Virginia Sports Betting Laws: A Comprehensive Guide

Understand Virginia's sports betting laws, including legal sports, age requirements, licensing, and responsible gaming resources. Get the facts on VA sports wagering.

Quick Answer: Virginia Sports Betting Overview

Sports betting is legal in Virginia and operates primarily through online and mobile platforms. The state has no commercial casino sportsbooks. Wagering occurs via online and mobile platforms.

Legal status: Active and regulated since January 2021
Regulator: Virginia Lottery Board
Minimum age: 21 years old (Code of Virginia §58.1-4030)
Platform type: Online and mobile only for commercial operators
Key prohibition: No betting on Virginia-based college teams, including the University of Virginia, Virginia Tech, and all other in-state schools.
Tax rate on operators: 15% of adjusted gross revenue (Code of Virginia §58.1-4043)

If you are 21 or older, physically located in Virginia, and betting through a licensed operator, you are operating within the law.

Virginia's Legal Framework for Sports Betting

Virginia's sports betting market began with legislation passed in 2020. The General Assembly amended the Virginia Lottery Law under Code of Virginia, Title 58.1, Chapter 40. This authorized and defined sports betting as a regulated activity. The law took effect July

Legal Sportsbooks Operating in Virginia

DraftKings: online
FanDuel: online
BetMGM: online
Caesars: online
ESPN BET: online
BetRivers: online
Hard Rock Bet: online
Fanatics Sportsbook: online

Where you can bet: Online statewide. Virginia allows sports betting through licensed online sportsbooks. Where you cannot bet: Wagering is prohibited on in-state collegiate games and prop bets involving in-state college teams.

Note: In-state team prop bet restrictions apply.

What's NOT covered by sports betting law in Virginia

Daily fantasy sports (DFS): legal
Horse racing (pari-mutuel): legal
Online casinos (slots / table games): illegal
Poker (online): illegal; in-person: legal
State lottery: legal
Charitable gaming / bingo: legal / restricted

Each of these is governed by a separate statute — sports betting law does not control them.

Federal Tax Considerations

The federal tax implications for sports betting in Virginia involve reporting gambling winnings and losses, as well as specific excise taxes on wagers. Key provisions of the Internal Revenue Code (IRC) apply to both operators and bettors, notably IRC § 4401 regarding excise taxes on wagers.

Winnings of $600 or more, with a payout of 300 times the wager, require the issuance of a W-2G form by the operator (IRC § 3402(q)).
Gambling winnings must be reported on Schedule 1, line 8b of Form 1040.
Gambling losses can only be deducted up to the amount of gambling winnings and must be itemized on Schedule A (post-TCJA, this is only available if itemizing).
Federal excise tax on legal sports betting is 0.25% on the total handle, while illegal wagers incur a 2% tax (IRC § 4401).
Operators are responsible for paying the excise tax, not the bettors.

This is not tax advice — consult a CPA familiar with Sports betting for your specific situation.

Frequently Asked Questions

What is the minimum age to participate in sports betting in Virginia?

The minimum betting age in Virginia is 21 years old.

Can I place bets on Virginia college teams?

No, betting on Virginia-based college teams is strictly prohibited under state law.

Who regulates sports betting in Virginia?

The Virginia Lottery Board is responsible for regulating all licensed sports betting operators in the state.

What is the tax rate for sports betting operators in Virginia?

Sports betting operators in Virginia are taxed at a rate of 15% on their adjusted gross revenue.

When did sports betting become legal in Virginia?

Sports betting was legalized in Virginia in 2020 and began operating in January 2021.