There aren’t any legal Virginia online casinos at the moment, but that might change very soon if Senate Bill 827 gets passed. The bill seeks to legalize online casinos, regulate the industry, and generate more revenue for the state.Could Senate Bill 827 Bring Online Casino to Virginia?
Historically, Virginia had strict gambling laws, but that has changed due to economic exigencies, the launch of online casinos in other states, and changes in public opinion. The bill is currently under review, and if passed, Virginia’s gambling industry could experience a huge level of growth that far exceeds that of its land-based counterparts.Could Senate Bill 827 Bring Online Casino to Virginia?
If Senate Bill 827 passes, the Virginia Lottery Board will regulate Virginia’s online casino industry. The Board would have the power to issue gaming licenses to Old Dominion’s four active casino operators: Caesars Virginia, Golden Eagle Corp, Hard Rock Bristol, and Rivers Casino Portsmouth. Armed with their licenses, each operator could have up to three legal Virginia online casinos.
However, casinos seeking a gaming license would be required to pay a $1 million application fee. Subsequent online casino revenue would incur a 15% tax levy, with 2.5% of that devoted to responsible gambling programs. The remaining taxes would then be pooled in the state’s general fund.
Unlike online casino bills in other US states, Virginia’s proposed bill includes live dealer games. In addition to regulating online casino gaming in the state, the Virginia Lottery will also regulate sports betting and physical casino activities. Keep an eye on this page for the latest legal online betting news for Virginia and you’ll be the first to know if Bill 827 gets passed.
Land-based casinos got the green light from Virginia lawmakers in 2019, and the sports betting industry got a significant boost when it was legalised in 2020. With these monumental changes in Virginia, it was only a matter of time before state legislation expanded to accommodate online casinos in Virginia.
Bill 827 stands a good chance of being passed for several reasons, including economic factors, the successful launch of online casinos in other US states, and changing societal paradigms and attitudes towards online gambling.
From an economic standpoint, the post-COVID-19 era saw the rise of online casinos despite reduced land-based casino patronage. This shift highlighted the importance of exploring other revenue streams. A regulated online casino industry offers Virginia huge economic potential through job creation and significant gambling revenue taxes.
Based on the potential economic opportunities online casino gaming offers, there has also been a sustained push by casino operators, industry advocates, and some local government officials for online casino legislation.
There has also been a change in public opinion about online casino gaming. The thrust of the discourse has moved towards responsible gambling initiatives. Most proponents of online casino gambling argue that tax generated from online casinos in Virginia can be used to fund initiatives designed to mitigate gambling addiction and responsible gambling.
Virginia’s casino industry is relatively young but is growing in leaps and bounds instead of taking baby steps.
Virginia’s casino industry is growing rapidly and could grow even faster when online casino gambling becomes legal. At the moment, the development of the land-based sector of the casino industry is laying a strong foundation for that to happen sooner rather than later.
Virginia’s online casino bill might be passed relatively quickly now, thanks to several factors, including its economic potential for the Old Dominion state, the successful launch of online casinos in other US states, and changing attitudes towards online gambling.
The sustained growth in the land-based and sports betting sectors of the Virginia gambling industry are also pointers to the potential expansion of the industry to accommodate online casino gambling in the near future.
