The state of Virginia continues to make progress in creating a legal framework for sports betting and casino games. The issue has been debated extensively this year after the coronavirus outbreak and the upcoming November vote where voters will decide whether casinos are accepted or not.

The Virginia lottery has already pre-approved four developers who plan to settle in the state. Likewise, the draft regarding the rules for the launch of the legal sports game is now ready.

For now, Virginia Lottery officials are facilitating the planning and competition process for casino developers considering building casinos in Portsmouth, Bristol, Norfolk and Danville. Although this does not mean in any way that they can already start moving their machines in those areas.

Precertification should not be viewed as an endorsement of a specific proposal or the choice of a preferred casino partner in any city. It also does not represent a guarantee that a casino license will eventually be granted, Virginia Lottery Chief Executive Kevin Hall said in a statement to WAVY.

Developers who have expressed an intention to participate in this process are the Pamunkey Native American Tribe, Hard Rock International and Rush Street Gaming. Everything will depend on the response of Virginia voters in the elections of next November.

After the elections and in the case of the voters approve the consultation, the Virginia Lottery will analyze the operations of the participating companies and must approve the casinos emergency regulations.

On the other hand, the Lottery has already finalized the draft on how sports games will be introduced in the state. Last Wednesday it made the presentation of the draft that is now available for public consultation before its implementation with the final regulations on November 15. That is, shortly after the NFL regular season kicks off early.

If there are no changes to the sports schedule due to the pandemic, the season should begin on September 10 with the opening game between when the Kansas City Chiefs, defending champions of the Super Bowl, and the Houston Texans.

The regulations provided include sports betting on games from professional and university leagues, with the exception of Virginia teams. The total number of approved licenses for mobile bookmakers will be 12.

To operate, the licensees will have to rely on the official data of the league, the cost of which must be paid to the leagues themselves. In addition, sports betting will have to make a contribution of 15% of its income to the state.

The chances of voters approving the states casino installation and the expansion of the game are quite high due to the economic ravages caused by the coronavirus.

Along with the legalization of sports betting and casinos, the state will receive more income and more jobs will be created in the five cities, including Richmond, where only bookmakers can be installed.

Source: https://calvinayre.com/2020/07/17/business/virginia-inches-closer-to-regulated-sports-gambling-casinos/

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Virginia is Closer to Regulated Sports Betting and Gambling - Tunf News - Tunf.com News