Virginians wagered $399.5 million in April, a year-over-year increase of 69 percent from April 2021, according to data released by the Virginia Lottery today.
But it was also the first month under $400 million wagered in Virginia since September.
“There was enough general interest in the NBA Playoffs, the Final Four, and the first month of baseball, among other attractions, to engage bettors in April,” said Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayVirginia.com. “Those opportunities will shrink in the coming months, until football season kicks off. But Virginia’s young market is well-positioned for another surge this fall.”
Through the end of April, bettors in the Commonwealth have wagered a combined total of more nearly $5 billion on a wide variety of approved sporting events.
During the month of April, 12 licensed operators were active and accepting mobile sports wagers. A complete list of all approved operators can be found here, under the “approvals” tab.
“Without football or a big betting event like the first weekend of the NCAA Tournament, sportsbooks traditionally lose steam heading into the summer,” Ramsey said. “But the year-over-year gains remain consistently strong, showing that the industry has so far been mostly unaffected by struggles in the greater economy. But those headwinds do represent the most significant threat to the relentless growth Virginia’s sports betting industry has enjoyed since the beginning.”
For more information and analysis on regulated sports betting in Virginia, visit PlayVirginia.com/revenue.
Support AFP
Share
AFP
