The latest monthly revenue report from the Virginia Lottery has revealed that local sportsbooks accepted just over $518.8 million in wagers throughout the month of November.
The latest figures mark a drop of 1.7% on the $528 million reported during the previous month and a 29% increase year-on-year. However, the report notes that 13 sportsbooks were active during the reporting period compared to just nine in 2021.
Virginia sports fans won a total of $461.28 million resulting in a combined operators’ win percentage of 11.09%, up slightly from the previous month but still short of the highest win percentage recorded — 13.01% which was reported in September of 2022. This brings the total won by gamblers to just over $6.4 billion since since the launch of sports betting in Virginia in January 2021.
Bonuses and promotions for the month totaled $817,857 while other deductions came to $3.8 million. This resulted in combined adjusted gross revenue (AGR) of $52.8 million, a 16% increase on the $45.5 million reported in the previous month.
Eight sports betting operators reported a positive AGR for the month of November. This resulted in state taxes of $7.8 million, an increase of almost $1 million month-on-month.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.