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Can you summarize 58.1 VACV Chapter 40?
Virginia Lottery Law; Sports Betting
Short Summary
This legal document pertains to the Virginia Lottery Law and Sports Betting. It defines various terms used in the article and provides exclusions for certain activities such as charitable gaming, lottery games, horse racing, and fantasy contests. The document applies to permit holders, sports bettors, covered persons, sports governing bodies, and sports teams. It specifies penalties for violations related to making premises available for placing sports bets using the Internet and advertising premises for such purposes. Additionally, the document outlines the requirements for sports betting to be initiated and received within Virginia unless otherwise permitted by federal law. It also governs the use of official league data for determining the results of tier 1 and tier 2 bets on professional sports events. The document outlines the duties and responsibilities of permit holders operating sports betting operations in Virginia, including measures to ensure that only individuals physically located in Virginia can place bets, protection of confidential information, prevention of prohibited betting activities, and compliance with advertising regulations. It also addresses permit transfer, branding restrictions, cooperative marketing limitations, and the use of personal biometric data. The document prohibits betting on certain sports events such as youth sports, proposition bets on college sports, and bets on Virginia college sports. It outlines the prohibition of certain individuals from engaging in sports betting, including the Director, Board members, officers, and employees of the Department, permit holders and their directors, officers, owners, employees, and relatives living in the same household. The document also addresses the allocation of tax revenue collected from sports betting, the tax rate on a permit holder’s adjusted gross revenue, and the penalties for accepting or redeeming sports bets from individuals under the age of 21. It outlines the requirements and procedures for obtaining a sports betting permit, including background investigations and financial security. The document also outlines the powers and duties of the Director in relation to sports betting operations in the Commonwealth, including the operation of a sports betting program and reporting requirements.
Whom does it apply to?
Permit holders, sports bettors, covered persons, sports governing bodies, sports teams
What does it govern?
Virginia Lottery Law, Sports Betting
What are exemptions?
Charitable gaming, lottery games, horse racing, fantasy contests
What are the Penalties?
Penalties for violations related to making premises available for placing sports bets using the Internet and advertising premises for such purposes
Jurisdiction
Virginia