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Legislative license:Both houses of the Virginia General Assembly comfortably passed legislation to legalize sportsbetting earlier this year before reportedly tasking the Virginia Lottery Board with formulating a detailed set of rules to regulate how the growing industry is to be operated.Serious sanctions:This new franchise tax is to be applied to the higher of either a local iGaming operator’s monthly gross turnover or a pre-arranged revenue minimum.The four-member Virginia Lottery Board has reportedly approved a final series of regulations that could see the historic southern state launch legalized online sportsbetting as soon as early next year....
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