Virginians bet $571M on sports in October

Virginians wagered $571 million on sports in October, up 8.2% from a year ago, according to data released Friday by the Virginia Lottery.

About $565.5 million in sports betting revenue came from mobile operators, and the rest, roughly $5.7 million, came from casino retail activity. Virginia’s current casinos are the temporary Bristol Casino: The Future Home of Hard Rock, the permanent Rivers Casino Portsmouth and the temporary Caesars Virginia casino in Danville. Virginia casino gaming revenues in October totaled $49.6 million, according to the Virginia Lottery.

October’s sports betting revenues were a 9.8% increase from September’s handle, which totaled about $520 million. Virginia sports bettors won about $507 million in October and approximately $466 million in September.

The licensed operators included in October’s reporting were:

• Betfair Interactive US (FanDuel) in partnership with the Washington Commanders,
• Crown Virginia Gaming (Draft Kings),
• BetMGM,
• Rivers Portsmouth Gaming (Rivers Casino Portsmouth),
• Caesars Virginia,
• WSI US,
• Twin River Management Group,
• Penn Sports Interactive,
• Unibet Interactive,
• Colonial Downs Group,
• Digital Gaming Corporation VA,
• VHL VA,
• HR Bristol,
• Hillside (Virginia),
• DC Sports Facilities Entertainment,
• Betr VA,
• and PlayLive Virginia.

Virginia places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue. With nine operators reporting net positive adjusted gross revenue for October, the monthly taxes totaled $8.55 million, 97.5% of which will be deposited in the state’s general fund. The remainder, about $213,750, will go to the Problem Gambling Treatment and Support Fund, which the Virginia Department of Behavioral Health and Developmental Services administers.