Virginia sports wagering declined by 15% during February

The Virginia Lottery has announced it found a 15% decline in sports wagering for February, taking $433.8m.

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According to a report from the Bristol Herald Courier, this marks the first time the state has not surpassed $500m in wagers over four consecutive months, despite taking $30m more in wagers than February 2022. 

Residents of Virginia bet on average $15.5m per day, with Super Bowl LVII accounting for 7.4% of the total bets and generating $32.3m during the event.

However, half as many promotional deductions were reported in Virginia for the Super Bowl, when compared to the total amount of $15.8m offered last year.

Mobile devices and online sports betting accounted for $430m of sports betting wagers, while the Bristol Casino and Rivers Casino Portsmouth reportedly accepted $3.6m in wagers.

The gross winnings in Virginia totalled $394m, with $3.46m coming from the casinos.

Virginia is one of the few states in the US where the residents themselves vote on whether physical casinos should be built or not, with four cities having voted in favour of them.

In a report published in March, Virginia reported a total gaming revenue of $38.4m from Hard Rock Hotel & Casino Bristol and Rivers Casino Portsmouth.

Two more casinos, Caesars Virginia in Danville and HeadWaters Resort & Casino in Norfolk, are set to open in 2024.

The state of Virginia will receive $4.68m in taxes from the sports gambling revenue, compared to the $6.3m amount received in January.

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