Virginia Sports Betting Activity Increases by 12.7% for the Month of August

by David Burke - Monday, October 11th, 2021 9:21

Sports Betting Odds

The Virginia Lottery has released its latest monthly revenue report revealing that the state’s licensed sportsbooks accepted $182.4 million in wagers during the month of August.

The latest figure marks an increase of 12.7% from July’s sports betting handle of $161.9 million but is still someway short of the $234.9 million wagered during the month of June. August’s figure means that local sports fans have now wagered more than $1.48 billion since the industry launched in January 2021.

Gamblers in Virginia won a total of $171.3 million during the month giving the state’s sports betting operators a win percentage of 9.85%. Operators also reported bonuses and promotions of $6.8 million and other deductions of $2.4 million resulting in adjusted gross revenue (AGR) of $8.7 million.

This led to four operators reporting a net positive AGR for August resulting to state taxes of $1.4 million for the month, down slightly from the $1.9 million paid in the previous month. Since sports betting launched in late January, the state has now collected just over $11 million in taxes.

The report from the Virginia Lottery includes revenues reported by eight licensed operators including Betfair Interactive US LLC (FanDuel) in partnership with the Washington Football Team, Crown Virginia Gaming LLC (Draft Kings), BetMGM LLC, Rivers Portsmouth Gaming LLC (Rivers Casino Portsmouth), Caesars Virginia LLC, WSI US, LLC (Wynn), Unibet Interactive, Inc., and Penn Sports Interactive LLC.

David Burke

Reporter covering all aspects of sports, poker, regulation, iGaming business and more.