Virginia Lottery releases October sports wagering activity report
The Virginia Lottery today released its report on sports wagering activity submitted by licensed operators for the month of October, the ninth full month of reporting since legal sports betting launched in Virginia on Jan. 21.
Virginians wagered $427,320,306.07, a new monthly record and a 45 percent increase from the previous month. The increased wagering activity was tied to five full weekends of NFL and college football in October.
Virginia bettors won a total of $397,159,921, for a combined 7.06 percent operators win percentage. Virginia’s sports betting catalog of approved leagues and events continues to expand, and through the end of October, bettors have wagered a combined total of nearly $2.4 billion on a wide variety of approved sporting events.
The nine licensed operators included in October’s reporting 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, WSI US, LLC (Wynn), Unibet Interactive, Inc., Penn Sports Interactive LLC and Golden Nugget Online Gaming VA, LLC. 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 over $15.8 million in bonuses and free-play incentives in October.