Virginia Sportsbooks Watch Tremendous Bowl Enhance for the primary full month
In their first full month of legal sports betting, Virginia Sports betting took more than $ 265 million in bets.
The Virginia Lottery released the state February Count on Thursday, with the total grip reaching $265.8 million.
Bettors won $ 253.5 millionwhile operator recorded a combined 4.6% stop.
Great first month for Virginia Sports Betting
VA Sports Betting started on 21th January. The first 11 Days of betting led to $ 58 million in bets.
The first full month of betting included the Super bowlwho moved in $ 19.6 million in bets from Virginians. The event was taken into account 7% the monthly total of the state.
As legal markets become more established, early sales figures resemble more mature states. Virginia’s February grip is near Indiana‘s $ 273.8 million and Colorado‘s $ 266.5 million.
Other current full online startup handles
Breakdown of Sports Betting in Virginia
Virginia-based sports betting providers may deduct certain advertising expenses.
In February the five licensed operators reported $ 13.2 million in bonuses and promotions.
The deductions resulted in negative adjusted gross sales of –$ 3.2 million. The state collected $ 300,593 in taxes, with one operator reporting positive adjusted gross sales.
More operators are coming to VA sports betting
FanDuel first launched into the state through its Washington soccer team Partnership.
Four more were active in February:
- William Hill
Further operators were approved in March:
- Golden nugget
- Bally bets
- Bar stool sports betting
Further growth an opportunity in Virginia
Five additional licenses became available when Governor Ralph Northam signed legislation to remedy that 2020 Bill on March 31.
Now is the potential market size at least 17 Sports betting. There is a maximum of 12th mobile licenses not tied to professional sports teams and casinos. According to previous LSR reports, 25 companies have applied for licenses.
There is seven Only mobile licenses remain and applicants receive “substantial and preferential consideration” due to the minority stake.