The latest monthly revenue report from the Virginia Lottery has revealed that local sports betting operators took in just over $511.6 million in wagers throughout the month of March.
The latest figures mark an increase of 17.9% on the $503 million reported during the previous month and a 9% increase year-on-year.
Virginia gamblers won a total of $456.3 million resulting in a combined operators’ win percentage of 10.8%, down slightly from the previous month. This brings the total won by gamblers to just over $8 billion since since the launch of sports betting in Virginia in January 2021.
Bonuses and promotions for the month totaled $3.8 million while other deductions also came to $3.8 million. This resulted in combined adjusted gross revenue (AGR) of $47.6 million. This represented a 68.2% increase on February’s AGR figure.
Of the 16 approved Virginia sports betting operators, ten reported a positive AGR for the month of March. This resulted in state taxes of $7.4 million, a jump of 57.4% from the previous month.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.