Ever heard of Virginia as a gambling state? That is because it is one of three states (N.D.C., R.I.P.) where gambling is banned entirely. However, Virginia does allow sports betting. It is against the law to operate a sports book in Virginia without having the consent of the Commonwealth.
Virginia is not alone among the Eastern seaboard states in terms of embracing the recent trend towards sports betting. In fact, it has become one of the whole host of sports book operators who have opened their doors to bettors across the board. If you live in Virginia and are looking forward to placing bets on major sports, then you have come to the right place. We will take a look at some interesting facts about Virginia as a place to enjoy some sports betting action.
First of all, Virginia is home to many of the top professional sports franchises in the country. Some of these include the Virginia Cavaliers of the National Basketball League, the Richmond Bullets of the Eastern Conference, the Washington Wizards of the Eastern Conference, and the Norfolk Admirals of the Atlantic Conference. Indeed, Virginia has a long standing tradition in supporting numerous sports teams and events and its sports books are considered among the best in the country.
Now, let us take a look at Virginia’s sports betting laws and how you can get a sportsbook in Virginia. You may be wondering what makes a sports book “sports betting” in this state? First, it is not necessary that you live in Virginia to enjoy sports betting. If you are a resident of Virginia, but are looking forward to enjoying your passion for sports betting from across the rest of U.S., then you can still do so and enjoy some major winnings from your favorite teams.
In fact, there are several online sportsbooks that allow you to place bets on both in-state teams and out of state teams. Virginia residents who wish to place bets on Virginia in basketball, football, or other sports are therefore not required to have a Virginton address to enjoy their free bet, or a Virginia Social Security number to place bets on Virginia in those sports. In fact, even residents of neighboring Maryland are allowed to enjoy the thrill of online sportsbooks like Power Sportsbook.
Next, Virginia became legal last August to operate sports betting apps. This was the first step toward realizing Virginia’s dream of becoming a leading operator in the sports betting industry. In order to become approved to offer sports betting apps in Virginia, the leading operators had to go through one of three phases, namely, becoming licensed through the Virginia Department of Financial Services (VDFS), being an accredited gambling software provider in Virginia, or being a member of the National Association for State Taxation Offers (NASSO). NASSO is the largest tax association in Virginia.
The legality of online futures trading has become an issue in and of itself. The U.S. Department of Treasury is reviewing the lawfulness of the state’s ban on online sports betting. The main concern revolves around the fact that in the past, state law enforcement officials were pressured not to investigate individuals suspected of conducting online gambling operations from their homes. The new regulation would prevent such pressure from occurring. If the new futures law becomes law, all state law enforcement will be able to investigate any potential online gaming activity, no matter where it occurs.
Some people worry about how individuals will pay for sports betting transactions using a VA sportsbook. Most online bookmakers provide a service, not a fee. Most include fees for their advice and recommendations. Most also offer incentives for referrals, which could include a percentage of each deposit or withdrawal made. Individuals may pay through credit cards or electronic transfer funds and may avoid carrying cash by accepting bets via text messaging or online transfer services.