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Virginia Delegate Marcus Simon (D-District 53) jumped on the Sports Betting bandwagon Tuesday when he pre-filed a Sports Betting hill ahead of the start of the general assembly session. The session began Wednesday, and Simon’s bill is now the third filed in the state, and the second on the House side. All three have been filed by Democrats.
Simon’s bill, the “Virginia Electronic Sports Betting Law” is a departure from the previous two filings in that it focuses solely on “electronic Sports Betting,” rather than calling for brick-and-mortar venues.
97% of revenue would go to problem gambling
Revenue derived by the state from Sports Betting would be allocated as follows: three percent to a newly created Sports Betting Operations Fund, which would be used cover the costs to the state of regulating Sports Betting, and 97 percent to the state’s Problem Gambling Treatment and Support Fund. Among states that have legalized Sports Betting or are hoping to, this bill would give vastly more money to treat problem gambling than any other.
Simon’s bill allows for mobile and internet Sports Betting throughout Virginia, and bettors would not be required to register for an account in person. From the text of the bill with regard to registering:
FULL STORY- SOURCE
Simon’s bill, the “Virginia Electronic Sports Betting Law” is a departure from the previous two filings in that it focuses solely on “electronic Sports Betting,” rather than calling for brick-and-mortar venues.
97% of revenue would go to problem gambling
Revenue derived by the state from Sports Betting would be allocated as follows: three percent to a newly created Sports Betting Operations Fund, which would be used cover the costs to the state of regulating Sports Betting, and 97 percent to the state’s Problem Gambling Treatment and Support Fund. Among states that have legalized Sports Betting or are hoping to, this bill would give vastly more money to treat problem gambling than any other.
Simon’s bill allows for mobile and internet Sports Betting throughout Virginia, and bettors would not be required to register for an account in person. From the text of the bill with regard to registering:
- Providing a verification form to be signed by the person and returned to the permit holder by postal mail, facsimile, or electronic scan;
- Requiring the person, in connection with a monetary transaction, to use a credit card, debit card, or other online payment system that provides notification of each discrete transaction to the primary account holder.
FULL STORY- SOURCE
