Sporttrade Secures Sports Betting License in Virginia, Plans Launch for October
Sporttrade has gained licensing approval in Virginia, marking its fifth state entry. Although the announcement comes just ahead of the NFL season kickoff, the company does not plan to launch in the Commonwealth until October.
Virginia’s Sports Betting Market Provides Growth Opportunity
This move positions Sporttrade to tap into Virginia’s bustling sports betting market, especially as the Washington Commanders face a challenging schedule next month.
Virginia, which introduced online sports betting in 2021, ranked ninth in the nation for sports betting handle in June 2024, recording $415.4 million in wagers.
Second-Mover Advantage Amid Market Consolidation
Sporttrade is entering Virginia at a time when several mid-sized operators, including WynnBET and Unibet, have pulled out of the market.
This gives Sporttrade a second-mover advantage, offering the potential to attract customers from these closed platforms.
Sporttrade’s competitive pricing model, with lower fees compared to industry giants, could help lure bettors from larger sportsbooks, told the company’s CEO, Alex Kane, to Action Network, which first reported the story.
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