Sports betting is making its way to the state of Virginia. FanDuel is the first sportsbook to launch in Virginia, opening its digital doors to bettors on January 21, 2021.
The Virginia lottery will be organizing and overseeing the ongoing sports betting movement. They have made plans to issue somewhere between four to 12 licenses for online sports betting businesses at some point soon.
With the legislation in progress, there have been a few stipulations. Most betting options will be available, including a lot of college sports.
However, any sports bets on Virginia college teams that are in an event will not be allowed. Other rules include no sports betting on youth sports and no in-game or proposition bets on any college sports.
While Virginia is still in the process of issuing licenses to various online VA sports betting businesses, there are a handful of excellent sportsbooks that might enter the market. Each one will have its own features and unique advantages over one another.
Entering the market will actually be somewhat fair to the sportsbooks financially speaking. They will have to pay $250,000 for three years in addition to a favorable tax rate of 15 percent.
DraftKings has one of the sleekest sports betting apps you could ask for and is arguably a fan favorite for the mobile sports betting movement. They have many attractive betting opportunities, even though Virginia will look to cut down on a few options. When it comes to signing up, DraftKings typically has attractive bonuses and ongoing promotions to keep customers interested. It has other opportunities to boost bets, provide daily contests, parlay insurance, and so much more.
DraftKings is very mobile-friendly, and even if it becomes somewhat overwhelming to you, you can easily place wagers on the desktop version. It tried to have the most appealing odds out there and be one of the first to present their odds to customers. You do not have to worry about the quality of customer service or the number of payment options. DraftKings has you covered on both of those, which is a relief compared to some other sportsbooks out there.
FanDuel was one of the first names to hit the sports betting scene in the US, is leading the charge in Virginia. They are the first sportsbook to market, launching on January 21, 2021 in Virginia. In some cases, it is arguably better than DraftKings in what they can provide to customers, but it all boils down to preferences. You do not have to worry about signing up and going through a lengthy procedure to get started with your sports betting experience. Once you are approved, you are good to go with a quick and easy setup.
FanDuel typically provides some of the most attractive bonuses and promotions to their customers. Although it generally does not throw a lot at you, the opportunities will still be there. You will find no issues with the navigation and design of their app. The only drawback it has had in the past was trying to contact support through it. Now, it appears that they have taken steps to fix this issue.
BetMGM is going to hit it off with newer sports bettors right off the bat, simply because they usually have a very attractive first-time offer. Once it attracts these customers, it should be set for life because it provides an excellent sports betting experience.
Although the app is not super attractive like FanDuel or DraftKings, it is still high quality and gets the job done. Sometimes it could be easier just to use the desktop. The overall process of cashing out or making deposits is a breeze. It provides more than a handful of payment methods, so you do not have to worry about sacrificing your favorite one.
It has a handful of betting options and usually has some attractive lines. When it comes to being the first to provide those lines, it is sometimes a step behind to offer a great opportunity to be competitive.
As the name somewhat gives away, FOX Bet is owned partially by the same FOX Corporation that showcases televised sporting events all over the US. In May of 2019, they recently struck a deal with The Stars Group to launch FOX Bet, so it is relatively new to the market.
Even though it is newer, it has an excellent opportunity to attract many first-time and existing customers in the market. It offers very appealing sign up bonuses, risk-free bets, and more than a handful of daily boosts and betting opportunities.
You can find that the mobile app is in high competition with the likes of FanDuel and DraftKings for its sleek design and compatibility. Everything functions the way it should, as you should have no issues finding what you need. Registering and cashing out is a simple process for both. Customers were in mind when it came to both of those features.
Caesars is a name you cannot ignore. It offers one of the most significant betting experiences in Las Vegas, Nevada. It also had sights set on Virginia.
It is in an interesting situation right now with the sports betting market. One of the world’s largest casino brands just partnered up with William Hill, a brand that is arguably one of the top sportsbooks out there. As for now, they both have excellent interfaces for sports betting and a loyal brand following. They both have exceptional apps, attractive bonuses, and a name that you can trust.
It provides just as many sports betting opportunities as the market allows. It also has top-notch customer service and even quick how-to guides to solve any quick issues. It will no doubt be a name to watch as 2021 rolls around. With this partnership, who knows what it can do to this market.
BetRivers is another sportsbook that offers attractive first-time bonuses and wagering options. Indeed, new customers will enjoy the perks of placing their bets or making a deposit and getting lucrative bonuses.
It has all the major sports you can bet on and some you did not even think about. It does not provide as many variations like daily contests or boosts, like DraftKings or FanDuel, but that is okay since it makes up for it in bonuses. It carries a lot of the same household names when it comes to payment methods. So you can easily find the option you want and cash out in a timely manner.
The app itself is a little lacking when you look at the design and features. However, it is still highly functional and allows you to make your bets, so there are no concerns.
For a long time, bettors had to place wagers online to offshore sportsbooks because online gambling in the U.S was illegal. These are sportsbooks that are not in the U.S. and are based in another location such as Panama, Curacao, and Antigua.
Although it is difficult to narrow down current bad offshore sportsbooks, what you should do is run a sportsbook through a series of checks to see if it is good or not. First, you should check where it is located and what license it may or may not hold. A lack of a license is a bad sign of things to come. Although offshore books do not protect you completely with a license, it is bad news from the start if they do not have one at all.
If you see customer reviews of payment delays or voiding bonuses for no reason, then you should avoid them. Having a very limited amount of deposit options is another sign, especially with lesser-known or shady options in general.
If the site has a high minimum to withdraw or makes you pay to cash out, then that is a no go. Also, look out for the “too good to be true” type of bonuses. These will only take your money and generally have no way of getting it back.
There are a handful of signs that give away if a site is legal or offshore. First, the site should reveal where it is based or like a badge of authority from a gaming division in the U.S.
A registered address is another sign of a legal U.S sportsbook. So if the address is outside of the U.S, then it is an offshore book. If it does not have a legal license, which you can research, then it is illegal.
When selecting your sportsbook of choice, you should keep in mind that no two sportsbooks will be the same. There is nothing that says you cannot have more than one sportsbook, but just one account, of course, at each one that you choose. If you are new to sports betting, you should probably stick to one, for now, so you do not overwhelm yourself.
MyBookie was established in 2014 and is licensed in Costa Rica. It has not been around very long, but they are an excellent opportunity for US sports bettors unable to place online sports bets in their state.
It accepts bettors from 47 states, where applicable, but are banned in New York, New Jersey, and Nevada. It is legal and safe to use, but of course, always do your research to make sure.
Once the licenses have been handed out to the sportsbooks that have applied for them, you can most likely see FanDuel here. It would be crazy not to enter the market, as Virginia has one of the most promising sports betting environments out there.
Sportsbooks will be required to send out applicable tax forms to sports bettors who meet the reporting threshold for income from sports betting. So basically, yes, they have to report everything to the IRS if you meet a certain threshold. Double-check the Virginia lottery website for more information on the betting threshold and income from that.
Withdrawing your earnings could take some time, depending on a variety of factors. First, it depends on if it is your first time cashing out. Some sportsbooks might make you wait a holding period to cash out. They do this to double-check your identity or to make sure all your information is correct.
Secondly, it can depend on what type of payment methods you choose. For example, if a check in the mail is an option, it could take over a week for that payment to get approved and sent out to you. If it is something like PayPal, then payouts can be approved very quickly and sent over to your account within a day or sooner.