Virginia sports betting handle grows to $284.7m in August

Virginia sports betting handle grows to $284.7m in August

Virginia’s sports betting handle was up 55.8 per cent year-on-year and 7 per cent from July.

US.- The Virginia Lottery has reported a sports betting handle of $284.7m for August, up 7 per cent compared to July’s $239.9m and also up 55.8 per cent from August 2021. The state-wide win percentage on wagers was 13 per cent.

The 14 sports betting operators licensed in Virginia reported $31.4m in adjusted gross revenue, a jump of $10m month-on-month, and also up by 260.9 per cent from $8.7m in August 2021. 

Consumers in Virginia won $247.7m from sports betting during the month, while $1.1m in bonuses and promotions were issued to players. In addition, the Virginia Lottery accounted for a further $4.24m in other deductions.

Tax for August reached $4.5m, with $4.4m being allocated to Virginia’s General Fund, and $111,853 going to the state’s Problem Gambling Treatment and Support Fund. The state has collected more than $22.7m in taxes in 2022, that’s more than double the $11.1m collected through the first eight months of last year.

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