VA surpasses $2.3bn in total wagers after setting new handle record in October

| By Robert Fletcher
Consumers in Virginia spent a record $427.3m (£323.4m/€378.4m) betting on sports in October, taking the total amounts wagered since the state’s market launched in January to $2.39bn.
Richmond Virginia

October’s handle was 50.5% higher than the $427.3m spent by players in Septemberand comfortably beat the previous monthly record of $304.1m set in March.

Players won a total of $397.2m from sports betting in October. After subtracting $15.8m in bonuses and promotional bets, and $4.6m in other deductions, this left $9.8m in adjusted gross revenue, down 4.9% from $10.3m in September.

The state generated $1.7m from the 15% tax on adjusted gross revenue, defined as total bets minus winnings and other authorised deductions.

Read the full story on iGB North America.

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