\n
The Virginia Lottery oversees the licensing of sportsbooks. If you wish to ensure that a bookmaker has the correct license, that\u2019s the name to look for.<\/p>\n <\/div>\n <\/div>\n <\/li>\n <\/ul>\n <\/div>\n<\/div>\n\n
\n And of course, legislative updates are an ongoing process. In 2022 another bill suggested amendments to fees, taxes and how sports wagering might be advertised in Virginia. One change which may impact readers directly is the potential of loosening the rules for betting on Virginia college teams.<\/p>\n\n
\n Otherwise, the key facts as outlined above appear to be staying the same for now.<\/p>\n\n
Sports Betting Revenue and Taxation in Virginia<\/h2>\n \n\n \n The proposed changes in the law regarding sports betting taxation relates to how the businesses are taxed, not the individual. For instance, there\u2019s a proposal that sports betting revenue will be taxed at a rate of 15%, which doesn\u2019t affect how you bet or your finances.<\/p>\n\n
\n The situation regarding an individual\u2019s tax on sports betting revenue looks to stay the same. Firstly, gambling is subject to a federal rate tax of 24%<\/strong> beyond a specific threshold. For sports betting in Virginia that threshold is $600 for sports gambling and daily fantasy sports provided the pay-out was at least 300 times the wagering amount<\/strong>.<\/p>\n\n\n So really not as bad as it may initially read when you just look at the numbers. The state specific tax rate depends on your income, and is broken down into the following:<\/p>\n\n
\n
Income<\/th> Tax Rate<\/th><\/tr><\/thead> Less than $3000<\/td> 2%<\/td><\/tr> Between $3,001 and $5000<\/td> 3% plus $60<\/td><\/tr> Between $5,001 and $17,000<\/td> 5% plus $120<\/td><\/tr> More than $17,000<\/td> 5.72% plus $720<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n\n Do note that you only need to pay the percentage above the minimum amount in that income bracket<\/strong>. So, for instance, you\u2019ll only pay 3% of excess over $3000 on the amount earned between $3,001 and $5000. You can claim and report these winnings via a W-2 G form from your sports betting operator and can claim your total gambling winnings on Form 1040.<\/p>\n\nBest Sports Betting Apps in Virginia<\/h2>\n \n\n \n The legislative updates also allows for mobile betting<\/strong>. So, all that Virginia sports betting gaming goodness needn\u2019t be shackled to a home computer if you prefer online betting on the go.<\/p>\n\n\n The top bookmakers must have been working overtime because many of them already have fantastic mobile betting apps on both iOS and Android. Many of which are so polished they look like they\u2019ve been fine-tuned over many years.<\/p>\n\n
\n With such incredibly high standards, which provide the most compelling portable sports betting experience?<\/p>\n\n
\n We\u2019re sure most sports betting fans will be pleased to walk around Virginia\u2019s sun kissed streets with the following top tier sportsbooks in their pocket:<\/p>\n\n
\n
\n
\n
FanDuel<\/p>\n <\/div>\n
\n We don\u2019t think there\u2019s any operator more naturally suited to the small screen. FanDuel looks fantastic on mobile<\/strong>, their structure and aesthetic perfectly suited to the switch. This means everything works as effortlessly, perhaps even more so, as their browser counterpart. Plus, the fun of fantasy betting so suits the casual nature of mobile online betting<\/strong>, as does the ability to adjust and keep up to date on the go.Their sportsbook, too, continues to exceed expectations via mobile app. We\u2019ve noticed no loss of features nor markets here, and considering the rate at which their library is growing, that\u2019s no small achievement.<\/p><\/div>\n <\/div>\n <\/div>\n\n\n\n
\n
\n
BetMGM<\/p>\n <\/div>\n
\n Not only do we think BetMGM have crafted one of the best sports betting apps in Virginia, but it seems most people agree according to the exceptional high ratings<\/strong> found on the Google Play and Apple App Store.And it\u2019s little surprise, not only do they take all of things that make BetMGM great and move them flawlessly to mobile, but their interactive design efforts allow for an even more intuitive experience<\/strong>.Reliable, easy on the eyes and a joy to use, BetMGM provide a near ideal mobile sportsbook for popular American sports leagues. Better still they are one of the most consistently updating and improving apps we\u2019ve come across, meaning you can expect even more excellence and interesting features in the future.<\/p><\/div>\n <\/div>\n <\/div>\n\n\n\n
\n
\n
Draft Kings<\/p>\n <\/div>\n
\n The only alternative sports betting app in Virginia that can match BetMGM in terms of public acclaim is Draft Kings, which (although this has the potential to change) currently sits at a near unbeatable 4.8 out of 5 rating<\/strong> on both major app stores.We think the success of the app, for all its fine attributes, can be boiled down to one key reason<\/strong>. It takes everything great about the desktop version of the site, the fantasy betting, the thousands of sportsbook markets, all those fabulous promotions and parlay bets and puts them on the small screen without missing a thing<\/strong>. There is no compromise here. If anything the design of the app might be even better than the already excellent browser option. So good it\u2019ll have you wondering how so much could fit on a single solitary app.<\/p><\/div>\n <\/div>\n <\/div>\n\n\n\n Bonus offers are like the cherry on top of a delicious betting experience. At their best they can provide fun and real money value. However, not all promotions are created equal meaning it\u2019s important to only invest in the finest bonus offers out there<\/strong>. But with so many options, where do you start? We\u2019d say the following represent some of the most generous promotions for Virginia sports betting.<\/p>\n\n\n
\n
BetMGM goes big with a first bet offer worth up to $1000<\/strong> in free bets if your first bet doesn\u2019t win. You can think of this as being given a second chance to win your first bet, large enough to be suitable for high rollers and casual players alike. It\u2019s one of our favorite kinds of bonus, one which provides benefits for playing as normal<\/strong>. Simple register, download the app, deposit your funds and place your bets as usual. Then reap the rewards. A very similar promotion is also offered by FanDuel.<\/p>\n <\/div>\n <\/div>\n\n\n\n It's not just welcome bonuses from FanDuel. They are offering even more promotional goodness if you refer a friend<\/strong>. Send them the invite link and when they make a bet ($10 or more within 30 days of signup<\/em>) you\u2019ll both receive $50<\/strong> within 72 hours.<\/p>\n\n\n Draft Kings had several promotions worthy of being discussed here. This includes same game NBA parlays, refer a friend and their own huge up to $1000 deposit bonus. But none go further to exemplify the sheer generosity of what they provide than the new customer promotions which offer the chance to win $150 in bonus bets for a mere $5<\/strong>. All you need to do is make a deposit of 5 bucks or more into your sportsbook account and place a wager. If your bet wins, you\u2019ll receive $150 alongside your winnings as six $25 bonus bets. You\u2019ve got a week to use each.<\/p>\n\n\n There\u2019s a few things which make this promotion so special. First off, the low minimum bet means it\u2019s accessible for everyone. Plus, you\u2019re rewarded for winning<\/strong> as opposed to refund based promotions. This is a winning mindset promotion. And all that is backed up by fair terms and conditions.<\/p>\n\nPopular Types of Bets<\/h2>\n \n\n \n Since the legislative updates took effect, there have been thousands of betting markets<\/strong> available every day in Virginia. And this variety is of course part of the strength of Virginia sports betting.<\/p>\n\n\n That said, can feel a little overwhelming for newcomers. To help, we\u2019ve picked a few especially popular types of bets for gambling in Virginia, so you can get a taste of what\u2019s out there.<\/p>\n\n
\n
\n
\n
Moneyline<\/p>\n <\/div>\n
\n While there\u2019s a myriad of interesting and quirky Virginia sports betting markets, the moneyline will remain one of the most popular for its simplicity and the excitement it offers. This is betting on the outcome of a sporting event. In other words, who you think will win<\/strong>. Elegant and perfect in its simplicity.<\/p><\/div>\n <\/div>\n <\/div>\n\n\n