Virginia increases sportsbook count to $ 182.4 million in August

Virginia increases sportsbook count to $ 182.4 million in August

© United States Today

Sports betting in Virginia saw a slight upturn in activity in August.

According to the latest figures from the Virginia Lottery, the state cashed in $ 182.4 million in bets, up 12.7% from July’s $ 162 million.

Virginia’s results follow a national trend in which other states are seeing bumps in sports betting with the return of college football and the NFL preseason in August. Despite the wider grip, Virginia’s adjusted gross revenue in August was $ 8.7 million, down 31.5% from $ 12.7 million in July.

The state received $ 1.4 million in sports betting taxes for August, down 26.1% from July’s $ 1.9 million, according to figures from the Virginia Lottery.

August marked the seventh month for sports betting in Virginia since the market launched on January 21. There are currently eight operators in Virginia: FanDuel, DraftKings, BetMGM, Caesars, BetRivers, WynnBET, Penn National / Barstool and Unibet.

Sports betting management and income in Virginia, August vs July

Total handle Returned Taxes
August $ 182.418 million $ 8.688M $ 1.378 M
July $ 161.902 M $ 12.691 million $ 1.864 M
Switch Up 12.7% Down 31.5% Down 26.1%

FanDuel partners with Washington football team

FanDuel Sportsbook has gained access to the state market through a sports betting partnership with the Washington football team.

The deal was announced in January. Virginia is the site of the team’s INOVA sports performance center, Richmond training camp, and team headquarters. Thanks to the agreement, at the time, Virginia became the ninth state that FanDuel entered.

“When this truly unique opportunity arose, it was natural to strategically align with our long-time partner, FanDuel, as we knew they would establish a world-class sports betting market, built on innovation and consumer protection, “Scott Shepherd, senior vice president of corporate partnerships and hospitality for the Washington football team, said in a press release. We are very excited that this groundbreaking partnership will provide our valued fans across the Commonwealth of Virginia as part of their game day experience. “

In addition to gaining access to Virginia, the deal also made FanDuel the official daily fantasy partner of the Washington football team. The FanDuel brand is also spread over FedEx Field. There is also a FanDuel section which offers unique match day experiences.

“We are honored to partner with an iconic sports franchise and plan to deliver the most fan-centric and secure mobile sports betting experience for avid sports fans in Virginia,” said FanDuel CEO , Matt King, in a press release.

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