Virginia Lottery; repeal prohibition against sale of lottery tickets over the Internet; sports betting; Problem Gambling Treatment and Support Fund; Major Research Project Subfund; Sports Betting Operations Fund; penalties.
Directs the Virginia Lottery (the Lottery) to regulate sports betting. Before administering a sports betting operation, an entity is required to apply for a three-year permit and pay an application fee of $250,000. Permit holders must apply for renewal of a permit every three years, which includes a renewal fee
of $200,000. The Director may issue up to 10 permits at one time but is directed to issue an amount of permits that would maximize tax revenue collected pursuant to the bill.