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ARLINGTON, Va. - It’s been exactly one year since legal sports betting launched in Virginia.
With the NFL playoffs in full swing and the Super Bowl just a few weeks away – FOX 5 takes a look at how gambling is faring in the Commonwealth thus far.
"Virginia did a lot of things really well," said Dann Stupp, the content manager at PlayVirginia, where he covers gambling.
Stupp pointed to a recent Virginia Lottery gaming update, which showed nearly $3 billion dollars had been wagered in the Commonwealth through last November. The update also showed that FanDuel Sportsbook has captured about 42 percent of the market share, and pro basketball is the most popular sport to bet on so far – not the NFL.
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Virginia welcomes sports betting
The Virginia Lottery has issued the first sports betting license to FanDuel and the Washington Football team, who are partnering to accept the first legal bets in the Commonwealth beginning Thursday.
Sports betting up and running in Virginia
"The fact that they’ve hit $3 billion in wagers with a very competitive market with 11 sportsbooks," Stupp explained. "I think a lot of states are gonna be looking at Virginia as an example of how you can do sports betting the right way."
"Captain" Jack Andrews, a longtime professional bettor and one of the creators of Unabated.com, agreed.
"Virginia has actually done a very good job," Andrews said, adding that he’s waiting to see what happens to Virginia’s gambling market once Maryland starts taking bets online.
Andrews also said he thinks offerings will be expanded in time and sports leagues may begin to place restrictions on the number of gambling commercials that can air.
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"I think it’s gonna help make more sustainability towards the product if it’s not shoved in people’s faces so much," Andrews said.
One other thing to watch: Right now, Virginia gamblers can’t bet on in-state colleges. However, legislation that was recently introduced could change that.