Virginia’s sportsbooks report handle of $427m for October

By Gambling Insider

Virginia’s sports betting volume has reached a new record with $427m in wagers for October, easily breaking the previous record of $304.1m set in March.

This new total has made Virginia the quickest state in the US history to reach $2bn in lifetime wagers.

The state’s handle was up 45% from the previous month and rose to $13.8m in average daily bets over the 31 days of October, from $9.8m for September.

The month’s gross gaming revenue decreased by 3% to $30.2m, down slightly from the record of $30.9m it set for September.

Since launching in January 2021, Virginia’s sports betting market has produced $2.4bn in wagering, $206m in gross gaming revenue (with $90.8m in taxable revenue) and $14.4m in state taxes.

In addition to the five weekends of pro and college football, baseball’s postseason and the return of the NBA, which were obvious catalysts in every state, Virginia had some local help.

Indeed, the Baltimore Ravens hasBy been one of the NFL’s best teams and the Washington Football Team remained in the playoff race, which boosted local interest. On top of that, the Washington Wizards got off to a great start.

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