Virginia Lottery releases November 2024 sports wagering report
Players in the state wagered more than $760m during the month.
US.- The Virginia Lottery has published its report on sports betting activity submitted by licensed operators for November 2024.
From November 1 to November 30, 2024, Virginians placed bets totalling $760,965,450, marking a 19.1% increase compared to November of the previous year. During this period, 13 mobile operators and three casinos accepted wagers from bettors in the state.
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Virginia bettors collectively won $674,614,210, resulting in an overall operator win percentage of 11.35%. State law imposes a 15% tax on sports betting activity, calculated on each permit holder’s adjusted gross revenue (AGR), which is defined as total wagers minus total winnings and other authorised deductions.
Ten operators reported positive net AGR for November, generating $12.1 million in tax revenue for the month.
Regarding the state tax on sports betting AGR, the law mandates that 97.5% of the revenue be allocated to the state’s General Fund, while 2.5% goes into the Problem Gambling Treatment and Support Fund which is managed by the Virginia Department of Behavioral Health and Developmental Services.
