Virginia reported its largest month of sports wagering activity thus far in 2023 and the second busiest month ever during September.
The return of the NFL and college football helped generate more than $520.3 million in gross sports wagering, according to a report issued Wednesday by the Virginia Lottery.
That represents about $17 million per day and was exceeded only by the $528 million spent in October 2022, lottery figures show.
Over $514.7 million was wagered through mobile operators and $5.6 million was wagered at Virginia’s three casino sportsbook sites in Bristol, Danville and Portsmouth, according to the lottery.
Virginia bettors claimed a total of $466 million in gross winnings during the month, also the highest of 2023 and second highest ever. That resulted in a net hold of 10.3% for operators, who reported adjusted gross revenues of $45.6 million, the second highest total for 2023, after deducting over $8 million for promotions, bonuses and other allowed deductions.
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Sports wagering generated more than $7 million in taxes for the month, according to the report.
Parlays and pro basketball represent a combined 44% of all Virginia sports wagering during the period from January to September, according to a sports gaming update provided last week to the Virginia Lottery Board.
Baseball and tennis were both over 13.5% apiece while football — both college and pro — was a combined 10%, which obviously doesn’t include the 2023 regular season that just began in September.
Virginia currently has 16 licensed operators after WSI US, LLC, also known as Wynn, decided to close its sports books in August, according to the lottery.
All bets have been settled and the firm is working with the lottery to resolve any remaining funds that had been placed with the firm.
Wynn had less than a half of 1% of the Virginia betting market during the first eight months of 2023, according to the lottery.
Fan Duel and Draft Kings continued receiving the majority of play in the market with 40% and nearly 28%, respectively, during the first eight months of the year. Bet MGM had nearly 13%, Caesars almost 6.5%, Bet365 had 4%, Barstool 2.4%, Rivers 1.7%, Hard Rock 1.6%, with the remaining seven operators at less than 1.5%.
Permits of eight of those operators are up for renewal during the first four months of 2024. Those include Betfair Interactive (FanDuel) in conjunction with the Commanders, Crown Virginia Gaming LLC (DraftKings), BetMGM LLC, Rivers Portsmouth Gaming LLC, Caesars Virginia LLC, all in January. Others include Bally’s Interactive LLC and Penn Sports Interactive LLC in March and Unibet Interactive Inc. in April.
Twitter: @DMcGeeBHC
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