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Virginia betting revenue bounces back in May as spending surpasses $1bn


Sports betting revenue in Virginia increased 37.7% month-on-month to $15.7m in May, while total handle since launch passed $1.0bn despite a second month of decline.

Adjusted gross revenue was up from $11.4m in April and was also the highest monthly total since the market opened on January 21.

While more than $1.0bn has now been spent on sports betting since launch, the state’s handle declined for the second consecutive month to $227.0m. This was down 4.0% from $236.4m in April and the lowest full monthly total to date.

Players won a total of $203.8m from sports betting in May, while the state generated $2.4m in taxes.

Some $2.3m of tax collected in May was distributed to the General Fund Allocation, while the remaining $59,528 wase sent to the Problem Gambling Treatment and Support Fund Allocation.

A total of seven licensed operators were active in Virginia during May, including Flutter Entertainment-owned FanDuel, in partnership with the Washington Football Team. DraftKings, Rush Street Interactive, Caesars, WynnBet and BetMGM were all live before May 1.

Kindred Group also launched its Unibet brand in the state at the start of the month, powered by its partners online gambling platform provider Pala Interactive and sportsbook technology supplier Kambi.