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
G2E - Las Vegas 2025
06 de October 2025
CT Interactive on Innovation, Networking, and Market Growth at G2E 2025
(Las Vegas, SoloAzar Exclusive).- The global gaming industry marked G2E’s 25th anniversary with a major gathering in Las Vegas. CT Interactive stood out for its innovative product development and international growth strategy. Account Manager LATAM at CT Interactive, Roberto Muñoz, shared insights on G2E’s importance, emerging trends, and the company’s collaborative expansion efforts.
Thursday 30 Oct 2025 / 12:00
Atlaslive Explored the Future of Gaming in Latin America at Recent G2E 2025
(Las Vegas, SoloAzar Exclusive).- Bruno Almeida, Head of Sales LATAM at Atlaslive, attended G2E for the first time to explore how land-based and online gaming are converging. His experience highlighted key trends shaping the Latin American market, from immersive casino innovations to strategic networking and regulatory insights.
Monday 27 Oct 2025 / 12:00
G2E 2025: Cristian Galarza, ASAP Director Explains the Importance of Attending the Event
(Las Vegas, SoloAzar Exclusive). - After attending the 25th anniversary edition of G2E in Las Vegas, ASAP’s director shares his perspective on the evolution of the industry, driven by digitalization, efficiency, and the creation of international networks that foster new business opportunities.
Tuesday 28 Oct 2025 / 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.