Virginia’s suddenly lucrative online sportsbook industry grows by three

Nine online sportsbooks now exist online for consumers in Virginia following the approval of three more licenses to operate in the Commonwealth by the Lottery Board.

Barstool Sports, Bally’s, and Golden Nugget should have their apps and other features operational as NCAA March Madness commences later this week. That is good news for Virginia’s tax coffers as the industry just benefited from the Super Bowl that sent wagers above $100 million last month.

Analysts say Virginia could have as many as 19 sportsbook licenses on the books within two years thanks to legislation passed last month by the General Assembly.

The Lottery Board has acknowledged that those permits associated with one of Virginia’s five approved casinos will be given priority status. Bristol’s Hard Rock International Project near Exit 1 has not announced any long-term sportsbook plans.

(IMAGE: Associated Press)