The report also shows that state residents won $55,310,487, for a combined 6.08% win percentage.
Virginia Reports Sports Betting Handle of Over $58 Million for First 11 Days of OperationBetfair Interactive US, LLC operating as FanDuel and in partnership with the Washington Football Team launched its legal Virginia sportsbook operations on January 21st.
Crown Virginia Gaming, LLC operating as DraftKings, and BetMGM, LLC received their permits on January 24th. DraftKings launched immediately with BetMGM following a few days later.
Virginia Reports Sports Betting Handle of Over $58 Million for First 11 Days of Operation Virginia Reports Sports Betting Handle of Over $58 Million for First 11 Days of Operation, just before the Super Bowl. Virginia Reports Sports Betting Handle of Over $58 Million for First 11 Days of OperationThe Virginia Lottery lists the official revenue figures as follows:
January 21st – 31st, 2021
• Gross sports gaming revenues: $58,896,564
• Gross winnings: $55,310,487
• Bonuses and Promotions: $6,343,077
• Other deductions $478,612
• AGR (Adjusted Gross Revenue): $3,235,612
The initial expenses of launch and promotion resulted in negative AGR for three operators leading to minimal tax revenue.
The total tax generated for the state for the 11 day period was $39,710.31 of which $38,717.55 went to the state’s general fund and $992.76.
