The Virginia Lottery has released its latest monthly revenue report revealing that the state’s licensed sports betting operators accepted $427.3 million in wagers throughout the month of October.
The latest figures mark a 45% increase from September’s handle and is a new all-time record for the most amount wagered in Virginia in a single month. According to the report this is likely due to an increase in NFL and college football betting activity across five full weekend schedules of games in October.
Virginia gamblers won a record $397.1 million throughout the month as operators reported a combined win percentage of 7.06%, down from the 10.53% recorded in the previous month. This brings the total amount won by Virginia gamblers to just under $2.2 billion from $2.4 billion in wagers since sports betting launched in January.
Operators reported bonuses and promotions of $15.8 million and other deductions of $4.5 million during the month. This resulted in adjusted gross revenue (AGR) of just under $9.8 million, down slightly from the $10.3 million reported in September.
Only three of the state’s nine licensed operators posted a new positive AGR for the month of October yielding the state taxes of $1.7 million. This was a slight increase on the $1.5 million paid in September. Since its January launch, the state has now collected $14.4 million in taxes.
October’s report includes revenues reported by nine 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., Penn Sports Interactive LLC and Golden Nugget Online Gaming VA, LLC.
Newly licensed operator 888 Holdings has yet to launch its Virginia sports betting app.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.
