Virginia sports betting handle reaches $325m in June
Bets were up by 10 per cent year-on-year.
US.- Virginia’s sports betting handle was $325.4m in June, according to the Virginia Lottery. That’s a rise of 10 per cent compared to June 2022 but a 19.4 per cent decrease compared to the $403.7m reported in May 2023.
Mobile operators took in $322m, down 19.5 per cent from May. Retail sportsbooks saw a handle of $3.3m. Virginia’s bettors won $292.7m, making a 10 per cent hold. The state’s online and retail sports betting operators were left with adjusted gross revenue (AGR) of $26.4m, down 37.9 per cent from May ($42.5m) and up 103.6 per cent from June 2022 ($12.9m).
The state took in $3.9m in taxes for June, down 37.3 per cent compared to the previous month, but up 110.5 per cent year-on-year. The state directs 97.5 per cent to the state’s General Fund and 2.5 per cent to the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services.
See also: Virginia casino workers push to end indoor smoking
Casinos in Virginia
Gaming revenue from the Virginia casinos totalled $52.1m in June, a new record for the state and $7m over May’s $45.5m. Hard Rock Hotel & Casino Temporary Bristol, Rivers Casino Portsmouth and Caesars Danville combined for $9.5m in taxes paid to the state.
Commercial casinos only opened in Virginia last year. There are three venues: the permanent Rivers Casino Portsmouth and two temporary casinos, Hard Rock Bristol and Caesars Danville. There are expected to be at least five Virginia casinos in operation within the next couple of years.
