Virginia sports betting revenue and handle increase in March

Higher player spending on sports betting in Virginia during March helped to push adjusted gross revenue up by 6.4% year-on-year.

Adjusted gross sports betting revenue for the month hit $45.1 million. This cleared the $42.4 million reported in Virginia in March of last year but fell 27.1% short of February.

Mobile betting accounted for $44.4 million of total revenue in March, with retail’s share at $692,282. This is according to data published by the Virginia Lottery.

In terms of spending, overall handle for the month amounted to $689.7 million. This beat last year by 8% and February by 23.9%.

Of this total, $683.1 million was wagered via online and mobile platforms in Virginia. The other $6.5 million was bet at retail sportsbooks across the state.

This resulted in a statewide hold of 6.58%.

Virginia players get back $639 million of their bets

While the Virginia Lottery does not release information on individual operators, it does make public certain other data.

The monthly report reveals players received back $639 million from sports betting in March. Some $5.6 million was also reported in undisclosed “other deductions”.

As for tax, $6.8 million was collected from sports betting during March. Some $6.6 million was sent to the General Fund Allocation, and $168,873 to the Problem Gambling Treatment and Support Fund Allocation.

A total of 14 mobile operators and three casinos were authorised to accept bets in Virginia in March.