With the PointsBet Virginia launch, Virginians have one more option where they can place a legal sports bet.
The latest of the Virginia online sportsbooks made a quiet debut on Wednesday, Dec. 15.
The Virginia sports-betting market formally launched on Jan. 21 with FanDuel Sportsbook as first-to-market. Since then, many other mobile sports betting operators have made their debut in Old Dominion.
Now, with the PointsBet VA launch, Virginia has 11 operators in all.
A PointsBet Virginia launch with local ties
We knew the PointsBet Virginia launch was coming. We just weren’t sure when.
But it became a foregone conclusion last month. That’s when PointsBet VA announced it had teamed with Colonial Downs Group on the joint application for licensure.
Then, on Nov. 22, the Virginia Lottery formally approved them for a temporary sports betting permit.
With the PointsBet Virginia launch, the full list of Virginia sports betting operators now includes:
|Sportsbook||Permit approval date||Launch date|
|Caesars (formerly William Hill)||1/27/2021||2/2/2021|
|SI Sportsbook||11/25/2021||Q2 2022|
As you can see in the table above, two companies remain that have approval for VA sports betting. Betway and 888 (which is teamed with SI Sportsbook) received permits last month.
However, neither potential debutant has announced a launch date.
Teaming with Colonial Downs for Virginia access
The Virginia-based Colonial Downs Group owns the Colonial Downs racetrack in New Kent. It also owns Rosie’s Gaming Emporiums, gaming parlors and racebooks that offer slot-machine like historical horse racing (HHR) games.
PointsBet is an Australia-based company, but it’s active in some of the biggest US markets, including New Jersey and Illinois.
However, it’s struggled to keep up with the leading sportsbooks in those states. Through the first three quarters of 2021, for example, PointsBet’s share of the highly lucrative NJ market slipped by nearly half.
Part of those struggles can be attributed to PointsBet’s reluctance to spend marketing dollars like FanDuel, DraftKings and BetMGM do, according to CEO Sam Swanell.
With Colonial Down as a partner, the online operator now has some solid roots in Virginia.
But it faces an ulta-competitive market in Virginia.
A well-timed PointsBet Virginia launch
The PointsBet Virginia launch couldn’t come a moment too soon.
The popular football-betting season is winding down. However, PointsBet VA will still be able to capitalize on the upcoming NFL Playoffs in early January and Super Bowl in February. Both are massive betting events.
Ten competitors are already operational here, and more are on the way when Virginia casinos begin to open.
PointsBet has plenty going for it. It’s a fairly known name among sports-betting enthusiasts. It also has some popular player perks, including sign-up bonuses, daily odds boosts, regular promotions and even scaled “PointsBetting” payoff tables.
Time will tell if Virginia’s latest operator can make a dent in the competition.