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VA Lottery reviewing 25 betting license applications


The Virginia Lottery Board has revealed that it received 25 applications for the 12 mobile betting licenses that may be issued in the state.

Though the Lottery did not disclose the identity of operators that put forward submissions, said the 25 applications were received between October 15 and 31.

A bill passed earlier this year states the Lottery must issue a minimum of four and maximum of 12 of the new licenses.

The 12-permit cap does not apply to applications tied to certain major league sports franchises headquartered in or play at a facility located in Virginia. However, it does cover applications from casino gaming partners previously selected by the cities of Bristol, Danville, Norfolk, and Portsmouth.

The Lottery will consider a number of factor when reviewing the applications, including their past experience and success with sports betting in the US, their efforts to solicit minority investors and the number of new jobs and tax revenue they expect to generate in Virginia.

“The high level of interest by national and international sports betting operators validates Virginia’s efforts to strike an appropriate and responsible balance in its regulatory program for legalized sports betting,” Virginia Lottery executive director Kevin Hall said.

“We are confident that the deliberative review process we are undergoing now will result in a successful program that protects consumers, athletes, and taxpayers.”

The application process launched last month after the Lottery in September signed off on laws to cover the new sports betting market.

Aside from the minimum and maximum license requirements, other measures include a $50,000 fee to secure a license, while approved operators will have to pay a 15% tax on adjusted sports betting gross revenue.

Licensed operators will also be required to use proven identity and geo-location technology to verify online customers are 21 and physically located in Virginia so that they can place bets legally.