Goodbye, Golden Nugget Sportsbook in Virginia. Hello, bet365 Sportsbook.
A few months after Golden Nugget quietly bowed out of Virginia’s market, the company behind bet365 received a temporary license in the state.
Virginia Lottery spokesman John Hagerty said the Aug. 15 license for Hillside (Virginia) LLC will earn full status once bet365 Virginia and its leadership team complete paperwork and a background check.
Regulators also have to test the bet365 VA app before the company can get a full license and take bets from customers.
Bet365 comes as Golden Nugget goes
Virginia online sportsbooks number 13 at the moment. The count peaked at 14 earlier this year, but DraftKings shut down Golden Nugget Virginia Sportsbook once DK finalized its acquisition of Golden Nugget Online Gaming.
DraftKings has a much larger share of the Virginia sports betting market. Golden Nugget Sportsbook Virginia debuted on Oct. 13, 2021. It stopped taking bets in early May because of the DK merger.
Technically, the state caps its sportsbook count “at no more than 12 permits,” according to Virginia code. Hagerty said the DraftKings-Golden Nugget merger does not free up space in the state’s sportsbook license limit, either. So, bet365 will be Virginia’s 15th sportsbook license.
“The next annual application period opens in May 2023,” Hagerty told PlayVirginia.
Virginia has exceptions that allow the state to max out at 19 sportsbooks.
- Washington D.C. pro sports franchises get two sportsbook permits if enough employees meet income tax thresholds in Virginia.
- FanDuel Sportsbook maintains a Virginia license in conjunction with the Washington Commanders. In fact, plans call for a retail FanDuel sportsbook lounge at FedEx Field.
- As of now, the second sportsbook license hasn’t been claimed by pro franchises in the Beltway.
- Five sportsbook licenses can go to applicants who operate or intend to operate a Virginia casino.
- Hard Rock Casino and Resort in Bristol uses the Hard Rock Virginia Sportsbook.
- Rivers Portsmouth Casino Resort uses BetRivers Virginia Sportsbook.
- Caesars Virginia Casino Resort in Danville has a partnership with the Caesars Sportsbook in Virginia.
- HeadWaters Resort & Casino in Norfolk doesn’t have a sportsbook partner yet.
- The proposed One Resort + Casino in Richmond needs voter approval in 2023. It can fold in a sportsbook brand as well.
Virginia Sportsbook history
| Sportsbook | Date of First Bet | |
|---|---|---|
| 1. | FanDuel | Jan. 20, 2021 |
| 2. | DraftKings | Jan. 24, 2021 |
| 3. | BetMGM | Jan. 27, 2021 |
| 4. | BetRivers | Jan. 27, 2021 |
| 5. | Caesars | Feb. 3, 2021 |
| 6. | WynnBet | March 9, 2021 |
| 7. | Unibet | April 28, 2021 |
| 8. | Barstool | Aug. 10, 2021 |
| 9. | Golden Nugget (no longer available) | Sept. 29, 2021 |
| 10. | Bally Bet | Nov. 24, 2021 |
| 11. | PointsBet | Dec. 12, 2021 |
| 12. | Hard Rock | March 31, 2022 |
| 13. | SI Sportsbook | May 9, 2022 |
| 14. | Betway | May 17, 2022 |
| 15. | bet365 | TBD |
Bet365 history
Bet365 Sportsbook is still fairly new in the US. It went live in New Jersey three years ago. The company reached an agreement in Colorado two years ago as well.
Its international ties date back 22 years, however. With annual sportsbook revenues of $4 billion, bet365 considers itself the “world’s largest online sports betting company.” Its markets include Great Britain, Denmark, Spain, Italy, Ireland, Sweden, Greece, Cyprus, Malta, Gibraltar and Australia.
The company’s roots are in Stoke-on-Trent, UK. Founder Denise Coates started developing the sports website with 12 employees in 2000. The team launched its sportsbook a year later.
The bet365 workforce has grown to 6,000 employees. They assist 80 million customers worldwide. As for online casino games, bet365 launched its games website in Curaçao in 2004.
Eight years later, the web-based sportsbook added its first mobile app.
