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Virginia sports betting revenue decline continues in August


The Virginia Lottery has revealed sports betting revenue declined for the third consecutive month in August, despite the US state seeing a month-on-month improvement in handle.

Adjusted gross revenue for the month amounted to $8.7m, the lowest total since the first month of legal sports wagering in January this year and 31.5% down from 12.7m in July.

Player spending improved 12.7% month-on-month to $182.4m, with consumers winning a total of $164.5 from sports wagering.

Virginia generated $1.4m in tax during the month, with $1.3m of this going to the state’s General Fund, and the other $34,463 to the Problem Gambling Treatment and Support Fund.

Since the launch of legal sports betting in the state in January of this year, adjusted gross revenue amounted to $70.7m, with players having spent a total of $1.67bn on wagering.

Eight licensed operators were active in Virginia during August, with Penn Interactive having launched in the state, joining Flutter Entertainment-owned FanDuel, in partnership with the Washington Football Team. DraftKings, Rush Street Interactive, Caesars, WynnBet, BetMGM and Kindred Group’s Unibet brand.

However, last month it was revealed that Australian mobile wagering operator BlueBet Holdings withdrew its application for a license in Virginia after being deemed ineligible for a permit.

BlueBet had put forward a submission for a license and paid all the relevant application fees but was informed by the Virginia Lottery that it was not eligible.

The Virginia Lottery said that licenses would, at this stage, only be granted to operators that had experience in other US states and have equity interest owned by minority individuals or minority-owned businesses.