Virginia halts sports betting handle decline in August

Virginia sports betting apps and the state's retail providers capped off a very good 2023 with its second-best handle and revenue month ever in December since Virginia sports betting was legalized in 2021. According to the Virginia Lottery December report, sports betting activity and revenue figures for the last month of 2023 capped off a record…

ESPN Bet shakes up Ohio sports betting ESPN Bet made a dent in the established order of the Buckeye State by overtaking the likes of BetMGM, bet365, Caesars Sportsbook, and Fanatics to snatch the bronze medal position in November 2023, according to the latest monthly numbers released by the state regulator. The PENN Entertainment-powered ESPN Bet…

DraftKings remained the top operator, raking in just under $100 million in handle. Kansas celebrated its one-year anniversary of legal sports betting in September, and things are looking up in the Sunflower State. The Kansas Lottery reported a September handle of $219.2 million, well above the $94.4 million in August. Revenue also jumped from $4.4…

Virginia is collecting more tax revenue from sports betting and casinos than fiscal analysts predicted four years ago when the state was considering legalizing more types of gambling. Taxes from sports betting more than doubled in fiscal year 2023, according to Virginia Lottery figures presented Tuesday, jumping to $67 million from $27 million the…

DraftKings sees most action, backed by large promotional offers. August gave bettors a glimpse of 2023 football with NFL preseason games throughout the month and college football's Week 0. That was enough for Kansans. The Kansas Lottery announced that August's legal sports betting handle hit $94.4 million, an 18.4% increase compared to July's $79.7…

The Virginia Lottery announced that their online sports betting sites and retail sportsbooks accepted $293.6 million in bets during July, an 8.8% monthly decline. As expected, Virginia's legal sports betting market continued to fall in the summer months as the commonwealth, like all other legal betting states, is counting down the days to football…

The Sunflower State's July handle was down 18.8% month-over-month, but a 12.1% hold on the $9.6 million gross gaming revenue - up 18% month-over-month - helped make up for it. The Sunflower State's legal sports betting operators kicked off the new fiscal year with a bounceback from the previous month. The Kansas Lottery reported July's adjusted…

The Virginia Lottery reported that state sportsbooks posted a 10% hold for the fourth consecutive month in June, narrowly clearing the benchmark with close to $32.7 million in gross revenue. The Old Dominion has long been a state where the house has flexed its collective muscle in sports wagering, as June marked the 16th consecutive month that…

Maryland has a higher win rate and more wagers to thank for its 10 online and retail sportsbooks generating a taxable win figure of over $30 million in May. More wagers and a higher win rate for Maryland's sportsbooks equaled the second-best tax revenue for the state since legal sports betting hit mobile devices in November 2022. The Old Line…

With college basketball coming to an end and NHL/NBA slates winding down, The Old Line State's April handle of $313.5 million marked the lowest monthly total since November 2022. Maryland's hot start to mobile legal sports betting finally cooled off some in April. The Old Line State's online handle of $313.5 million dropped 15% month-over-month,…

Only nine operators posted a profit due to the absence of NFL action. As football season ends, so too did the recent uptick in legal sports betting for the state of Virginia. The Virginia Lottery announced that their sportsbooks took in $433.8 million worth of bets in February, marking a 15.5% monthly decline from January. From that 433.8 million,…

The North Carolina House of Representatives approved a bill to legalize mobile sports betting Wednesday by a vote of 64-45. The bill, HB 347, heads to the Senate. It was anticipated that the House would provide the largest hurdle to mobile wagering legalization, as the House shot down a mobile betting bill in 2022. Some House members were vocal in…

The new legislation comes as lawmakers and regulators in the U.S. have been taking a tougher tone with the legal sports betting industry recently, including tax tweaks in Colorado and Virginia. Virginia has already tightened up the tax rules applied to online sports betting sites in the state, but there may be interest in toughening them even…

Sports betting sites began taking bets in Virginia in January 2021, and residents have been wagering more and more ever since, including $518.8 million in November. A bipartisan effort is afoot in Virginia to create a committee that would coordinate efforts to help people with gambling problems, which comes as the commonwealth has seen a surge…

November sports wagering in Virginia narrowly missed equaling October's single-month record, but operators enjoyed record revenues. The Virginia Lottery released November figures on Friday, reporting more than $518.8 million wagered. That total is just 1.7% below the state's record of $528 million set in October but is 29% above November…

While the state's tax revenue from sports betting rose in November, it probably won't be enough to quiet concerns that have recently cropped up about the lobbying that went on in the state. The tax money generated by sports betting in Kansas hit its highest total yet in November, but that might not be enough to ease rising concerns in the state…

Sports betting in Virginia again topped $400 million in September with the NFL and college football seasons getting underway. Adjusted gross revenue for the state's 14 operators was $48.39 million, the highest single month total since sports wagering began in Virginia in January 2021, according to the Virginia Lottery which oversees sports…

The Virginia Lottery announced a 30% jump in September's handle compared to the previous month, with the win rate staying firm, leading to a 35% MoM increase in revenue. The Virginia Lottery released the state's September numbers yesterday and Virginia sports betting generated $411.2 million in wagers for the month, a 30% jump from the $284.7…

Maryland came into sports betting trying to create an even playing field for various operators. This effort involved the study, recommendation, and implementation of regulations to assist women and minority-owned businesses trying to enter a difficult market for newcomers. This study delayed Maryland's launch date for months and months, but now…

The state of Virginia reported online sports betting handle of US$284.67m for August 2022, arresting a four-month slump and rebounding from US$266m in July. The margin recorded for August was lower, at 87% compared to July's 90% and is historically the lowest online sports betting margin recorded since the launch in Virginia in 2021. Promotional…

The latest sports betting monthly revenue report from the Virginia Lottery has revealed that local sportsbooks accepted $284.6 million in wagers during the month of August. Revenue grew by $10 million month-on-month The latest figures mark an increase of almost 7% on the $266 million reported in the previous month and a 56% increase year-on-year.…

Numbers recently released by the Virginia Lottery show $4.5 million in sports betting-related tax was paid to the state in August, up from $3.1 million collected in July and $1.4 million a year earlier. The tax tweaks to sports betting in Virginia have sent state revenues skyrocketing in recent months relative to their previous levels, as veteran…

The market had significant rises in both revenue and handle for August compared to July. Sports betting in the state recorded even better numbers in month-over-month and year-over-year comparisons. West Virginia reports its numbers weekly instead of monthly - the July figures are for July 1-30, with July 1 marking the start of the new 2022-23…

Deducting promotional spending from taxable revenue evolved this year into something that comes up every time a sports betting bill is discussed. Some states allowed for significant deductions when they passed their bills, including Colorado and Virginia. But both states since changed their rules in the past year and saw tax revenue increase, which…

RICHMOND, Va. (WRIC)- Virginia recently changed how sports betting is taxed and new data suggests it's starting to pay off. But bettors may notice fewer play-for-free promotions this football season because of it. Virginia legalized sports betting in 2020 with the goal of turning back-room gambling into a big source of tax revenue. The Joint…