Virginia sports betting handle reaches $415.4m for June
The state reported monthly growth when compared to results from last year.
The Virginia Lottery has released its monthly sports wagering results for June. Players throughout the state wagered close to $415.4m during the month, which represents a boost in year-over-year activity of 27.6%.
Virginia bettors walked away with a majority of the win during June. Players took home almost $370m in winnings in June.
Adjusted gross revenue (AGR) in June reached nearly $40.5m. Mobile operators around the state walked away during the month with $40.2m of the overall revenue total, while retail sports betting locations collected another $0.2m.
According to state law, 15% of all sports betting activity is subject to tax.
The state lottery further outlined a breakdown in where those funds are used by saying, “Of the state tax on sports betting AGR, the statute specifies 97.5% is to be deposited in the state’s General Fund and 2.5% is to be deposited into the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services.”
During the month of June, the state collected $6.2m in taxes on Virginia sports betting. Of the total tax collected, close to $6.1m went to the state’s general fund, while the remaining total went to its problem gambling treatment and support fund.
In related news, the state of Ohio published its June sports betting report, along with results from the past six months. June revenue in the Buckeye State was the lowest total so far this year. June sports betting revenue in Ohio reached $51.2m.
The full report is available to read here.
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