The Virginia Lottery has reported that sports bettors wagered more than $622 million in September, an increase of 19.6 percent year-over-year.
The sports betting figures came from 12 online operators and three land-based casinos that provide retail sports betting. Online sports betting accounted for more than 99 percent of the state’s sports betting handle, with just more than $3.7 million added by three retail operators.
Retail betting is expected to get a boost in December when Caesars Virginia Casino Resort opens, with recent plans proposing three more restaurants that may attract customers.
Sportsbooks took home more than $65.2 million in adjusted gross revenue at a hold of 11.5 percent. Virginia applies 15 percent in taxes to each operator with positive revenues, and 10 licensed operators made a profit in September. The state collected more than $9.8 million from these gambling operators, with 97.5 percent of this assigned to the Virginia General Fund. Meanwhile, 2.5 percent is earmarked for the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services, with more than $246,000 reaching this fund in September.
