Following the decision from the United States in September 2019 to make sports gambling legal, many states have gone through their legal process to make it available to their citizens. Virginia became the first state in the Washington D.C. metropolitan area to legalize sports gambling by passing it through on July 1st, 2020. 36 out of the 50 states have now officially made sports betting legal.
The Virginia Lottery is the regulatory authority that is responsible for overseeing sports betting in the state. This varies from state to state as well as what sportsbooks and wagers are available.
Sportsbooks available in Virginia
- DraftKings
- FanDuel
- BetMGM
- Caesars
- BetRivers
- Bet365
- Betway
- Unibet
- WynnBET
- PointsBet
- Barstool Sportsbook
- Betfred
- Hard Rock
- Bally Bet
- SI Sportsbook
How to bet in Virginia:
Moneyline Bets:
Per VA Betting the most common and basic form of sports betting is based around the moneyline. This is simply based on which team will win the game. The team with negative odds (ex/ -175) is considered the favorite while the team with positive odds (ex/ +125) are the underdog. In this scenario no point totals or any other factors impact the result, only which team wins the game.
Spread Bets:
The point spread is a handicap created by bookmakers with the intention of getting an even number of bets on each side of the line. For wagers on the favorite to cash, they must win by the set number of points. For example, if the spread is set at 7.5 points, the favorite must win by eight or more points for the bet to cash. The underdog must either lose by seven points or fewer or they can outright win for the spread bet to cash. When betting on the CFL, it’s important to consider that scheduling may differ from the NFL.
Totals Bets:
Bets on the totals are not impacted by the game’s result. This is dependent on the combined scores of both the teams at the game’s conclusion. If the over/under is set at 50 points and the two teams combine for more than this, then the over will cash. If the combined total of the two teams does not reach this number, then the under will cash.
Prop Bets:
In addition to the more traditional wagers, prop bets have grown in popularity in a major way. These are the most diverse forms of betting where you can wager on individual player and team props on a game-by-game basis. This includes which player will score a touchdown, the over/under for passing, receiving, or rushing, yards, as well as head-to-head props. There seem to be more emerging props on a weekly basis and the odds/availability vary greatly depending on the sportsbook.
Futures:
While most think of singular games when discussing sports wagers, there is great value in futures bets. This includes which team will win the championship, which player will win MVP, and several other season-long wagers. Futures bets have a much larger payout but also are more difficult to predict based on how much time and how many variables go into the result.
Regardless of which type of wager you choose to place, it is important to make informed decisions. There are plenty of resources available to steer you toward making the right decision and being informed ahead of time.
