Virginia Lottery: November reported as second-highest month for sports wagering

Virginia News

(WFXR) — On Thursday, the Virginia Lottery released its numbers on its sports wagering activity for the month of November — the 10th full month of reporting since legal sports betting launched in Virginia on Jan. 21.

According to the Virginia Lottery, between Nov. 1 and Nov. 30, Virginians wagered $402,621,132. This figure follows the record-setting month of October since sports betting began in Virginia less than a year ago.

Since its inception, Virginia bettors have wagered a total of more than $2.7 billion on a wide variety of approved sporting events. During the month of November, Virginia bettors have won a total of $354,284,095 for a combined 12.01 percent operators win percentage.

The ten licensed operators included in November’s report were FanDuel in partnership with the Washington Football Team, Draft Kings, BetMGM LLC, Rivers Casino Portsmouth, Caesars Virginia LLC, WSI US, LLC (Wynn), Unibet Interactive, Inc., Penn Sports Interactive LLC, Golden Nugget Online Gaming VA, LLC and Twin River Management (Bally’s Corporation). A listing of all approved operators can be found here.

Virginia law places a 15 percent tax on sports betting activity based on each permit holder’s adjusted gross revenue (AGR), defined as total wagers minus total winnings and other authorized deductions. Operators reported nearly $15 million in bonuses and free-play incentives in November.

Of the 15 percent state tax on sports betting AGR, 97.5 percent is to be deposited into the state’s General Fund and 2.5 percent is to be deposited into the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health.

Monthly financial reports and other information related to legal sports wagering is posted at www.valottery.com/casinosandsportsbetting.

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