Virginia Lottery: Sports bettors have wagered $1.3B since launch

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Between June 1 and June 30, Virginians wagered $234,943,435 and won $212,937,139, for a combined 9.37 percent operators win percentage.

This according to the Virginia Lottery’s report on sports wagering activity submitted by licensed operators for the month of June, the fifth full month of reporting since legal sports betting launched in Virginia on Jan. 21.

Virginia’s sports betting catalog of approved leagues and events continues to expand, and through the end of June, bettors have wagered a combined total of more than $1.3 billion on everything from golf, football and motor sports to soccer and basketball.

The seven licensed operators included in June’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), and Unibet Interactive, Inc. 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 (AGR), 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 $5.0 million in bonuses and free-play incentives in June:

Gross sports gaming revenues

  • June 2021: $234,943,435
  • Inception to Date: $1,327,080,647

Gross winnings

  • June 2021: ($212,937,139)
  • Inception to Date: ($1,220,059,751)

Bonuses and Promotions

  • June 2021: ($4,983,544)
  • Inception to Date: ($45,552,740)

Other deductions

  • June 2021: ($2,125,855)
  • Inception to Date: ($12,150,273)

AGR (Adjusted Gross Revenue)

  • June 2021: $14,896,898
  • Inception to Date: $49,317,884

Four operators reported net positive AGR for June, and the associated tax collections are as follows:

Total Tax

  • Monthly Taxes: $2,273,995.39
  • Inception to Date: $7,831,049.70

General Fund Allocation

  • Monthly Taxes: $2,217,145.51
  • Inception to Date: $7,635,273.46

Problem Gambling Treatment and Support Fund Allocation

  • Monthly Taxes: $56,849.88
  • Inception to Date: $195,776.24

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