2023 was a good year for sports betting in Virginia. The total wagers placed in 2023 totals $5.6 billion, giving sports betting operators almost $505 million in sports betting revenue. It is also much higher than the $4.9 billion handle for 2022. And the trend seems to continue with Virginia sports betting and gambling, if Read more about Virginia Sports Betting and Gambling Numbers Signify Growth[…]
Win rates are proving to be the secret to the success of the sports betting industry in Virginia. Looking at reports over the last few months, Virginia sportsbooks see a consistent increase in hold percentage from sportsbooks across the state. The hold percentage is very important because it is the easiest indicator that tells you Read more about Virginia Sportsbooks See Continuous Growth in Hold Percentage[…]
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 Read more about Sports Betting Handle of Virginia Records Almost $235 Million in June[…]
Virginia bookie operators report their sports betting handle for April at $236.4 million. This is only the third month that sports betting is regulated in the state. Currently, Virginia has an online-only sports betting market, as retail sportsbooks and casinos will not be built and operating until 2022 at the earliest. This is a great Read more about Virginia Bookie Operators Handle at $236.4M for April[…]
Virginia’s lawmakers passed their sports betting bill into law last April. Since then, Governor Northam’s approval plus the Lottery Commission’s work on creating regulations is ongoing. Currently, the regulations are already made. Virginia pushes through with speeding the process of legalizing sportsbooks. The caveat: it comes with consumer protections, including a Bettors Bill of Rights. Read more about Virginia Pushes Through with Legalizing Sportsbooks with Unique Bettors Bill of Rights[…]
Virginia has been studying the idea of legalizing sports betting in the state. Prior to forming any detailed Virginia sports betting law, the General Assembly passed a law to study the industry last year. SB 1126 commissions a report on “gaming in the commonwealth”. The study aims to study the impact of having a sports Read more about Virginia Sports Betting Could Generate Millions in Revenue[…]