Legal Sports Betting In Virginia
In Virginia, they sure love sports. From NASCAR to the Nats, from the Caps to the Wizards, their teams are in it to win it, every single year. As if that wasn’t enough, the Virginia General Assembly just legalized sports betting.
Ever since the fall of PASPA, sports betting has been sweeping the nation. States as small as West Virginia have now legalized online sports wagering. By comparison, Virginia has the potential to be a thriving market. With a population of nearly nine million, big brands are certain to open up shop.
DraftKings, FanDuel, and Caesar’s are just the beginning. In this guide, we’ll clue you in on everything you’ll need to know about legal sports betting in Virginia.
VA Betting Apps
While sports betting is technically legal in Virginia, legislators are still hashing out rules and regulations behind the scenes. As of now, it appears these preparations will be complete by September 2020.
If this timeline holds, Virginians should be able to bet on sports by the end of 2020. Which sportsbooks are expected to come to Virginia? According to news releases and rumors we’ve heard, these are the operators we think will eventually make their debut:
- DraftKings Sportsbook
- FanDuel Sportsbook
- Caesar’s Sportsbook
- FOX Bet
- William Hill
Apart from Caesar’s, DraftKings, and FanDuel, the other players liated above have yet to commit to VA. However, given their presence in smaller markets, players like FOX Bet and William Hill are likely to open up their sites to Virginian sports bettors.
Virginia also legalized land-based casino gaming in 2020. When they legalized sports betting, they carved out an exemption for five casino-linked operators. In the future, these operations may open their own online sports betting portals.
Free Bets, Risk-Free Bets & Deposit Matches in Virginia
We expect legal Virginia sportsbooks will launch with lucrative welcome bonuses. These packages can take various forms, but generally speaking, there are three types. They are as follows:
Free Bets – Free bets come as advertised – these are no-strings attached tokens you can use to wager on any market. If you win, you keep the profits, but not the stake.
Risk-Free Bets – Risk-free bets act as an insurance policy on the outcome of your first wager. If you win, great! If you lose, your sportsbook will refund your wager up to a certain amount. Refunds can be in real or bonus cash.
Deposit Match Bonuses – Mostly common in online casinos rather than sportsbooks, this promo matches your deposit (up to a certain amount) with bonus cash. The matching percentage also determines how much you’ll get. For instance, if you deposit $100 on a sportsbook offering a 50% up to $250 deposit match, you’ll get $50 in bonus cash. If the deal was 100% up to $250, you’d get $100. To max out the latter offer, you’d have to deposit $250 to get $250 in bonus funds.
At present, we don’t know what offers will be available to Virginia bettors. However, given what we know about likely operators, these deals are likely to be good from the get-go. Virginia is a big state, so welcome offers should get better as competition mounts.
If you haven’t wagered online before, Virginia sportsbook welcome offers can seem too good to be true. While these deals are indeed legit, there is a catch.
When you take advantage of a welcome offer, you’ll often receive bonus cash. Bonus cash can’t be withdrawn immediately. To do that, you must bet through your bonus balance a set number of times within a set timeframe.
Also known as wagering or playthrough requirements, these obligations exist to protect sportsbooks from hit-and-runners. Once complete, you can withdraw whatever is in your bonus balance.
Wagering requirements are commonly applied to deposit match bonuses and risk-free bet payouts. Free bets usually pay out in real cash, but you do NOT keep the stake.
Legal Sports Betting In Virginia – Promos
There is more to the best Virginia sportsbooks than juicy welcome bonuses. They also offer ongoing promotions that are fun and lucrative. They vary in structure, but you can boil them down to a few specific types:
- Reload Deposit Bonuses – Just like the ones offered in online casinos, this promotion matches reload deposits with bonus cash. Wagering requirements vary by offer – check the fine print for details.
- Profit/Odds Boosts – While you are filling out your bet slip, you may be offered a profit or odds boost. If you select it and win your wager, you’ll get more cash than you otherwise would. Profit boosts increase your profit by a set percentage (up to a cap.) Odds boosts artificially improve odds in your favor – when you win, the amount is larger.
- Parlay Insurance – How often have you fallen one bet short of winning a parlay? If you’re like us – too darn often. Parlay insurance promotions refund your stake when you lose a parlay by one wager. These promotions may pay you in bonus cash – check promo terms and conditions for details.
And that’s just the tip of the iceberg – there are many more creative promos out there. For instance, on bet365 New Jersey, they offer a money-back promo if a soccer match ends in a scoreless tie. Another promo offers to pay out straight bets if your soccer team goes ahead by two goals.
Check the promotions section of top Virginia sportsbooks to learn about their latest ongoing promos.
Banking at a Virginia Online Bookie
What banking options will Virginia sportsbooks offer? It’s too early to say for sure. However, we have a general idea of what will be available, based on what significant players already offer in other states.
When the first Virginia sportsbooks go live later this year, here are the deposit options they’ll likely offer:
- Credit Cards (MasterCard/Visa)
- Bank Transfers
For most people, credit card deposits and bank transfers will work best. Just enter your details, and with the click of a mouse, you’ll have a bankroll online. Deposits process immediately, so you can begin wagering on sports straight away.
While those two methods are the most popular by far, they do present privacy issues. When you deposit using your card or bank, your sportsbook’s name will appear on your monthly statement. PayPal and PayNearMe are two great ways to get around this problem.
PayPal is a globally-respected e-wallet. Most commonly, people use this service for online shopping. When you move cash to/from this site, PayPal appears on your statement, not your sportsbook. PayNearMe allows you to turn physical money into an online bankroll. A cashier receipt is the only paper trail that this method produces!
Virginia sportsbooks may also offer these deposit options:
- Play+/Prepaid Cards
- Cash at the Cage
Play+ or casino-linked prepaid cards allow you to load cash on your card with ease. Skrill is an e-wallet that is purpose-built for online gaming and sports betting. And lastly, Cash At The Cage allows you to deposit with physical cash at a partner land-based casino.
These options are available in some states but are not present in others. Their availability in Virginia will depend on either state regulations, or the willingness of Virginia online sportsbooks to offer them.
With a few exceptions, you’ll probably withdraw from legal Virginia sportsbooks the same way you deposited. Here’s what we think they’ll offer for withdrawals at launch:
- Bank Transfer
- Paper Checks
If you deposited via credit card or PayNearMe, you won’t be able to withdraw via these channels. In this case, any of the above methods will likely be available. Withdrawals are NOT instant – for security reasons, the site operator reviews every transaction. This step usually takes a few hours, but it can take up to a day to complete.
When your withdrawal is approved, allow 2-3 business days for it to land in PayPal. It takes 3-5 business days for a bank wire to process, and paper checks take 7-10 business days to arrive in your mailbox.
Legal Online Sports Betting In Virginia – Conclusion
Virginians will soon have online sports betting options that are 100% legal. In April 2020, disputes over high licensing fees and on-site NASCAR sports betting threatened to stall legalization. After much debate, though, SB 384 finally passed.
As of now, Virginia sports betting appears to be on track for a December 2020 start. As things change, watch this page for updates.
- Can I bet on sports online in Virginia?
Not yet. In late April 2020, house bill SB 384 was passed by the Virginia General Assembly. Governor Ralph Northam then signed it into law, but additional steps need to be completed before betting can begin.
In July, the Virginia Lottery will start drafting rules and regulations – they are expected to be ready by mid-September. If all goes well, the first sports betting operations may start accepting bets by December 2020.
- Are online casinos legal in Virginia?
No. While legislation legalizing land-based casinos passed in 2020, there is no provision allowing for online casinos.
- How old do I have to be to bet on sports in Virginia?
You will need to be 21 years old to wager on sports in Virginia.
- Can I bet on instate college teams?
No, you can't. The law prohibits betting on any Virginian college teams, and the sport doesn't matter. So betting on Virginia Tech or Cavaliers is completely forbidden according to the law.
Gladly the law doesn't forbid betting on local professional teams, so you can get your bets in legally for Redskins and Nationals.