Virginia reports sports betting decline for December 2024
Virginia’s sports betting market saw a decline in December, with adjusted gross revenue (AGR) dropping 23.4% year-on-year.According to the Virginia Lottery’s latest...
Virginia records strong sports betting revenue of $690M
In March, Virginia’s sports betting reached $690 million, an 8% increase compared to last year and a 24% increase compared to just the previous month.
The biggest contributors to this number are mobile and online betting. When it comes to in-person sportsbooks, they contributed only a small amount of $6.6 million. Even though it’s slightly more than last March, it is still less when compared to February’s results.
Players won back about $639 million. The Virginia Lottery also reported $5.6 million in “other deductions”, though they didn’t mention exactly what that includes.
Sports betting taxation for March
As for taxes, the state collected $6.8 million from all the betting activity. Nearly all of it ($6.6 million) went to Virginia’s General Fund, and just under $170,000 was set aside to support gambling addiction treatment and prevention programs.
In total, during March, 14 mobile betting platforms and three retail casinos were live, giving sports fans plenty of options to place their bets.
With spring sports heating up, Virginia expects to double March revenues, showing its dominance in the sports betting market across the region.
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