There was a 56% rise in handle through the month compared to 2021 – totalling $284.7m. This figure was helped by the five extra operators available to customers in the state – climbing from eight to 13 during 2021/22.
Meanwhile, gross gaming revenue stood at $31.4m, up from $24.4m month-on-month.
The win percentage for sports betting was also up, hitting 13% in Virginia, which was the highest in the state since it legalised the activity in January 2021 – generating a 50% increase in taxes collected for the previous month.
The previous four months had seen a drop in player spending on sports betting in the state, though these figures were still better annually than in 2021. The handle for July came in at $266m, 10% lower than June’s $295m but still 64% higher than July 2021; however, with the return of football season, betting has benefitted from kick-off of the NFL.
Dan Stupp, Lead Analyst for PlayVirginia.com, commented: “Five weekends of football, which included an extra week of regular season football and expanded NFL playoffs, were unquestionably a boon for sportsbooks in January.
“Sportsbooks will begin to slow down after March Madness, but the industry made a giant leap forward during the football season, and that has it on solid footing for the year ahead.”
