The Virginia sports betting market is starting to take shape. Online sports betting launched last Thursday. FanDuel was the first book to go live, and more books have made debuts in the state since. BetMGM made Virginia sports betting news this week. The book will go live in the “Old Dominion” state on Wednesday.
BetMGM Background
BetMGM has made headway in the United States’ legal sports betting market. They are owned and operated by MGM Resorts International and known for lavish gambling resorts and casinos worldwide.
The BetMGM app was the company’s attempt to be a part of the country’s legal sports betting economy.
BetMGM has a casino feature as well as a sportsbook. This has created some complaints from sports betting users. BetMGM is a dual app, but the casino feature seemed to garner more attention when it came to the embedded technology. Recently, MGM has committed to improving the sportsbook side of the BetMGM app.
This is positive news for bettors in Virginia. BetMGM just had successful launches in Tennessee, Pennsylvania, and Michigan. The Virginia launch should follow the same successful trajectory.
BetMGM was one of four sportsbooks that debuted in Tennessee on sports betting’s opening day, November 1, 2020. BetMGM received more new player sign-ups in Tennessee than ever before, which was positive news for MGM Resorts International. The complete numbers aren’t in from Michigan just yet. However, there was a lot of excitement surrounding BetMGM in the state when online wagering began on January 22, 2021.
Virginia will be the eighth state where BetMGM is available. The other states are Colorado, Indiana, Nevada, New Jersey, Tennessee, West Virginia, and Michigan.
Recent Approval in the Commonwealth
Sports betting in Virginia just launched last Thursday, so the market is still growing. Virginia wants to offer a competitive sports betting market in the south and mid-Atlantic. The state is surrounded by some large sports betting markets, so it’s believed that countless big-name sportsbooks will be allowed to operate in Virginia.
DraftKings launched in Virginia on Sunday before the NFL’s conference championship games. BetMGM received the approval to launch on Sunday with DraftKings. Yet, BetMGM wasn’t ready to optimize a launch on the same day that the platform was approved like DraftKings.
The Virginia Market
Virginia law states that twelve mobile platforms can operate in the state. FanDuel, DraftKings, and BetMGM were the first three books to be approved in Virginia. DraftKings and FanDuel are a step above the competition in nearly every category.
The DFS histories of these two books make them well known throughout the United States. Virginia looks like a promising market, and sportsbook providers have taken notice.
The state has received 25 applications for 12 spots thus far. This overwhelming number caused the Virginia legislature to develop a bill to allow more licenses in the state. The earliest this would go into effect would be July 1.
It’s believed that Virginia will have more sportsbooks than just FanDuel, DraftKings, and BetMGM running in the state by Super Bowl Sunday, where the Kansas City Chiefs will take on the Tampa Bay Buccaneers.
