Virginia sports betting handle comes in at $266m in July

Tax from sports betting reached $3m.
Tax from sports betting reached $3m.

The figure is a decrease of 9.9 per cent from June but an increase of 64 per cent year-on-year.

US.- The Virginia Lottery has reported a sports betting handle of $239.9m for July, down 9.9 per cent compared to June but up 64 per cent from July 2021. The state-wide win percentage on wagers was 10 per cent, with Virginian bettors winning $239.9m in July. 

The 13 sports betting operators licensed in Virginia reported $21.4m in gross revenue. That is up from 8.8 per cent in June but lower than the 12.1 per cent hold reported in May. In July, Hard Rock Bristol launched its retail sports book at its temporary Casino.

Tax for July reached $3m, with $2.9m being allocated to Virginia’s General Fund, and $76,507 going to the state’s Problem Gambling Treatment and Support Fund. The state places a 15 per cent tax rate on all sports betting activity. Virginians have wagered about $5.9bn since sports gambling began in the state in January 2021.

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