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A political tug-of-war might be all the stands in the way of Virginia sports betting passing the legislature this session.
The two sides agreed to a conference committee but there’s not much time left. Virginia’s legislative session ends Saturday. Sen. Jeremy McPike, the sponsor of SB 384, said he thinks the votes are there to get sports betting passed this year.
There’s no official schedule but the committee has likely already met to discuss the bills.
McPike and Del. Mark Sickles, the sponsor of HB 896, are naturally on the committee.
Joining McPike from the Senate is Monty Mason and Todd Pillion. Marcus Simon and Will Morefield represent the House with Sickles.
Simon also penned a sports betting bill this year that was eventually worked into HB 896. It, unfortunately, included a ban on in-state college betting which made its way into HB 896.
But the study also maintains college betting tends to make up the majority of wagers in states without professional sports. Legalizing sports betting without the ability to bet on the University of Virginia or Virginia Tech in March Madness would miss the point.
McPike acknowledged betting on college sports already happens in Virginia, adding it’s better to get it out into the open.
Aside from the in-state college ban, the House bill would also ban all live betting completely on college sports.
As for potential operators, the Senate wants at least six and as many as 10 licenses. The House is calling for at least four to as many as 12 licenses.
The House wants a 20% revenue tax while the Senate wants a 15% revenue tax.
While the bills are mainly mobile-only, a professional sports team would be allowed to open a physical sportsbook in the state. Most speculation suggests that team would be the Washington Redskins, as owner Daniel Snyder plays Virginia and Maryland against each other as a future home of the team.
Who those teams might be depends on the chamber. The Senate limited those professional teams to the MLB, NBA, NFL and NHL while the House would allow any professional team.