Virginia sports betting revenue dips in June as player spending falls

| By Robert Fletcher
The Virginia Lottery has reported a 5.1% month-on-month decline in sports betting revenue to $14.9m (£10.7m/€12.5m) in June as the US state’s handle fell 6.2%.

Adjusted gross revenue was down from $15.7m in May, though the previous month’s total was the highest monthly amount since the state’s market opened on January 21 this year.

Player spending also fell from $227.0m to $212.9m, marking the third consecutive month of handle decline in Virginia and the lowest monthly figure since the market launched.

Consumers in the state won $212.9m from sports wagering in June, while the state was able to generate $2.3 in taxes. Virginia law places a 15% tax on sports betting activity based on each license-holder’s adjusted gross revenue, defined as total bets minus winnings and other authorized deductions.

Read the full story on iGB North America.

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