                                 CODE OF VIRGINIA

POWERS AND DUTIES OF THE DIRECTOR RELATED TO SPORTS BETTING; REPORTING (§
58.1-4031)

A. The Department shall operate a sports betting program under the direction of
the Director, who shall allow applicants to apply for permits to engage in
sports betting operations in the Commonwealth. The Board shall regulate such
operations. The Department shall not operate a sports betting platform or a
sports betting facility.

B. The Director may:

   1. Require bond or other surety satisfactory to the Director from permit
   holders in such amount as provided in the rules and regulations of the Board
   adopted under this article;

   2. Suspend, revoke, or refuse to renew any permit issued pursuant to this
   article or the rules and regulations adopted under this article; and

   3. Enter into contracts for the operation of the sports betting program, and
   enter into contracts with other states related to sports betting, provided
   that a contract awarded or entered into by the Director shall not be assigned
   by the holder thereof except by specific approval of the Director.

C. The Director shall:

   1. Certify monthly to the State Comptroller and the Board a full and complete
   statement of sports betting revenues and expenses for the previous month;

   2. Report monthly to the Governor, the Secretary of Finance, and the Chairmen
   of the Senate Committee on Finance and Appropriations, House Committee on
   Finance, and House Committee on Appropriations the total sports betting
   revenues and expenses for the previous month and make an annual report, which
   shall include a full and complete statement of sports betting revenues and
   expenses, to the Governor and the General Assembly, including recommendations
   for changes in this article as the Director and Board deem prudent; and

   3. Report immediately to the Governor and the General Assembly any matters
   that require immediate changes in the laws of the Commonwealth in order to
   prevent abuses and evasions of this article or the rules and regulations
   adopted under this article or to rectify undesirable conditions in connection
   with the administration or operation of the sports betting program.

D. In accordance with sports betting program regulations, the Director shall
approve methods for sports bettors to fund sports betting accounts, including
automated clearing house payments, credit cards, debit cards, wire transfers,
and any other method that the Board determines is appropriate for sports
betting.

HISTORY: 2020, cc. 1218, 1256; 2021, Sp. Sess. I, cc. 351, 352.