Sports Illustrated Sportsbook Set to Join the Virginia Betting Market
888 Holdings is preparing to enter the Virginia sports betting market.
On Tuesday, the company announced it had been granted a provisional sports betting license from the Virginia Lottery. This marks the ninth state 888 Holdings will hold licenses or market deals.
888 Holdings operates the Sports Illustrated Sportsbook, which debuted in Colorado in September. Virginia residents can expect to place bets on the Sports Illustrated book sometime in 2022.
“We are delighted to have been awarded our license by the Virginia Lottery,” Yaniv Sherman, SVP, Head of U.S. at 888 said in a media release. “This is an important milestone for 888 which enhances our foothold in the US online sports betting and iGaming market. There is a growing sports betting fanbase in the state and I firmly believe that SI Sportsbook, supported by our partners at Sports Illustrated, will offer a unique and differentiated experience to our customers which will be well-received."
The sports betting industry has continued to develop in Virginia. According to figures from the Virginia Lottery, over $1.95 billion has been bet on sports up to this point. The state took in $294 million in bets during September, thanks to NFL betting and college football betting.
Virginia’s handle numbers will likely continue to grow with the NBA and NHL regular seasons, in addition to college basketball starting in November.
Bally Bet Also Entering Virginia
Virginia has been active in granting licenses and launching new online sportsbooks. On Monday, Bally Bet officially went live in time for Thanksgiving Day betting, making it the 10th sportsbook to begin accepting bets in the state.
Virginia is the third state for Bally Bet. It also is also live in Colorado and Iowa and has plans to launch in Indiana, according to its website. New users on Bally Bet are eligible for a $100 free bet sign-up bonus, in addition to a risk-free bet worth up to $550.
At the end of an October meeting, the Virginia Lottery announced more sportsbooks would launch in the coming months. PointsBet and Digital Gaming Corporation each had their temporary permits approved on Nov. 22 and Nov. 24, meaning those sportsbooks could launch soon.
PointsBet Sportsbook gained market access through a deal with the Colonial Downs Group, which is approved as a permit holder. Virginia gambling law allows for at least 18 online sports wagering licenses.
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