Virginia reports $426.6m in sports bets for December

Virginia sportsbooks took in $3.2bn in wagers in their first year of operation.
Virginia sportsbooks took in $3.2bn in wagers in their first year of operation.

Virginia sportsbooks reported $31.5m in gross revenue from $426.6m in wagers for the last month of 2021.

US.- Virginia sportsbooks saw nearly $31.5m on more than $426m in wagers in December. According to official data released by the Virginia Lottery, the last month of 2021 was the third consecutive month with a handle of over $400m in handle. The state saw $3.2bn in wagers for 2021 as a whole.

December’s handle marked an increase of 6 per cent compared to November’s $402.6m. Players betted $13.8m per day, up from $13.4m per day in November.

Despite the higher handle, December’s sports betting gross revenue was only $31.5m, a decrease from November’s $50m. Sportsbooks generated $10.1m in taxable revenue, which yielded $1.7m in state taxes, after $17.1m in promotional spending.

Virginia’s online sports betting market debuted on January 21. Sports betting adjusted gross revenue for 2021 was $130.9m, while sports betting taxes were $20.3m.

Eric Ramsey, an analyst for PlayUSA Network, said: “As impressive as the first year of sports betting has been, Virginia’s market has not come close to maturity.

“Virginians are still getting comfortable with legal sports betting in its many forms, and operators will continue to look for ways to expand their base. 2021 was just the beginning.”

In the first year, ten online sportsbooks launched in Virginia: FanDuel Sportsbook, DraftKings Sportsbook, BetRivers Sportsbook, Caesars Sportsbook, WynnBET, Unibet, PointsBet Sportsbook, Golden Nugget, Barstool Sportsbook and BetMGM Sportsbook.

See also: Virginia sportsbooks report nearly $50m in November

In this article:
virginia lottery virginia sports betting