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Virginia sports betting handle reaches $503.1m in December


Players in Virginia spent $503.1m betting on sports during December, a 17.9% increase on the same month in 2021 but a slight month-on-month decline.

Total handle for the month was comfortably ahead of $426.6m in December 2021 but was down 3.0% from $518.8.m in November of 2022.

Adjusted gross gaming revenue for December – total wagers minus winnings, bonuses and promotions and other authorized deductions – rocketed by 365.4% to $10.1m, though this was 11.0% behind $52.8m in November.

Players won a total of $452.4m from betting on sports during the month, while the Virginia Lottery, which reports the state’s official betting data, also noted $567,709 in bonuses and promotions, plus a further $3.1m in other deductions.

Total tax collected from sports betting during the month was $7.0m, with $6.9m of this allocated to the General Fund Allocation and $175,671 the Problem Gambling Treatment and Support Fund Allocation.

A total of 14 licensed operators were active in Virginia in December, an increase from 11 in the same month in 2021.

This week, Virginia’s market expanded further with news that both Bet365 and Betfred had launched sports betting in the state.