Virginia Establishes Narrow Window for Sports Betting Permit Applications
The Virginia Lottery Board will accept applications for sports betting permit holders beginning October 15, 2020. All applications for such permits must be filed on or before October 31, 2020. After October 31, 2020, applications for sports betting permits will not be accepted again until the next annual application period — May 15–31, 2021.
The Virginia statutes permitting sports wagering provide that the Virginia Lottery Board shall issue no fewer than four permits and no more than 12, subject to certain limited exceptions applicable only to major-league sports franchises and major-league facilities and casino operators.
Applications for suppliers and vendors are not limited to the time periods described above and may be filed at any time. These other participants (such as platform providers, payment processors, and independent testing labs) must be approved by the Virginia Lottery Board.
The Virginia Lottery Board is scheduling conference calls to consult with potential applicants to discuss the specifics of necessary entity and personal applications required for licensure.
There are specific definitions for sports betting permit holders, suppliers, and vendors under the Virginia regulations for sports wagering. Industry participants should consult with counsel about their individual circumstances under the Virginia requirements.