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Sports betting revenue falls in VA despite handle increase in June


The Virginia Lottery reported a 40.9% year-on-year decline in sports betting revenue in the state during June, despite a 25.7% increase in player spending.

Handle for the month reached $295.2m, up from $234.9m in June last year, but 16.0% lower than $351.5m in May 2022.

Adjusted gross revenue for the month, defined as total bets minus winnings, bouses and promotions and other authorised deductions, reached $13.0m, down from $22.0m in June 2021.

It was also noted that this figure represented a 52.7% drop from $27.5m in May of this year.

Consumers won $269.3m from sports betting in June, while the Virginia Lottery also noted $7.8m worth of bonuses and promotions, as well as an additional $5.1m in deductions.

The state generated $1.9m in tax from sports betting during the month, with $1.8m of this going to the General Fund Allocation and $46,799 the Problem Gambling Treatment and Support Fund Allocation.

Since the state launched its legal sports betting market in January 2021, consumers spent a total of $5.62bn, winning $5.13bn in the process and leaving $232.6m in adjusted gross revenue.