Democrats gained control of the General Assembly this past election cycle and quickly pushed through a bill that will legalize sports betting.
Legislators also passed a bill green lighting casinos in five cities.
Governor Ralph Northan, a Democrat, must now sign the bills into law for it to go into effect.
Virginia could have sports betting by the end of 2020.
The bill earned bipartisan support in both chambers but took some compromising, as legislators ruled against betting on Virginia college sports teams.
Voters will cast a referendum on whether to build casinos in Bristol, Danville, Richmond, Norfolk and Portsmouth.
Bristol is home to a NASCAR track, while Richmond and Norfolk are two of the five biggest cities in the state.
While no professional sports teams compete in Virginia, bettors in the northern part of the state will be keen to wager on games played across the Potomac River.
No casinos are planned to be built in northern Virginia.
The state will give out a maximum 12 sports betting licenses not including casinos at a price of $250,000.