Virginia sportsbooks end the year on a high note
The state narrowly missed out on a record-breaking month in December.
The year ended positively for sportsbooks in the Old Dominion. As the state’s first year of sports betting came to a close, Virginia narrowly missed out on a record-breaking month, bringing in $426.6m in handle and just over $31.5m in gross revenue.
As reflected in data released by the Virginia Lottery, this marks the third consecutive month that the state has had a handle of over $400m, with this month’s total showing a 6% rise in comparison to November. However, while beating November to second place, the final month of the year was unable to beat October’s record of $427.3m in handle.
Over the course of the month, bettors spent around $13.8m per day, compared to the $13.4m found in November.
In general, bettors were luckier in December than during the previous month. Sportsbook revenue came in at just $31.5m, a 35% drop from November’s $48.3m. Overall, sports betting produced $10.1m in taxable revenue and $1.7m in state taxes.
This marks the end of a decidedly positive opening year for Virginian sports betting. 2021 saw a total of $3.2bn in wagers, the eighth highest in the country, as well as a gross revenue of $285.9m. In total, state taxes related to gaming came to $20.3m.
Finally, basketball came out on top as the most bet on sport in December, beating football during a busy NFL season.
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