The Virginia Lottery has released its report on sports wagering activity submitted by licensed operators for the month of May.
Between May 1 and May 31, Virginians wagered $351,452,931, 55 percent higher than May 2021, when only seven operators were active.
Virginia bettors won a total of $308,915,407 for a combined 12.1 percent operators win percentage. Through the end of May, bettors have wagered a combined total of $5.3 billion on a wide variety of approved sporting events.
During the month of May, fourteen licensed operators were active and accepting mobile sports wagers. A complete list of all approved operators can be found here, under the “approvals” tab.
State law places a 15 percent tax on sports betting activity based on each permit holder’s adjusted gross revenue, which is defined as total wagers minus total winnings and other authorized deductions. Virginia’s statute allows operators to deduct certain customer acquisition costs from AGR, and operators reported nearly $10 million in bonuses and free-play incentives in May.
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AFP
