Saturday, June 3 2023

Betfred USA has continued its aggressive US expansion with the launch of online operations in the state of Virginia, as the official sports betting partner of Loudoun United FC. 

What does the partnership entail?

The partnership not only facilitates Betfred’s Virginia online sports betting launch, but will also see the brand take prominent advertising inventory. Betfred will be the back-of-jersey sponsor for both the home and away kits for the 2023 USL Championship season. 

“We are excited to finally begin online operations in the Commonwealth of Virginia and look forward to activating our partnership with Loudoun United,” said Bryan Bennett, COO of Betfred USA Sports. “This is the ideal time to launch sports betting with several major sporting events happening over the coming weeks and months, and of course with the USL Championship season kicking off soon.”

“We’re excited to introduce the Red-and-White Community to our sports betting partner, Betfred,” said Doug Raftery, Loudoun United FC Executive Business Officer. “You can expect to see a prominent presence from Betfred at home games and various online club channels. We look forward to a fantastic 2023 season and helping to scale our business together.”

Betfred USA is currently licensed in Iowa, Pennsylvania, Colorado, Louisiana, Arizona, Washington, Maryland, Virginia, Ohio and Nevada. Virginia is the 9th state that Betfred have gone live in, having recently started operating the Virgin Casino retail sportsbook in Nevada. 

What’s the legal status of all gambling in Virginia?

Currently, online sports betting is the only legal online gambling in VA, other than subscriptions for iLottery. The state legalized sports betting in April 2020, as well as authorizing up to five land-based commercial casino-resorts in five specific VA cities. 

Online sports betting in Virginia is taxed at 15% of GGR, with the deductions allowed for tax purposes currently undergoing rigorous debate in the House. Currently Virginia’s OTBs and racetrack can offer electronic gaming devices (based on the outcome of historical horse races). 

The state of Virginia allows for up to 19 sports betting licensees, and when the retail venues open up, a separate bill signed by Gov. Northam will allow them to run in-person retail sports wagering through tellers or kiosks. 

With commercial casinos coming to Virginia soon, it may not be long before VA online casino gets going too.

Source: Basketball Insider


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