Virginians bet a record $ 427million on the sport in October


Betting income up 45% from September

Posted

December 2, 2021




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Catherine schulte


Virginians bet $ 427 million in October, a new monthly record, according to data released Wednesday by the Virginia Lottery.

Virginia sports bettors won $ 397 million that month, the lottery said. Virginia has recorded $ 2.4 billion in wagers since the state legalized sports betting in mid-January, as well as $ 206 million in gross gambling revenue, including $ 90.8 million in taxable income . The state collected $ 14.4 million in taxes at the end of October, according to PlayVirginia.com

In September, the state raised $ 293.85 million, making October’s revenue an increase of 45.4%. Virginia Lottery attributed the increase in activity to the five full weekends of the NFL and College Football month.

The nine licensed operators included in the October report were Betfair Interactive US LLC (FanDuel) in partnership with the Washington football team; Crown Virginia Gaming LLC (Draft Kings); BetMGM LLC; Rivers Portsmouth Gaming LLC (Rivers Casino Portsmouth); Caesars Virginia LLC (William Hill); WSI US LLC (Wynn); Unibet Interactif Inc .; Penn Sports Interactive LLC; and Golden Nugget Online Gaming VA LLC, first included in September.

Colonial Downs Group LLC, Digital Gaming Corp. Virginia LLC and VHL VA LLC are three newly licensed operators, which received temporary permits in November. Bally’s Corp. received a temporary permit on March 15 and is now online. A new sports betting license was granted on November 30 to 888, an online gaming and betting company, which has partnered with Sports Illustrated and Virginia Beach-based Virtual Entertainment Partners LLC. SI Sportsbook is slated to launch in Virginia next year, according to an 888 press release.

The state imposed a 15% tax on sports betting activities based on the adjusted gross income of each licensee. With three operators reporting net positive adjusted gross revenues, the monthly taxes for October total $ 1.7 million.