There are two enterprises in Virginia offering nearly the same thing, but only one has to pay hundreds of thousands of dollars in regulatory fees.
NORFOLK, Va. — There are two enterprises in Virginia offering nearly the same thing, but only one has to pay hundreds of thousands of dollars in regulatory fees.
Virginia became the first state in the country to legalize fantasy sports betting in 2016, and four years later, the Commonwealth legalized traditional sports betting.
But the two entities have operated under different umbrellas since then.
Traditional sports gambling is considered a game of luck, which means it has to abide by a number of legal guidelines in order to operate.
Fantasy sports betting, on the other hand, is federally recognized as a game of skill – therefore, it is not considered gambling, and it’s not bound by the same rules.
But sometime during the sports betting …