In January, sports betting in Virginia exceeded $730 million, according to a report from Gaming Intelligence. The data revealed that a total of $731.1 million was wagered on sports events in the state, with football being the most popular sport for betting. The state’s online betting market saw a significant increase in activity, with nearly 98% of bets being placed through online platforms.
The report highlighted that the Virginia sports betting market continues to grow, with operators reporting an increase in both handle and revenue compared to the previous month. The state collected over $8.8 million in taxes from sports betting operators in January, representing a notable source of revenue for the government.
This growth in sports betting in Virginia can be attributed to the increasing popularity of online betting platforms, as well as the expansion of the state’s legal gambling market. With more states legalizing sports betting, Virginia is poised to continue its upward trend in the industry.
The report also noted that several major sports events in January, such as the NFL playoffs and college basketball games, contributed to the surge in betting activity. As more sports events return to normal schedules following the disruptions caused by the COVID-19 pandemic, the sports betting market in Virginia is expected to grow even further.
Overall, the data from Gaming Intelligence underscores the growing importance of sports betting in Virginia as a significant revenue source and highlights the state’s potential for continued expansion in the industry.
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