The Virginia Lottery reported sports betting handle of $319 million for the month of August, good for a 12.1% increase over last August’s numbers.
Bettors in Virginia, however, fared worse, as they lost nearly $33 million, resulting in a 10.4% hold for operators statewide. And while the 12.1% increase from August 2023 compared to August 2022 is robust, it pales in comparison to July’s year-over-year increase of 64%.
The state’s 13 mobile operators and one brick-and-mortar shop reported adjusted gross revenue — after allowed deductions — of $27.5 million last month, resulting in $4.2 million being collected in taxes.