UPDATE: Virginia Lottery Board places draft sports betting rules up for public comment

The Virginia Lottery Board has adopted its draft regulations for sports betting that will now be under public review.

Once those standards are approved businesses will be vying for one of the 18 potential permits to operate and take bets on sporting events with the exception of games involving college teams based in Virginia.

The majority of those will be allotted to companies wanting to base their operations online while five of those can be based in casino parlors if those businesses are approved by referendum vote in November.

State residents have until Sept. 9 to submit their comments on the plan. The board is scheduled to formally vote on sports betting rules on Sept. 15.

(PHOTO: Unsplash)