Sports betting handle in Virginia hits new record in October, weak hold hits revenue
Friday 29 de November 2024 / 12:00
2 minutos de lectura
(Virginia).- Sports betting handle in Virginia hit a record $696.1 million in October. Handle for October was 21.8% higher than the $571.4 million wagered in Victoria during the same month last year. It also surpasses September’s $622.1 million handle by 11.9%, the Virginia Lottery reports.
However a year-on-year decline in adjusted gross revenue suggests evidence of player-friendly results in the NFL hitting operators’ performance is emerging.
Handle for October was 21.8% higher than the $571.4 million wagered in Victoria during the same month last year. It also surpasses September’s $622.1 million handle by 11.9%, the Virginia Lottery reports.
The existing monthly record in Virginia was $652.9 million, which was set in January this year. October’s new record surpassed this by 6.6%.
Online betting accounted for $692.2 million of all sports wagering activity in October, with retail’s contribution at $3.9 million.
Hold reaches 7.04% in October
Adjusted gross revenue after player winnings came to $49.0 million. The total falls 13.1% short of October 2023 and 25.6% behind September’s $65.9 million.
Of that total $48.8 million in AGR came from online betting, while retail brought in $232,925. The Virginia Lottery does not publish a full breakdown of operator performance. However, 11 of the 13 mobile operators and three casinos that licensed for betting reported net positive AGR.
The $49.0m AGR suggests a hold of 7.04% across retail and online. Online hold was 7.05% and retail 5.93%. This marks a signifcant decline from an 11.5% hold in September 2024. Last October the state’s sports betting hold stood at 11.2% for the month.
Total tax from the 15% AGR levy on sports betting was $7.3 million in November, with 97.5% of this going to the state’s General Fund. The remaining 2.5% is sent to the Problem Gambling Treatment and Support Fund.
Categoría:Sportsbook
Tags: Sin tags
País: United States
Región: North America
Event
SIGMA EUROPA – Malta 2024
11 de November 2024
"SiGMA Europe serves as a bridge between industry professionals and creative minds" Mikhail Voinich of Belatra Games
(Malta, Exclusive SoloAzar) - Belatra Games exhibited its products during SiGMA Europe 2024. That is why we asked Head of Business Development Mikhail Voinich to share an analysis of the company's presentation at the show.
Wednesday 11 Dec 2024 / 12:00
Sigma Europe: Nicolás Campano from Soft2Bet and the pride of the firm after exhibiting at the event
(Malta, SoloAzar Exclusive).- Nicolás Campano, Soft2Bet Sales Director for LATAM, shares all the details behind the company's participation at SiGMA Europe 2024. Key products and business possibilities are some of the issues treated in this interview.
Tuesday 10 Dec 2024 / 12:00
SiGMA Europe: key experience for 21VIRAL's growth in Latin America
(Malta, SoloAzar Exclusive).- 21VIRAL's CEO, Christoph Härtel, shared his vision on his participation in the SiGMA Europe 2024 fair, held in Valletta, Malta and his strategic view of the LatAm market.
Monday 09 Dec 2024 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.