The Virginia Lottery has released its sports wagering report for June, revealing a 25% year-on-year increase in wagering.
Virginians wagered $295.2m between June 1 and June 30, a sizeable upturn from the $236.2m staked in the same month of Fiscal Year 2021, when there were only seven active operators.
In June of Fiscal Year 2022, there were 13 licensed operators active and accepting mobile sports wagers.
Bettors in the state won a total of $269.3m for a combined 8.8% operator hold, which is down from figures earlier in the year, such as in May where the hold was 12.1%.
Since regulated sports wagering began in Virginia during January 2021, $5.6bn has been wagered on various approved sporting events.
Under state law, a 15% tax is placed on sports betting activity based on each permit holder’s AGR. Operators are permitted to deduct certain customer acquisition costs from AGR, and they reported $7.8m in bonuses and free-play incentives in June.
Seven operators reported net positive AGR for June, leading to $1.87m in tax payments for the month.
97.5% of the state tax on sports betting AGR is deposited in the state’s General Fund and 2.5% is deposited into the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioural Health.
In June, $1.83m was handed to the General Fund while the Problem Gambling Treatment and Support Fund received $46,799.02 in taxes.