Virginia February sports betting handle reaches $545m
Players also took home significant wins during the month.
The Virginia Lottery has released its sports betting results for the month of February. During the month, the state’s handle rose by 25.6% year-over-year to reach $545m.
Mobile sports betting accounted for nearly $540.1m of total state revenue, while casino retail locations brought in the other $4.9m.
Virginia players walked away with more than $495m in wins during February.
Mobile operators reported adjusted gross revenue (AGR) of $44.1m. Retail locations brought in AGR of $289,548. The state thus posted a combined total AGR of nearly $44.5m.
Virginia state law requires a 15% tax on sports betting activity, which is based on the AGR of each permit holder.
For February, the state collected nearly $6.3m in taxes. Virginia’s problem gambling treatment and support funds received more than $158,000 of the taxes collected, while the remaining nearly $6.2m went to the state’s general fund.
In other state news, lawmakers in Petersburg recently voted in favor of bringing in a new casino to the city. Legislation passed in both the House of Delegates and in the Senate.
The House voted to adopt a recent bill proposed by Senator Lashrecse Aird by a vote of 78 to 18. Soon after passing it in the House, the Senate voted to approval the bill by a vote of 24 to 16.
Aird’s bill is now on its way to Governor Glenn Youngkin’s desk.
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