Virginia sports betting handle reaches $505.6m in May

Virginia sports betting handle reaches $505.6m in May

The sports betting handle was up 25 per cent year-on-year.

US.- Virginia’s sports betting handle was $505.9m in May, up 25.2 per cent compared to May 2023 but 10 per cent behind April of this year. Mobile wagers reached $501.3m, while bettors wagered $4.2m at retail locations. May’s total is the lowest in 2024 so far.

Eleven of the state’s 15 licensed operators reported net positive AGR for May, leading to $8.1m in tax payments for the month. More than $7.8m went to the state’s general fund. According to the report by the Virginia Lottery, bettors in the state won $445.6m.

See also: Virginia registers $62.7m in casino gaming revenue for May

Through the first five months of the year, Virginians wagered more than $3.55bn on sports. Of the state tax on sports betting AGR, the statute specifies 97.5 per cent is to be deposited in the state’s General Fund and 2.5 per cent is to be deposited into the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services.

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