Sports betting handle drops in Virginia
Virginia has seen the first month-on-month drop in its sports betting handle since its launch in January.
US.- Virginia’s sports betting handle amounted to $236.4m in April, down from $304m in March.
That makes April the first month to see a month-on-month decline in numbers since the sector’s launch in January. However, March saw particularly high figures due to the NCAA March Madness games.
Sportsbooks in the state earned $19.4m, considerably less than last month’s total of $26.6m.
Adjusted gross revenue reached$11.4m as the segment paid $1.7m in taxes and just over US$41,000 for problem gambling treatment.
The state’s cumulative handle to date since the launch of sports betting stands at nearly $900m.
Online gaming
Online gaming was also down in Virginia in April. It generated a $115m handle, down $8m from March. Revenue came in at $3.8m, down by $150,000 (4 per cent) from March. Igaming still brought in around $800,000 weekly, with two weeks bringing in more than $1m. The last week had the highest revenue at $1.1m.
BetMGM Casino WV led the way in revenue with over US$1.9m, while DraftKings Casino WV generated $1.7m. The latter had the highest handle at $60m, beating BetMGM by $8m.
