Virginia reported a year-on-year and month-on-month increase in sports betting revenue in August, while player spending on wagering was also higher in the state.
Adjusted gross revenue for the month amounted to $58.3 million, according to figures from the Virginia Lottery. This beat August 2024 by 66.6% and was 27.9% more than July of this year.
Breaking this down, $57.3 million came from online betting, while land-based wagering in Virginia generated a total of $938,895.
As for player spending, handle for the month reached $510.2 million. This surpassed the previous year by 22.4% and beat July by 18.8%.
Online wagering hit $506.3 million, while sports betting spend at retail sportsbooks across the state topped $3.9 million.
This resulted in an overall monthly hold of 11.43%.
Virginia bettors get $447.3 million back
The Virginia Lottery does not publish a full breakdown of betting operators that are active in the state. Some 14 mobile operators and three casinos were authorised to accept wagers in August.
However, the lottery did reveal certain other figures for the month. This included consumers having $447.3 million returned to them from sports betting, with all but $2.9 million of this coming from the online market.
Tax-wise, the state collected $8.7 million from wagering activities. Most of this ($8.5 million) went to the General Fund Allocation, while $216,956 was directed to the Problem Gambling Treatment and Support Fund Allocation.
State law places a 15% tax on sports betting activity based on each licence holder’s adjusted gross revenue.
Adjusted gross revenue from sports betting in Virginia last month was $58.3 million.