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Virginia sports betting revenue dips in June despite handle increase


The Virginia Lottery has reported a 5.1% month-on-month decline in sports betting revenue to $14.9m in June despite the US state’s handle increasing.

Adjusted gross revenue was down from $15.7m in May, though the previous month’s total was the highest monthly amount since the state’s market opened on January 21 this year.

This was despite player spending edged up 3.5% from $227.0m to $234.9m.

Consumers in the state won $212.9m from sports wagering in June, while the state was able to generate $2.3 in taxes. Virginia law places a 15% tax on sports betting activity based on each license-holder’s adjusted gross revenue, defined as total bets minus winnings and other authorized deductions.

Some $2.2m of the total tax collected was allocated to the General Fund Allocation and the remaining $56,850 sent to the Problem Gambling Treatment and Support Fund Allocation.

Seven licensed operators were active in Virginia in June, including Flutter Entertainment-owned FanDuel, in partnership with the Washington Football Team. DraftKings, Rush Street Interactive, Caesars, WynnBet, BetMGM and Kindred Group’s Unibet brand.