The legalization of sports betting continues to pick up steam around the United States. Many states have embraced the change, welcoming the added economic boost to the state. Others have seen their bills meet opposition, as the legal battle has halted the fun, for now. Virginia sports betting has yet to materialize for citizens of Old Dominion but there is hope on the horizon. While some states around the country have seen their paths to legal sports betting blocked by the various shutdowns associated with COVID-19, Virginia may have slid in just under the wire. Let’s get into the top-five things you need to know for Virginia sports betting and VA online sports betting apps.
1) Is North Dakota Sports Betting Legal?
In short, yes. However, there’s a bit of a rub. In early March 2020, a bill for legal Virginia sports betting passed in both the state House and Senate. Online sports betting is also hoped to be allowed shortly after the brick-and-mortars gain the ability to accept wagers. Governor Ralph Northam sent the bill back with several recommendations, most notably asking that NASCAR be added to a list of sports teams that would be allowed to get their own betting licenses in the state. Gov. Northam also hopes to raise the cost for potential operators to do business with $50,000 required per key individual involved to have background checks.
2) What Bills are Currently Before the State Legislature?
Virginia sports betting became legal in April 2020. The state legislature passed a sports betting bill that should lead to VA sportsbook apps going live — and hopefully online sports betting as well — by the end of the year
State regulators are still working on drafting a rules and regulations document that will govern how sportsbooks operate in Virginia. Allegedly, the process was to begin in summer, and take a couple of months to complete. With the COVID-19 pandemic hitting, it’s uncertain if that timeline is still in play.
The Virginia lottery, which will oversee the sports betting aspect of things, said in May that they’re shooting for a mid-to-late December 2020 launch date.
3) What are the Next Steps for VA Sports Betting?
Getting the legislature to draft the rules and regulations that will allow for governance of sports wagering throughout the state is the biggest hurdle as of now. Once that has been completed and all the boxes have been checked in that realm, it seems likely the rest will proceed pretty quickly.
4) What are the Most Popular Teams to Bet on in Virginia?
The four major professional sports, as well as college football account for the majority of bets at legal US sportsbooks. No professional sports teams call Virginia home, but the state is a hot bed for NASCAR races.
The Washington Redskins, Baltimore Ravens and Carolina Panthers (kind of) play nearby, and would likely garner most of the attention from NFL bettors. The closest MLB teams are the Washington Nationals and Baltimore Orioles. As for NBA, it’s predominantly the Washington Wizards and Charlotte Hornets. Surprisingly, the NHL gets a bit of attention in Virginia, with the Washington Capitals being an NHL stalwart and the Carolina Hurricanes.
5) Is There Anything Else to Know About VA Sports Betting?
For now, any bets placed will have to be between friends or “friends.” But if the state’s other bill to allow five casinos within its borders is passed, as currently expected, there would be multiple in-person locations for Virginia sports betting. Additionally, any professional sports team or, thanks to Gov. Northam’s revisions, NASCAR-affiliated race track can apply for their own Virginia/online sports betting licenses. The move is reportedly designed to lure the nearby Washington Redskins or potentially other relocating professional sports teams to the state with the lucrative promise of additional Virginia sports betting revenue.
Although the state has yet to roll out any Virginia sports betting options, there seems to be hope and a highly motivated Governor to get bills that would allow both legal sports betting and casinos passed. Additionally, the state has continued to operate as business as usual with future political planning despite the COVID-19 pandemic. That bodes well for a future session to lead to a bill passed that would bring legal Virginia sports betting to the forefront sooner than one might think.
It is unknown which sportsbooks will offer online sports betting apps in Virginia but many of these brands are participating in new markets throughout the US legal market:
- DraftKings Sportsbook
- FanDuel Sportsbook
- PointsBet
- Fox Bet
- William Hill
- BetMGM
- Caesars
- Bet365
What are the Most Common Types of Bets I Can Make in Virginia?
Straight bet
This is the most common bet type and it is just a straight up single bet on a game. A point spread is determined by the oddsmakers with one team being favored by a certain amount of points. Let’s take a look at an example line below to give a clear indication of what a straight bet would be:
Boston Celtics -6.5 (-110), moneyline -320
at Cleveland Cavaliers +6.5 (-110), moneyline +260
O/U 206
The Celtics are favored by 6.5 points in this example. This means that if you bet the Cavaliers, you are getting 6.5 points, so if the Cavaliers win the game, or lose by fewer than seven points, you will win the bet because of your 6.5-point cushion. On the other side, when you are laying 6.5 points as the favorite, you would need the Celtics to win by seven or more to win the bet.
Final Score: Celtics 102 Cavaliers 98. Cavaliers would cover even though the Celtics won the game because the +6.5 point spread is enough to cover a four-point defeat.
Moneyline Bet
The moneyline is a bet where there is no spread; you are just picking the winner of the game. In the example above, the Cavaliers ML is +260, which means that for every $100 wagered, you win $260 if the Cavaliers win the game outright. They receive the plus side of the moneyline since they are the underdog and picking them rewards you with nice odds since they are projected to likely lose the game. On the flip side, if you bet the Celtics ML at -320, you have to bet $320 to win $100. They are the favorites so if you decide to bet the moneyline instead of the point spread, you are forced to bet additional money to win $100.
In the example above, the Celtics ML would be the winner as they won the game outright. The spread is irrelevant for a moneyline wager.
Over/Under
This is a straight bet wagering on how many total combined points will be scored in a game by both teams. For example, an NBA game may have an over/under of 210 points, which means that the oddsmakers are projecting a combined points total of 210 between the two teams. If you think the teams are going to score more than 210 points total, you bet the over, and conversely, if you think it’s going to be a defensive struggle, you can bet the under hoping that the total points scored equals 209 points or less.
Parlay
A parlay is a bet where you combine multiple bets into one bet and you get increased odds because you only win your parlay wager if all of your bets win. If you do a three-team parlay, you select three different teams from three different games and if you win all three of the bets you hit your parlay for longshot odds (6-1 so $100 to win $600). Going 0/3, 1/3, or 2/3 is all the same and you lose the parlay bet. It’s all or nothing which makes them tough to hit and is more of a home run type bet than a regular straight bet since there’s a chance for a big payoff.
Virginia Sports Betting FAQs
- Is Sports Betting Legal in State?
- How Can I bet in state?
- Will Virginia have Online Sports Betting or Sports Betting Apps?
- How Do I Open an Account?
- How Do I Deposit and Withdraw?
- Do I have to be in state to place a bet?
- What Games Can I bet on?
- What Companies Will be Offering Sports Betting?
- What Kind of Taxes Do I have to Pay?
- How Old Do I have to Be to Bet in State?
- What are the Betting Limits?
- Where Do I go if I have a problem?
Need more sports betting information? Check out the Awesemo betting home page.
