In less than six months, Virginia has emerged as one of the most legitimate online sports betting markets in the US. The Virginia Lottery released the latest monthly sports betting revenue numbers on Friday, and June marked another strong month for one of the nation’s newest sports wagering strongholds.
The current sports betting landscape in Virginia represents only a slice of what the state market will look like at full maturity. State laws allow for up to 12 mobile sports betting apps, but only seven of those online sports betting licenses were operational in June.
VIRGINIA SPORTS BETTING REVENUE June 2021
|Overall Betting Handle||Adjusted Gross Revenue||Sports Betting State Tax|
|June 2021|| $234,943,435||$14,896,898||$2,273,995
Virginia became the fastest state in US history to clear the $1 billion betting handle mark in May. June marked another month of strong betting interest from bettors in the Old Dominion.
The state’s seven online sportsbooks took $234,943,435 in wagers in June. That figure marks a 3.5% increase month-to-month against May.
In only the fifth full month of operations, Virginia continues to contend for a spot among the top five US online sports betting markets, in terms of monthly handle. With June’s numbers added, the state’s sportsbooks have taken more than $1.3 billion in bets since legal sports betting debuted on Jan. 21.
While betting handle increased from May to June, adjusted gross revenue took a month-to-month dip. June AGR came in at $14,896,898, a 4.9% decrease from May.
Virginia’s sportsbooks have produced $49,317,884 so far in 2021. That total has yielded $7,831,050 in tax revenue for the state.
Virginia taxes net positive AGR from online sports betting at 15%. June revenue totals allowed the state to collect $2,273,995 in taxes.