BetMGM will join the top two US sports betting providers in the new space Virginia Market when the brand launches their mobile sports betting this week.
VA sports betting last started Thursday – to the surprise of many – when FanDuel Sports Betting accepted the state’s first legal bet. Three days later, DraftKings Sports Betting went live Sunday Afternoon on time too NFL Betting on the conference championship games.
BetMGM received their temporary approval on Sunday and will be accepting their first bet Wednesdayconfirmed a company spokesman.
These three sports bets are all we know about that Virginia Lotterypreviously secret licensing process. All in all 25th Companies have applied and we still don’t know how many will actually get a license, although it is certain that not all will be approved.
Busy first weekend for sports betting in Virginia
It seems pretty clear that there was a pent-up demand for Virginia and legal Michigan Sports betting that started on Friday.
There were 7.5 million Geolocation transactions of more than 400,000 Accounts across the two states over the weekend according to geolocation providers GeoComply.
The two states made up a quarter of the more than 30 million tTransactions tracked in 17th US betting courts. The total number of transactions has increased 260% compared to the previous year with seven additional stores from last year:
- Washington, DC
What’s next in Virginia?
There is definitely more sports betting in Virginia. It’s just unclear when.
A Virginia Lottery spokesman said he expected more than one sports betting to be legal Super bowl Betting this year but that was Thursday when FanDuel started. So BetMGM and DraftKings might be the only others started by February 7, 2021.
However, that doesn’t seem likely. Had the Virginia Lottery 90 days consider the 25 applications due by the end of October.
A spokesperson noted that once the lottery receives a full application, 90 days will begin. However, operators knew Virginia had a tight schedule from the start.
Most of these companies have applied in multiple countries and would likely have the necessary information in a timely manner, especially if a license is not guaranteed.
FanDuel is a partnership with Washington soccer teamthat were given preferential treatment due to a peculiarity of national law However, DraftKings and BetMGM were approved under mobile-only licenses just three days later, so it would be surprising if almost two weeks went by without another operator starting up.
Further VA sports betting licenses
Sports betting in Virginia got interesting even before FanDuel surprisingly announced the state’s launch last week.
Del. Mark Sickles submitted legislation this month that would increase the total allowable licenses. He wants to remove the preferred licenses for five potential casinos from the cap of 12 maximum mobile operator.
Sickles said that was his intention last year, but it wasn’t reflected in the bill.
The maximum market is thus at 17th Sportsbook operator, however, is before sports franchise is considered. The FanDuel license by the Washington Football Team gives Virginia a maximum of 18 operators for now.
More licenses could be on the way in case other major league franchises move their headquarters or build a new stadium in Virginia.