The Virginia Lottery has released its latest monthly revenue report revealing that the state’s licensed sportsbooks accepted over $426.5 million during the month of December.
The latest figure means that Virginia gamblers placed over $3.2 billion in wagers during 2021. This means that Virginia is the ninth state to top $3 billion in sports betting handle joining Colorado, Illinois, Indiana,, Michigan, New Jersey, Nevada, Pennsylvania, and Tennessee.
December saw sports betting activity increase by 5.93% on the previous month’s handle of $402.6 million. December’s figure fell just short of October’s record handle of $427.3 million.
Gamblers’ winnings for the month amounted to just over $395 million as operators reported a 7.39% win percentage, down from the 12.01% hold reported in November. This brings the total amount won by Virginian gamblers to $2.93 billion since sports betting launched in the state in late January 2021.
Bonuses and promotions for the month amounted to just over $17 million bringing the year total to $122 million. Meanwhile other deductions for the month came to $4.3 million. As a result, operators reported adjusted gross revenue (AGR) of $10.1 million for December. This means that AGR for the year came to $130.8 million.
Once again, only four operators reported a positive AGR for the month and paid $1.7 million in taxes to the state. Since the industry launched, operators have now paid $20.3 million in sports betting taxes.
December’s report included revenues reported by eleven licensed operators.
There are now 13 approved sports betting operators in the state:
- 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
- Golden Nugget Online Gaming VA LLC
- Twin River Management (Bally’s Corporation)
- WSI US, LLC
- Colonial Downs Group, LLC
- Digital Gaming Corporation VA, LLC
- VHL, VA LLC
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.