The sports betting handle of Virginia hits nearly $235 million for the month of June, an increase from its previous month. Like most sports betting markets across the country, June has been a good month in terms of betting handle. However, in Virginia’s case, the adjusted gross revenue is lower than its previous month. Many betting software development experts do include data collection and reporting in online sportsbook software. So, if you want to know how your sportsbook is doing, you can generate similar reports as what these states are doing.
For the month of June, the sports betting handle of Virginia is at $234.943 million, 3.5% higher than that of May’s $226.964 million. As for the revenue, for June we have $14.897 million. This is 4.9% lower than May’s $15.663 million. The gross revenue is actually at $22 million. However, Virginia allows their operators to deduct customer acquisition costs in computing for their taxable totals. Operators report around $5 million in free-play incentives as well as bonuses.
Sports Betting Handle of Virginia
The sports betting handle of Virginia still has the potential to increase. Currently, all wagers in the state are through sports betting software. Eventually, retail sportsbooks will also open to offer sports betting. However, for now, the whole $234.94 million handle comes from online sportsbooks. Once retail sportsbooks open, the handle could be higher.
More than that, the state also plans to issue licenses to more sports betting operators. Once their applications gain approval, they can start opening operations as early as August. This is a great month to start increasing your sportsbook’s visibility as September will bring in the start of football season. This means that as early as August, we will be seeing wagers on futures bets, pre-season games. Of course, opening lines for the first week of games will also be available.