LR NEWS 1898 DAILY

Virginia Sports Betting sees a bump from college basketball in its sophomore month

Virginia Sports betting continued to increase in the second full month.

March VA sports betting grip reached $ 304.1 millionafter a Virginia Lottery publication Friday.

The six operators live together for one in March 8.7% keep up with adjusted gross sales of $ 13.8 million.

Second month of sports betting in Virginia

The March grip was one 13.7% increase over February‘s $ 265 million.

The state started sports betting on 21th January. The first 11 The days of betting were moving overall $ 58 million in bets.

February inclusive $ 19.6 million in the Super bowl Bets.

Sports betting taxes are increasing somewhat

Virginia sets a fifteen% Sports betting tax based on adjusted gross earnings.

March almost generated $ 1.2 million in taxes for the state.

That makes up most of the $ 1.5 million Paid in taxes since January start.

New sports betting provider started

There were five operators living in the state in February. WynnBET joined the fight in March.

At the VA Lottery presentation on April 21a look at the state market was revealed. FanDuel asserts 53% of the market from January 21st to March.

The market share of other operators in sports betting in Virginia has developed as follows:

  • DraftKings:: 24%
  • BetMGM:: 14%
  • William Hill:: 8th%
  • BetRivers:: 1%
  • WynnBET: 0%

Prints take a bath

Sports betting providers can deduct advertising expenses from their taxable income.

Operators reported in March $ 10.3 million in bonuses and promotions. That’s down from $ 13.2 million in February.

FanDuel accounts for the market share figures for the first two months 43% of promo issues in VA Sports Betting.

More operators are coming to Virginia

There are 17th Slots for potential sports betting in the state. At least 25th Operators applied according to previous LSR reports.

On April 21, Unibet became the 10 .. approved operator. Three new operators were approved in March:

  • Bally bets
  • Bar stool sports betting
  • Golden nugget

Up to five new licenses can be approved in a new application period May 15th to 31st.

Slightly outside of the top 5 in sports betting

Virginia’s $ 304.1 million is likely to land in seventh place in monthly sports betting nationwide, though Illinois reports on his March.

The state is currently just about finished Colorado‘s $ 301 million.

The top five states currently reporting are:

  1. New Jersey:: $ 860 million
  2. Nevada:: $ 641 million
  3. Pennsylvania:: $ 560 million
  4. Michigan:: $ 384 million
  5. Indiana:: $ 317 million

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