When you are in the process of becoming a bookie, you will learn about every gambling product that you can possibly offer in your sportsbook. This extends to betting products that are congruent to your traditional sports betting, like eSports betting or Daily Fantasy Sports. After all, these are all very exciting, and popular with bettors. Therefore, it could be profitable for you to know as much as you can, and offer these products to your players. And this is something that is under discussion in the state, as officials are looking at adding fantasy sports in Virginia.
If you want to learn more about fantasy sports, or DFS, you can check out this sports betting directory for more information. But generally, the sportsbook industry looks at Fantasy Sports as very profitable, and worth investing on. The Virginia Office of the Attorney General is looking into this, as the Republican House of Delegates member Wren Williams inquires if they consider fantasy sports as wagering.
Offering Fantasy Sports in Virginia is Still Under Discussion
When you read bookie tutorials, you get to understand the definition and nuances of sports betting and gambling. And you will easily see that laws on sports betting are sometimes very specific, but sometimes vague. When this happens, it provides room for further discussion on other gambling products, something we are seeing with the state now.
And according to Virginia Attorney General Jason Miyares, as defined by the state code, fantasy contests are considered as gambling. This is because these events require players to place a bet on an athletes’ statistics and performance, even if players are competing against each other.Sports betting has been legal in Virginia since 2021, so this is not a new conversation for them. And once this is clarified, they can easily apply to offer fantasy sports betting in their respective operations. When it does happen, it could contribute to an already blooming gambling market. In October alone, sportsbooks took in more than half a billion in sports betting handle, generating $56.3 million in adjusted gross revenue.