Virginia sports wagers down 31% in July

Virginia has legalized sports betting in January
Virginia has legalized sports betting in January

The Virginia Lottery saw $5.2m in wagers per day in July.

US.- Virginia’s sports betting volume in July was the lowest since sportsbooks first launched in January. According to data released by The Virginia Lottery, wagers fell 31 per cent month-on-month to $5.2m per day, down from 7.8m per day in July.

Eric Ramsey, analyst for the network, said: “July brings a relatively light sports schedule and summer vacations that typically make it the slowest month in sports betting, and Virginia is not immune from a trend that has affected every major market.

“The momentum should change quickly as football draws nearer and casual bettors return home. The next five months should bring significant growth to Virginia’s fledgling sports betting industry.”

Dann Stupp, lead analyst for PlayVirginia, said: “The most important months of the year are still ahead, and competition will help spur the entire market.”

Virginia was the quickest state in the US to reach $1bn in bets, four months after legalising sports betting. The fastest state to reach the $1bn mark previously was Tennessee, which hit $1bn in bets six months after launching sports betting.

See also: Virginia sports betting could generate $13bn in three years.

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