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
GAT EXPO CARTAGENA 2025
28 de April 2025
26th edition of GAT Expo Cartagena closed with great success
(Cartagena de Indias).- The most important fair for the gaming, entertainment, technology and Esports industry in Latin America ended with an excellent commercial balance and testimonials of satisfaction from suppliers and operators, local and international authorities, associations and the main trade unions in the region.
Friday 02 May 2025 / 12:00
Colombian Olympic Committee, GAT Expo, and Colombian Official Esports Announce Historic Partnership to Promote Esports as an Olympic Discipline in Colombia
(Cartagena) - The Colombian Olympic Committee (COC) and GAT Esports have sealed a strategic partnership to promote esports as part of the country's professional sports ecosystem. The announcement was made at a formal ceremony held at the gaming industry products and services exhibition hall, attended by Marco Emilio Hincapié, President of Coljuegos, COC executives, José Aníbal Aguirre, CEO of GAT Esports, media, and special guests.
Wednesday 30 Apr 2025 / 12:00
GAT Expo 2025: Novelties, technology, innovation, and high-level networking in the magical city of Cartagena
(Cartagena, SoloAzar Exclusive).- Today concludes GAT Expo Cartagena 2025, which has taken place this week with the presence of 23 countries and more than 70 international brands in the historic city of Cartagena de Indias, with its cobblestone streets, flower-filled balconies, and centuries-old walls.
Wednesday 30 Apr 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.