that they’re thinking of something like the Hard Rock Live concept which would have a 3,200-seat capacity for indoor entertainment with a dual-sided stage that opens up to an amphitheater which can accommodate 20,000 people in an outdoor setting

Perk Up The Economy

Before it can be built, the project has to be approved by a public referendum on November 3rd. If the project is approved after the November 3 vote, licensing will follow and that is expected to take three to six months to complete. Once it has obtained a license, the project could take up to two years to complete. Caffrey noted however that entertainment and dining options could be offered at a temporary facility after 90 to 100 days after the licensing period.

The Hard Rock project comes to Bristol at a time when the economy is bleeding due to the COVID-19 pandemic. While the long-term benefits, including a $15M annual tax revenues for Bristol, won’t be there until the project is completed, the construction will help perk up the local economy. Construction costs are expected to directly impact up to $20M to the city and it’s going to provide 2,000 direct jobs as well.

Virgnia’s “Sports Bettor Bill of Rights” Draws Flak From Major Operators

Virginia Sign

The public comment period on the proposed rules and regulations of sports betting in Virginia ended last Wednesday and some of the initial policies have received opposition from major gambling operators.

During the review process, major platforms like DraftKings and FanDuel have taken issue with some of the consumer protection rules that officials are proposing. One particular regulation that has received negative feedback is the one that requires the betting platforms to provide players with information that can help them make “informed decisions about their gambling”. These information include how the odds were calculated, odds of winning a bet, and the handle and payout amounts.

Other Issues That Drew Negative Reactions

According to the gambling operators, no other sports betting state in the United States has imposed a similar requirement. FanDuel in particular, noted that it recently offered 24 different bets on an NBA playoff game and that had nearly 300 potential outcomes and even more possible parlay wagers. Presenting the required information under Virginia’s proposed Sports Bettors Bill of Rights in real time will cause logistical problems on both processing power and screen space.

Other issues that drew negative reactions include the process of allowing players voluntarily ban themselves from sports betting for two years, five years, or for life if they feel they are losing too much money or if they feel they are getting addicted to gambling. The regulations also requires gambling operators to submit all marketing and advertising materials to the Lottery for pre-approval. The advertising rules also prohibit them from targeting minors and ads that violate “good taste” are disallowed.

Additionally, there is a proposed rule that bans betting on the Olympics, something which was not included in the legislation of the General Assembly. For this issue, the operators argued that excluding some sports evets would defeat the purpose of the legislation. Several companies also requested for a more lenient advertising policy where they won’t need a formal sign-off in advance.

Laying The Foundation of Virginia Sports Betting

The public review is being conducted by the Lottery to lay the foundation of the sports betting rules in Virginia. The outcome of the review will determine how quickly or not sports betting will launch in the state and what the bettors expect to see in the betting apps when they are officially launched. If all goes well, sports betting is expected to start next year in Virginia.

This year, the General Assembly passed a legislation authorizing the Virginia Lottery to hand out between four to 12 sports betting licenses in the state. Sports betting in Virginia will start online, largely via sports betting apps. However, it could eventually expand to the brick and mortar casinos being planned in different cities and the Colonial Downs operated Rosie’s gambling places.

The Virginia Lottery Board is expected to meet on Tuesday to vote on the new rules on sports betting. Once the rules and regulations are in place, the Lottery will begin accepting applications for sports betting licenses next month. Sports betting is expected to bring in an annual $55M in state tax revenues.