The Virginia Lottery has released a timetable for the launch of mobile sports betting. All legal sports betting in Virginia will be conducted through the internet only.

According to the lottery’s FAQs on its website, “the Lottery Board will hold a public meeting in mid-July (date TBD) to promulgate draft regulations. A 30-day, at minimum, public comment period will ensue. Final Board approval of regulations must occur before September 15, 2020.”

Following final Board approval of regulations in September, the Virginia Lottery will begin accepting applications for sports betting permits. The Virginia Lottery will issue no more than 12 and no fewer than four permits. However, “a permit shall not count toward this minimum if it (i) is issued pursuant to an applicable major league sports franchise or to the operator of a major league facility or (ii) is issued to an applicant that operates or intends to operate a casino gaming establishment.”

Since the Virginia Lottery will issue a permit decision within 90 days of receipt of a completed application, it will probably mean that launch won’t occur until winter 2021.
There will be a 15% tax levied on a permit holder’s adjusted gross revenue. The tax revenue will be distributed as follows: 2.5% to the Problem Gambling Treatment and Support Fund; the remaining 97.5% to the Commonwealth’s general fund.

Virginians cannot place a legal sports bet until the new sports betting platforms have been granted permits to operate in the Commonwealth.

When legal sports betting commences in the Commonwealth, wagers will be permitted on professional sports, certain college sports, and other sporting events, as well as wagers on the individual performance statistics of athletes in such sports and events. “Sports betting” includes any system or method of wagering approved by the Lottery, including single-game bets, teaser bets, parlays, over-under, moneyline, pools, exchange wagering, in-game wagering, in-play bets, proposition bets, and straight bets