The Virginia Lottery has reported a 64% year-on-year rise in wagering during the month of July 2022 as the number of active operators doubled.
There were only seven operators active in July 2021, but between July 1 and July 31 this year there were 14, which saw Virginians wager $266m in total.
According to the Virginia Lottery, Virginia bettors won a total of $240m for a combined 9.8% operator hold, up from 8.8% in June when $295.2m was wagered and bettors in the state won a total of $269.3m.
13 licensed operators accepted mobile sports wagers in July, while HR Bristol launched its retail sports book.
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.
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 July 2022, $3.1m was paid in tax by the 14 operators, the majority of which ($3m) was paid to the General Fund, while $76,509.59 went to the Problem Gambling Treatment and Support Fund.
The Virginia Lottery added that eight operators reported net positive AGR for the month of July.