DraftKings Launches in Virginia Under Temporary Sports Betting Permit

After BetMGM secured license in Virginia, DraftKing is the second sports betting brand to launch in the state.
The brand received a temporary sports betting permit. Thanks to it, Virginia becomes the twelfth state where DraftKing launches its mobile sportsbook app. The operator’s outgoing sportsbook technology provider Kambi received a supplier license in the state.

Co-founder and chief executive of DraftKings, Jason Robins expressed his excitement for having the opportunity to bring the operator in Virginia just in time for Super Bowl LV. According to his statement, the brand will bring a variety of betting options for sports fans.

He added: “With our customer-first approach, we hope to be the sportsbook of choice for Virginians who enjoy having skin in the game.”

Research on Customer’s Preferences

According to a research, based on customers preferences conducted by DraftKings, Virginia sports fans are most likely to bet on the National Football League (NFL), followed by the National Basketball Association (NBA) and then college football.

The researched showed also that the most favorite NFL teams for Virginia sports fans are The Washington Football team, which although is headquartered in the state, plays in Maryland, and the Dallas Cowboys.

When it came to NBA teams, Virginia sports fans prefer Los Angeles Lakers, Chicago Bulls and Washington Wizards before any other US team.

Virginia became the first US state to launch online sports betting in 2021, even before Michigan, after FanDuel became the first sports betting brand to secure temporary permit. DraftKings is the second brand.

Virginia and Michigan will be followed by other states where online gaming and sports betting is expected to launch in 2021.

As a way to compensate for financial losses caused by the coronavirus pandemic, Kentucky lawmakers announced making another attempt to legalize sports betting. Since many neighboring states had done so, it is only logical for Kentucky to follow them.

Another reason for the legalization is the fact that many gamblers can still go around the prohibition on wagering, which can lead to huge losses for the state.

The situation is similar in Georgia. According to a research, the illegal gaming is worth of $1.5 billion. The legalization will bring that cash to the legal market in the state.

According to a statement given by the Virginia Lottery, the FanDuel application received a “substantial and preferred consideration”, because of its partnership with the Washington Football Team.

BetMGM is the third brand to receive a permit after FanDuel and DraftKings. The three companies will be followed by MGM Resorts and Entain.

According to Virginia’s legislation, only 12 mobile brands are allowed to launch. They will have to pay a $250,000 fee for license permit. The tax rate has been set at 15% of gross revenue.

Source: “DraftKings launches in Virginia’s mobile betting market”, IGB North America, January 25, 2021

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Original source: https://www.casinonewsdaily.com/2021/01/27/draftkings-launches-in-virginia-under-temporary-sports-betting-permit/