• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Virginia Sets Record With $30.9M For September Sports Betting Revenue

Handle of nearly $293.9 million ranks second in state's annals as $5 billion national monthly handle draws closer

Chris Altruda by Chris Altruda
November 1, 2021
in Industry, Regulation
Virginia revenue September 2021

Photo by Kevin Ruck via Shutterstock

Share on FacebookShare on Twitter

Sports betting operators in Virginia had their best month since launch, as a strong September handle of nearly $294 million reported by the Virginia Lottery on Monday contributed to more than $30.9 million in gross revenue.

The gross revenue easily outpaced the previous standard of the nearly $26.6 million established in March. Operators were able to claim more than half of that revenue as tax free via promotional play, with the $17.4 million the most generated since the state began accepting bets in January. It was the third time operators reported more than $10 million in promotional revenue in a month, and the $73.7 million in promotional play to date nearly matches the $81 million in adjusted revenue Virginia has been able to tax.

Between the promotional play and other deductions that totaled close to $3.2 million, the state was able to generate tax receipts off more than $10.3 million in adjusted revenue, which resulted in nearly $1.6 million for state coffers. Virginia has collected more than $12.6 million in tax revenue since launch.

The September handle was second only to March’s record of $304 million, which was fueled by the NCAA basketball tournament. Last month’s handle, boosted by NFL wagering, was up 61.1% month over month from August, and the state’s cumulative handle since launch is less than $35 million away from $2 billion.

Operators posted a robust 10.53% win rate on gross revenue, the third time in the last five months that they’ve reached double figures. Virginia’s 8.95% overall hold is slightly more than one full percentage point from the national hold of 7.87% for 2021.

Cumulative clues minus the monthly breakouts

September #SportsBetting numbers for #Virginia, via @VirginiaLottery:

Handle: ⬆️ 61.1% vs 8/21
GGR: ⬆️ 72.1% vs 8/21
AGR: ⬆️ 18.9% vs 8/21

Note 1: GGR Hold +0.68 pts vs 8/21
Note 2: AGR Hold -1.24 pts vs 8/21
Note 3: Promo rev of $17.42M is all-time high

2/x #GamblingTwitter

— Chris Altruda (@AlTruda73) November 1, 2021

The Virginia Lottery does not publicize handle and revenue by operators for each month, but year-to-date breakouts for some categories were reported at the agency’s most recent meeting Oct. 27. FanDuel continues to be the most dominant operator, with a market share of 45.4% that comes out to slightly more than $892 million based on the nearly $2 billion in overall handle.

It is also more than the combined handles of Nos. 2 and 3, DraftKings (26.1%, $512.9 million) and BetMGM (17.9%, $351.8 million). Of the other seven operators currently accepting wagers, only Caesars (7.6%) and BetRivers (1.1%) have contributed more than 1% to Virginia’s handle, though Golden Nugget only began operations on Sept. 29.

At nearly $7.9 million, FanDuel has also accounted for nearly $5 of every $8 in tax revenue Virginia has collected. Only five operators have paid taxes on adjusted gaming revenue since the state began allowing wagers, with BetMGM ($2.6 million) and DraftKings ($2.1 million) the only other operators above $40,000.

Also of note was that parlay wagering has accounted for 17.84% of total handle, which comes to slightly more than $350.6 million. That means more than $4 billion has been wagered on parlays this year among the nine states that report such figures, which does not include Illinois’ total for September but does include fellow top-10 states New Jersey, Nevada, Indiana, and Colorado.

Another chunk closer to a $5 billion handle for September

Top 3 #SportsBetting monthly handles, post-PASPA era:

1. March 2021 – $4,627,318,465
2. January 2021 – $4,383,158,696
3. SEPTEMBER 2021 – $4,334,708,680#Illinois, #Tennessee, and #Arizona yet to report.#GamblingTwitter

— Chris Altruda (@AlTruda73) November 1, 2021

The Virginia Lottery’s report moved the national handle to more than $4.33 billion, which makes it the third-highest total of the post-PASPA era behind March and January of this year. Tennessee, Illinois, and newcomer Arizona have yet to release their respective reports, with each offering some intrigue.

It will mark the first September report for the Volunteer State, which began accepting wagers last November and offers a like-for-like comparison with Virginia as a digital-only state. Illinois, which will likely be the state that officially makes it a $5 billion September based on the usual timing of its releases, could make a run at its record March handle of $633.6 million, given the popularity of the Chicago Bears.

Arizona’s first revenue numbers are eagerly anticipated considering GeoComply’s report released in early October showed the state ranked fourth nationally in NFL wagering transactions over the first four weeks of the season.

ShareTweetShare
Chris Altruda

Chris Altruda

Chris Altruda has been a sportswriter with ESPN, The Associated Press, and STATS over more than two decades. He recently expanded into covering sports betting and gambling around the Midwest. His Twitter handle is @AlTruda73 and can be reached via email at caltruda@bettercollective.com

Related Posts

(Photo by Mitchell Leff/Getty Images)
Promotions

FanDuel Promo Code: $3K No Sweat First Bet for Any Patrick Mahomes Super Bowl LVII Props

February 7, 2023
texas-rangers-leaving-dugout
Legislation

Latest Texas Bills Call For Digital Wagering Only Via Pro Sports Franchises

February 7, 2023
Load More

Top Stories

fanduel-retail-sportsbook-front

Requiem For The So-Called ‘Risk-Free Bet’

February 2, 2023
garnett mgm springfield

Sports Betting Launches In Massachusetts, Giving Three Retail Books A Head Start

January 31, 2023
springfield thunderbirds betmgm opening

What’s Next For BetMGM As Entain Nears End Of Commitment To U.S. Joint Venture?

February 3, 2023
anthony-grant-coaching

Regulators, Colleges Grapple With Impact Of Angry Online Gamblers

February 6, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
February 2, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
February 7, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
October 20, 2022

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

gambling therapy
ncpg
igaming ontario
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (MI/NJ/OH/PA/WV), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN).
19+. Please play responsibly. Terms and conditions apply. 
Individuals must be 19 years of age or older to participate in igaming in Ontario. Gambling can be addictive, please play responsibly. If you, or someone you know, has a gambling problem in Ontario and wants help, please visit ConnexOntario or call their helpline at 1-866-531-2600. Operators on this website operate pursuant to an Operating Agreement with iGaming Ontario.

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News

loading

Please wait while you are redirected to the right page...

Please share your location to continue.

Check our help guide for more info.

share your location