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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>77288</law_id><section_number>58.1-4045</section_number><catch_line>Liquidity pools</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="58.1">Taxation</unit><unit label="subtitle" level="2" order_by="1" identifier="IV">Other Sources of State Revenue</unit><unit label="chapter" level="3" order_by="1" identifier="40">Virginia Lottery Law; Sports Betting</unit><unit label="article" level="4" order_by="1" identifier="2">Sports Betting</unit></structure><text>
						<section><p>The <span class="dictionary">Board</span> may promulgate rules authorizing <span class="dictionary">permit holders</span> to offset loss and manage risk, directly or with a third <span class="dictionary">party</span> approved by the <span class="dictionary">Director</span>, through the use of a liquidity pool in Virginia or another <span class="dictionary">jurisdiction</span> so long as such <span class="dictionary">permit holder</span>, or an affiliate of such <span class="dictionary">permit holder</span>, is licensed by such <span class="dictionary">jurisdiction</span> to operate a <span class="dictionary">sports betting</span> business. However, a <span class="dictionary">permit holder</span>&#x2019;s use of a liquidity pool shall not eliminate its duty to ensure that it has sufficient funds available to pay bettors.</p></section></text><history>2020, cc. 1218, 1256.</history><metadata></metadata></law>
