Virginia recently changed how sports betting is taxed and new data suggests it’s starting to pay off.
But bettors may notice fewer play-for-free promotions this football season because of it.
Virginia legalized sports betting in 2020 with the goal of turning back-room gambling into a big source of tax revenue. The Joint Legislative Audit and Review Commission previously projected sports betting would generate up to $55 million annually for the Commonwealth.
Delegate Mark Sickles (D-Fairfax) said tax revenue was falling short of those expectations, largely because of a loophole in the original legislation. Sickles said operators were previously able to offer generous incentives to attract new bettors without paying taxes on spending related to those promotions.
