The latest monthly revenue report from the Virginia Lottery has revealed that the state’s licensed sports betting operators reported that Virginians wagered $161.9 million during the month of July. This marks a 31% drop on June’s sports betting handle of $234.9 million.
Gamblers in the state won a total of $141.9 million giving the state’s operators a combined win percentage of 12.33%. This means that since sports betting launched in January, Virginians have won a total of $1.36 billion from wagers totaling $1.48 billion.
Virginia Sports Betting Activity Drops by 31% for the Month of JulyPromotions and bonuses amounted to $4.4 million while other deductions totaled $2.9 million resulting in combined adjusted gross revenue (AGR) of $12.69 million. This brings the year-to-date AGR of all operators to $62 million.
Virginia places a 15% tax on a sports betting operator’s AGR. Taxes collected for the month of July totaled $1.9 million bringing the state’s earnings from sports betting taxes to $9.7 million since the industry launched in January 2021.
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