The Virginia Lottery has released its latest monthly revenue report revealing that the state’s licensed sports betting operators accepted over $401.8 million in wagers throughout the month of February.
February also saw more than $33.1 million wagered on the Super Bowl
The latest figures mark a drop of 17.23% ($83.7 million) compared to the previous month’s all-time record of $485.5 million.
However, when compared to February 2021, the industry’s second month of operation, the amount wagered grew by 51.22% from $265.7 million. February also saw more than $33.1 million wagered on the Super Bowl.
Payouts to winners for the month totaled $374.4 million giving operators a combined 6.84% win percentage. This was down significantly on January’s win percentage of 8.04%.
This brings the total amount won by Virginians to $3.75 billion since sports betting in Virginia launched in January 2021.
Bonuses and promotions for the month totaled $15.8 million down $1 million from the previous month while other deductions came to $3.7 million. This resulted in combined adjusted gross revenue (AGR) of $7.8 million, a drop of 57% on the previous month’s record-breaking $18.2 million in AGR.
Once again, only four operators reported a positive AGR for the month of February resulting in state taxes of $1.4 million. This brings the total amount paid to the state since the industry launched to $24.6 million.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.