Tag: Virginia Lottery

Sports betting hold in Virginia reached 11.12% in February, its highest monthly percentage since September 2022, as the state reported year-on-year growth across both revenue and handle.

Players spent a total of $556.8 million (£430.9 million/€515.6 million) betting on sports in February. This surpassed the previous year by 2.2% but fell 24.4% short of January this year in Virginia.

Of this, $553 million was wagered online, while $3.8 million was bet at retail sportsbooks across the state. This is according to figures published yesterday (1 April) by the Virginia Lottery.

Players won $490 million from betting while some $4.9 million was accounted for in other, undisclosed deductions.

Revenue rises 39.1% in Virginia

As such, this resulted in adjusted gross revenue of $61.9 million. This beat February 2024 by 39.1% but was 23.6% less than January this year.

Online betting accounted for $61.7 million of all revenue, with retail’s contribution reaching just $206,590.

This left a tot..

Adjusted gross sports betting revenue in Virginia almost doubled month-on-month during January despite handle remaining level, while the state also reported year-on-year growth.

Revenue hit $81 million (£63.8 million/€77.3 million) in January. This beat December’s total by 84.5% and was also 20% ahead of the previous year, data published by the Virginia Lottery on 28 February shows.

Many states were impacted by customer-friendly sports results during December. However, markets normalised again in January, with revenue totals reflecting this trend.

Breaking down revenue performance, $80.2 million came from online betting. In contrast, just $830,102 was generated from retail wagering in Virginia.

Virginia handle up 12.8% YoY

As for handle, this amounted to $736.7 million in January. While only 1% more than the total for December, it exceeded the previous year by 12.8%.

Players in Virginia spent $730.5 million wagering online and a further $6.2 million at retail sportsbooks across t..

Virginia reported record adjusted sports betting gross revenue for the month of November, while handle in Old Dominion also reached an all-time high for the second consecutive month.

Data published this week by the Virginia Lottery shows gross revenue in November 2024 hit $80.6 million (£64.3 million/€77.7 million). This is 121.4% ahead of the same month in 2023 and 64.5% more than October 2024.

The total also surpassed the state’s existing adjusted gross revenue (AGR) record of $67.5 million – set in January 2024 – by 19.4%.

Almost all AGR came from online. During the month, some $79.9 million of all revenue was attributed to online betting, compared to $666,689 in retail revenue.

Player spending in Virginia up to $761.0 million

In terms of how much players spent on sports betting, the monthly handle for November across both online and land-based hit $761 million. This surpasses last year by 19.1%.

November also marks the first time Virginia has surpassed $700 million in betting..

Sports betting handle in Virginia hit a record $696.1 million (£549.3 million/€659.6 million) in October.

However a year-on-year decline in adjusted gross revenue suggests evidence of player-friendly results in the NFL hitting operators’ performance is emerging.

Handle for October was 21.8% higher than the $571.4 million wagered in Victoria during the same month last year. It also surpasses September’s $622.1 million handle by 11.9%, the Virginia Lottery reports.

The existing monthly record in Virginia was $652.9 million, which was set in January this year. October’s new record surpassed this by 6.6%.

Online betting accounted for $692.2 million of all sports wagering activity in October, with retail’s contribution at $3.9 million.

Hold reaches 7.04% in October

Adjusted gross revenue after player winnings came to $49.0 million. The total falls 13.1% short of October 2023 and 25.6% behind September’s $65.9 million.

Of that total $48.8 million in AGR came from online betting, wh..