LIS

Virginia Law

Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 11. Gaming
Agency 5. Virginia Lottery Board
Chapter 70. Sports Betting
12/3/2024

11VAC5-70-60. Principal applications.

A. An applicant for a principal license who is associated with a sports betting permit applicant shall submit the principal application together with the permit application.

B. A principal who will be employed in a managerial capacity for a sports betting platform on behalf of a permit holder:

1. Shall submit the application separately from the application for the sports betting permit; and

2. May submit the application together with a supplier license application.

C. The application for a principal shall be made using the electronic form required by the department.

D. For an applicant who is a citizen of any country other than the United States, the background investigation shall require an international criminal history records check.

E. The application for each principal license shall be accompanied by a wire transfer of $50,000, $1,000 of which shall be considered an application/license fee, with the remainder constituting a nonrefundable initial deposit toward the department's administrative costs to conduct the background investigation of the applicant.

F. The term of a principal license shall be three years from the date of issuance.

G. At least 60 days before the end of the term of a principal license, a principal shall submit a:

1. Renewal application using the electronic form required by the department; and

2. Nonrefundable wire transfer of $50,000 as an application/license fee and background investigation fee.

Statutory Authority

§§ 58.1-4007, 58.1-4015.1, and 58.1-4030 through 58.1-4047 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 37, Issue 4, eff. October 12, 2020.

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.