Virginia Sports Betting Revenue Tracker and Market Insights

We’ll be keeping track of monthly Virginia sports betting financial reports. Here’s what each number represents: 1. Handlerefers to the total amount wagered on sports. 2. Revenue reflects the gross gaming revenue kept by sportsbooks after paying out winning bets. 3. Hold percentageshows how much revenue … See more

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Virginia Wagering Operators Hold 11.5% On High Revenue, Handle

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Nov 4, 2024 · According to the Virginia Lottery report released on Friday (1 November), operators paid out $550.2 million in wins and had a combined hold of 11.5%. That was the third highest …

igamingbusiness.com

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Virginia Wagering Operators Have Standout May - IGB

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Jul 1, 2024 · The state netted $8.1m in tax revenue, including $202,184 that was directed to problem and responsible gaming funding. By law, 2.5% of tax revenue is earmarked for …

igamingbusiness.com

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Virginians Gambled $633 Million On Sports In December, Up …

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Feb 2, 2024 · Despite a slight monthly drop in betting handle, Virginia’s December revenue total represents an impressive 57.30% month-over-month increase from VA’s November 2023 …

playusa.com

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Virginia Sportsbooks Top $50 Million For Fourth Straight Month

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Feb 1, 2023 · Virginia sportsbooks ring out 2022 with again more than $500 million in monthly betting handle and better than $50 million in gross revenue.

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Virginia Sets New Record With Over $1B In Gross Sports Wagering …

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Jul 6, 2023 · Overall, Virginia’s sports betting industry has witnessed significant growth in 2023. Handle and gross revenue for May showed substantial year-over-year increases, and the …

gamblingnews.com

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Virginia Sets Sports Betting Revenue, Handle Records In November

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3 days ago · This was, by some distance, the most tax Virginia has ever generated from sports betting in a single month. The previous monthly high was $9.9 million in January 2024. Virginia …

igamingbusiness.com

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Virginia Generates $49M In October Sports Betting Revenue

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Nov 28, 2024 · Virginia Generates $49M in October Sports Betting Revenue The hold was down from 11.5% in September. Handle rose 11.9% month-on-month, while revenue fell 25.6% from …

covers.com

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Virginia Sportsbooks Produce September Revenue Boost

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Nov 3, 2024 · Retail sportsbooks also felt a significant jolt, as the handle rose 94% compared to the previous month for Virginia sports betting. Gross revenue went from $415,000 in August to …

covers.com

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Virginians Bet Almost $761M On Sports In Nov. 2024

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3 days ago · Listen to this article Virginians bet more than $760.96 million on sports in November 2024, 19.1% more than they bet in November 2023, according to Virginia Lottery data …

virginiabusiness.com

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Virginia Achieves Record Sports Betting Revenue In November 2024

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2 days ago · With a gross income of $80.6 million (£64.3 million/€77.7 million) in November 2024, Virginia’s sports betting sector reached unprecedented heights. This outstanding …

igaming.org

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Exclusive: FanDuel Has Dominated Virginia Sports Betting Market

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Jul 21, 2021 · Nationally, FanDuel’s sports betting market share is approximately 36% against DraftKings’ 25%, according to Gambling Compliance. Comparatively, the action in Virginia so …

sportshandle.com

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Virginia Handle Hits Record High $760M In November - Covers.com

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2 days ago · November 2024 Online Retail; Sports betting handle $756.7 million : $4.2 million : Adjusted gross revenue $79.9 million : $666,000

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Virginia Sports Betting Revenue Hits Milestone With May Gains

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Virginia sports betting posted annual handle gains in May.Bettors spent $403.7 million, a nearly 15% increase over the $351.4 million bet in May 2022.. Sportsbooks also saw an annual …

legalsportsreport.com

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Virginia Sets Sports Betting Revenue Record With $48M For …

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Dec 30, 2021 · The Virginia Lottery reported sports betting operator revenue of more than $48.3 million for November on Thursday, setting an all-time record since launch and furthering the …

sportshandle.com

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Global Sports Betting Revenue Statistics - Market Trends

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The European online sports betting market is also booming and is a major player in the global gaming industry. It’s expected to reach $17.14 billion in 2024, and with a compound annual …

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Sports Betting Tax Revenue: States, Sportsbooks, And Consumers

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Dec 10, 2024 · Key Findings. Legal sports betting in the U.S. hit an all-time high in 2023 at more than $100 billion wagered. States collected more than $1.8 billion in taxA tax is a mandatory …

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Virginia Clears $3 Billion Handle In First Year Of Sports Wagering

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Feb 1, 2022 · The Virginia Lottery completed its first full year of sports wagering by surpassing $3 billion in handle, according to figures released Tuesday for the month of December.. The state …

sportshandle.com

FAQs about Virginia Sports Betting Revenue Tracker and Market Insights Coupon?

How much money will sports betting generate by 2024?

According to arecent report from Statista, the sports betting industry is on track to generate $14.30 billion in revenue by 2024. This figure represents record growth in both gross and total sports betting revenue, highlighting the increasing popularity of gaming and the expansion of legal sports betting markets. ...

Why has sports betting revenue soared?

Sports betting revenue has surged due to the legalization of sports betting in additional states, the rise of online betting platforms, and the robust sports culture in the U.S. Seasonal events like the Super Bowl and March Madness, among other drivers, further contribute to spikes in sports betting revenue. ...

How does regulated sports betting help the economy?

Taxes on gaming revenue from sportsbooks significantly benefit state and local governments. This money is often allocated to government budgets, public infrastructure, education, and healthcare programs. States with high sports betting revenue, like New York and New Jersey, show that regulated sports betting can boost the economy. ...

How much money does sports betting make in Nevada?

Brick-and-mortar sportsbooks still drive a portion of the sports betting revenue, especially in Nevada. There, the betting handle remains tied to in-person wagering. In August 2024, land-based gaming rose 3.3% year-over-year to $4.22 billion. This includes revenue from casino slots, table games, and retail sports betting. (AGA, 2024) ...

How big is the online sports betting market?

Revenue in the online sports betting market is expected to reach $45.43 billion in 2024, with a projected annual growth rate (CAGR 2024-2029) of 7.47%, resulting in a market volume of $65.14 billion by 2029. The European online sports betting market is also booming and is a major player in the global gaming industry. ...

Should sports betting be taxed based on net gaming revenue?

Low-rate taxes based on net gaming revenue make an effective tax design. Consumers legally wagered more than $100 billion on sporting contests in 2023, creating more than $1.8 billion in state revenue. Sports betting is now legal in 38 states and the District of Columbia, and the landscape is rapidly evolving. ...