Virginia reports sports betting decline for December 2024

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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 report, in December 2024, operators generated $43.9 million in AGR, a significant decline from $57.2 million in December 2022. Moreover, when compared to November 2024’s record-breaking $80.6 million, the number also represents a decline of 45.5%. All of December’s AGR came from online betting, as retail sportsbooks at casinos recorded a slight loss of $12,883.

Player activity

Despite changing the diagram in revenues, player activity remained strong. Bettors placed $734.4 million in wagers during the month. This is more than 16% when compared to the previous year. Of this, $729.5 million came from online betting, while $4.9 million was spent at retail locations. In total, players won $684.8 million.

Sports betting taxes

Despite the revenue decline Virginia still collected $6.6 million in taxes from sports betting. This was just more than half of November’s record $12.1 million. From the total tax revenue, $6.4 million went to the General Fund Allocation, while $164,958 was directed toward the Problem Gambling Treatment and Support Fund.

Individual operator performance

The Virginia Lottery does not release detailed information on individual operator performance, but December saw 13 mobile sportsbooks and three retail locations in operation. While the market faced revenue challenges, strong betting activity suggests continued interest from players.

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