In the just-released Virginia Lottery report, Virginia’s sports betting adjusted gross revenue (AGR) increased by 53.4% in June to $40.5 million (£31.8 million/€37.4 million), with wagering rising by 27.6%.
Nearly all of AGR ($40.2 million) came from online betting. Only $230,230 came from retail wagers at land-based casinos.
AGR is calculated by subtracting player bonuses, bonuses and promotions and certain other deductions from the player's total monthly wagering. In total, bettors won $370 million. Betr is now the only operator in Virginia that can claim promotional deductions. According to the report, $11,000 was deducted for promotions and bonuses.
Total bets from Virginia players totaled $415.4 million, up 27.6% from $325.5 million in June last year. Virginia mobile operators had a 10.95% hold rate. June was the third consecutive month that Virginia operators reported double-digit hold rates.
Online bets accounted for 99.4% of the total at $413 million, while $2.4 million was placed through the casino’s retail sportsbooks.
The lottery does not break down Virginia sports betting data by operator or sport. However, it did note that 10 of the state’s 14 licensed operators saw positive growth in June.
FanDuel, DraftKings, BetMGM, Rivers, Caesars and Penn Interactive are among the operators licensed in the state.
The state collected $6.2 million in tax revenue from sports betting. This is a 59% increase from the same period last year. Virginia imposes a 15% tax on AGR operators.
Virginia law requires that 97.5 percent of all taxes collected go into the state general fund. In June, that amount was $6.1 million. The remaining 2.5 percent goes to a problem gambling treatment and support fund.
