Virginia bettors rang up the highest one-month total wagering handle in state history during October, betting more than $528.02 million.
That represents a 23% increase over last October and an average of more than $17 million per day, according to the Virginia Lottery, which reported monthly figures Thursday. In addition, bettors won $476.8 million, which is also a single-month record.
“October was a record-breaking month for Virginia,” BetVirginia.com gaming analyst Dru James said in a written statement. “Handle was nearly $530M, the highest it’s been since January 2022’s $485M record and the state’s first time hitting the half-billion-dollar milestone. This indicates that the Virginia market still has a great deal of potential for growth and can expect continued gains into the new year.”
Virginia’s 13 licensed operators reported adjusted gross revenues of $45.5 million, down from September’s record $48.3 million. The state reported more than $5 million in deductions, bonuses and other adjustments.
- Emory & Henry sports complex on schedule to open Aug. 1
- Virginia governor signs 'permissive, cutting-edge' NIL bill
- Go on an epic musical journey with a fiery performance featuring the songs of Johnny Cash
- PREP VOLLEYBALL: Jason Delp takes over as head coach at Holston
- THURSDAY'S PREP ROUNDUP: Kaelyn Dales (Wise County Central), Abby Haga (Tennessee High), Ava Rose (Council), Jordan Mooney (J.I. Burton), Kam Beavers (Honaker), Judge Dillow (Abingdon) among those with prime performances
- PREP BASKETBALL: Brian Looney steps down after eight seasons as Grundy's boys hoops coach; Interim tag removed from Mike Collins as leader of Lee High's boys; Allen Trent resigns at Thomas Walker
- PREP SOFTBALL: Hood's homers, Stanley's sprint help Rye Cove improve to 10-0 with win over Eastside Spartans
- PREP BASEBALL: Humphreys pitches, Reed homers as Abingdon Falcons edge Gate City, 3-0
- PREP BASEBALL: Lebanon powers past Richlands in meeting of Southwest District leaders
- FRIDAY'S PREP ROUNDUP: Jordan Mooney (J.I. Burton), Noah Bandrimer (Rural Retreat), Anna Summers and Jared Glovier (Castlewood), Olivia Ashbrook (Sullivan East), Ollie Foy (Virginia High) among standouts
- TUESDAY'S PREP ROUNDUP: Patrick Henry soccer, baseball, softball teams all won; Mary Katherine Wilson (Virginia High), Hailey Branscomb (Abingdon), Chloe Wells (Wise Central), Taylor Childress (John Battle), Caiti Hill (Ridgeview), Dawson Kern (Rye Cove), Nelson Arcia-Arce (Marion), Ben Kilbourne (Chilhowie), Justin Weaver (Grundy), Xavier Sawyer (Twin Springs), among many, many stars
- MONDAY'S PREP ROUNDUP: Tennessee High clinches Upper Lakes Conference baseball title; Tucker Fontaine (Rural Retreat), Braelyn Scammell (Patrick Henry), Jed McCoy (Eastside), Kaden Hicks (Sullivan East), Jaylynn Harris (Lebanon), Leya Vanover (Twin Valley), Nicholas McReynolds (Abingdon) among multitude of stars
- PREP BASEBALL: John Battle earns another win as Landon Odum continues to shine
- The Big Bad Wolf Coffee House opens in Bristol
- PREP SOFTBALL: Arin Rife continues her domination tour for Richlands with win over Marion
“Despite month-over-month losses, sports betting revenue and taxes both are seeing exponential gains since last year. This, too, demonstrates that Virginians will continue to see long-term sustained growth and that the market is headed for maturity and parity with its peers,” James said.
Virginians have wagered more than $3.3 billion thus far in 2022. Regulated sports wagering began in Virginia in January 2021.
“One thing to note, however, is that the recent launch of mobile sports betting in neighboring Maryland may cause some short-term disruption in wagers placed, though the effects of this may not become apparent until December, or even January.”
All that activity generated nearly $7 million in state tax revenues. State law places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue.
dmcgee@bristolnews.com — Twitter: @DMcGeeBHC