Potential Billions at Stake as Virginia Considers Legal Online Casinos

Virginia lawmakers are taking another look at the idea of making online casinos legal. These casinos, often referred to as iGaming, bring both money-making opportunities and regulations-related problems. 

Virginia Considers Legal Online Betting, Weighing Billions in Possible Gain 

The topic of iGaming in Virginia was front and center at an August 19 meeting. The group talking about it was the Joint Subcommittee. They are thinking about setting up the Virginia Gaming Commission. This new agency would watch over all gambling in the state.

People who want iGaming to be legal say Virginia is missing out on a lot of money. Marcus Simon, a Democrat from Fairfax, thinks legal iGaming could bring in more than $5 billion in taxable money over five years. He points out that a legal market could pull players away from offshore sites, reported WMRA Public Radio. These sites now run without anyone watching them. Simon also says legal sites would give people safer ways to play.

Simon’s draft proposal would need partnerships between licensed casinos and online operators, ensuring local accountability. Licensing fees and some tax revenue would pay for regulatory infrastructure and programs to address problem gambling. He further told his colleagues that people are already engaging in gambling, emphasizing that regulation would just direct existing demand into a controlled system.

Public health experts, though, called for caution. Keith Whyte from Safer Gambling Strategies pointed out that online gambling has higher addiction risks for young men. He mentioned New Jersey where similar platforms offer tools like deposit limits and personal dashboards to help players control their behavior. Mental health advisor Brianne Doura-Schawohl cautioned that making it legal could make gambling-related problems worse if safeguards are not the top priority.

Virginia Lawmakers Target 2026 for Gaming Commission Set Up

Experts in the industry shared different views. Dave Rebuck, who used to run New Jersey’s Division of Gaming Enforcement, said that legal online gambling worked well with brick-and-mortar casinos in his state, increasing overall income. On the other hand, people speaking for Virginia’s Moose Lodges worried that more gambling choices without better control could hurt charitable groups that have counted on fundraising games for many years.

Everyone agrees that a special regulatory group needs to exist before any growth can happen. The Virginia Lottery has been the temporary regulator since 2023, but lawmakers plan to set up the Virginia Gaming Commission by the 2026 session. This agency would keep an eye on all gambling activities, from casinos and sports betting to charitable gaming.

Virginia’s land-based casino industry remains new — three permanent venues have opened since 2022 and two more are under construction. The argument about iGaming will heat up in the next few months. Lawmakers intend to conduct more hearings before they finalize their advice for the upcoming legislative session. During this session, a formal bill to establish the commission and allow online casinos is likely to be a top concern.