The latest monthly revenue report from the Virginia Lottery has revealed that the state’s sports betting operators reported accepting $402.6 million in wagers during the month of November.
This marks a 5.7% drop in sports betting activity from the previous month when operators reported a record handle of over $427.3 million thanks to a busy October schedule of NFL and college football.
Gamblers in the state won $354.2 million throughout the month giving operators a combined win percentage of 12.01% up from the previous month’s hold of 7.06%. The latest figure brings the total amount won by Virginians since January to $2.54 billion from $2.8 billion in wagers since since the launch of sports betting in January of 2021.
Operators dished out bonuses and promotions totaling $14.9 million during the month while other deductions came to $3.4 million. This resulted in adjusted gross revenue (AGR) of $29.9 million, a significant increase on the $9.8 million reported in October.
Just four of the state’s ten licensed operators posted a positive AGR for the month of November. This resulted in state taxes of $4.2 million setting a new record as the most profitable month for the state since sports betting launched.
November’s report included revenues reported by ten 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, Golden Nugget Online Gaming VA, LLC, and Twin River Management (Bally’s Corporation).
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.