Virginia: July's Sports Betting, Handle hit 11-month Low
Highlights
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Virginia Sports betting revenue and handle both fell to an 11-month low, recording figures of $45.6 million and $429.3 million in July.
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Virginia players received back $379.8 million from winning bets and $3.19 in undisclosed other deductions.
Virginia sports betting revenue and handle dip to an 11-month Low in July, still managing year-on-year growth with a 12.9% increase on the same month of the previous year.
As per data, the adjusted gross revenue from sports betting totaled $45.6 million in July. It is a decline of 20.1 % in June, registering the lowest monthly total since August 2024.
Retail betters contribute around $522,452 from $45.1 million. On the other hand, Virginia’s handle drops to $29.3 million, a rise of 13.7% from the same month last year. This suggests another decline of 10.2% from June and is again the lowest since August 2024.
Online wagers have amounted to $427.2 427.2million, while retail betters contribute only $2.1 million. As per reports from the Virginia Lottery, players redeemed $379.8 million from winning bets and $3.19 disclosed in other deductions. Overall tax revenue from sports betting was $6.8 million.
As per data, the adjusted gross revenue from sports betting totaled $45.6 million in July. It is a decline of 20.1 % in June, registering the lowest monthly total since August 2024.
Retail betters contribute around $522,452 from $45.1 million. On the other hand, Virginia’s handle drops to $29.3 million, a rise of 13.7% from the same month last year. This suggests another decline of 10.2% from June and is again the lowest since August 2024.
Online wagers have amounted to $427.2 427.2million, while retail betters contribute only $2.1 million. As per reports from the Virginia Lottery, players redeemed $379.8 million from winning bets and $3.19 disclosed in other deductions. Overall tax revenue from sports betting was $6.8 million.