From 2026e491c30bed19f4c00ac31f0da706543750ee Mon Sep 17 00:00:00 2001 From: mariloudefoor Date: Tue, 12 May 2026 15:05:02 +0000 Subject: [PATCH] Add 'Sports Betting Handle in Virginia above $300 million in August' --- ...andle-in-Virginia-above-%24300-million-in-August.md | 10 ++++++++++ 1 file changed, 10 insertions(+) create mode 100644 Sports-Betting-Handle-in-Virginia-above-%24300-million-in-August.md diff --git a/Sports-Betting-Handle-in-Virginia-above-%24300-million-in-August.md b/Sports-Betting-Handle-in-Virginia-above-%24300-million-in-August.md new file mode 100644 index 0000000..825efde --- /dev/null +++ b/Sports-Betting-Handle-in-Virginia-above-%24300-million-in-August.md @@ -0,0 +1,10 @@ +
Virginia’s [legal sports](https://git.sitenevis.com/lashaylamilami) [betting market](https://demo.pixelphotoscript.com/rhyst388306874) has made it through the dog days of summer and now bettors are increasing their action as football season starts.
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The Virginia Lottery reported that their online [sports betting](http://34.17.182.140/tahliamcconnel) sites (both mobile and retail) took in $319 million in wagers last month, a 7% jump [compared](https://boulderdigitalarts.com/forums/topic/the-bet9ja-promotional-code-this-2026-is-yohaig/) to the $293.6 million during July, Year over year action also rose as handle grew 12% versus August 2022.
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With Virginia casinos a few months old the vast majority of bets have been placed online. Specifically 99%, or $315.6 million of last months bets were placed on a phone or computer, while just $3.3 million was placed in person.
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Despite the breakdown, brick and mortar operators made their bets count, holding around 13% of the handle as adjusted profit. The online operators managed to keep a solid 10% of their bets. Both hold percentages were lower than the previous month (retail kept 23% and online kept 11%).
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The decline in hold, even though the statewide handle increased, hurt the commonwealth’s tax haul. [Operators combined](https://www.adpost4u.com/user/profile/4462487) for a $27.9 million adjusted revenue, a hair lower than July’s $28.2 million. From that revenue the final tax bill hit $4.1 million.
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Promotions oddly continue to decline
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Football season is here, a prime time for sportsbooks to entice bettors to come out of hibernation. But things are more complicated in Virginia.
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Yes, the commonwealth allows sportsbooks to deduct promotional offers from their [revenue](https://www.bluelize.com/blue-blog/turtle-journey-video-shows-ocean-degradation) but only a handful are still able to take advantage. The most popular operators, DraftKings, FanDuel, BetMGM, etc, are no longer able to deduct promos (since they launched more than a year ago). That leaves the new entrants, Bet365, Hard Rock Bet, Betfred etc, with an opening to convince bettors to use their platform.
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However, it doesn’t look like they are taking advantage.
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Promos in Virginia have been on a steady decline all year. Last month there were just $743,000 in deductions, versus $827,000 in July. The bigger platforms are still [providing bettors](http://1.95.7.1693000/laurenemxh279/the-bet-9ja-promotion-code-this-2026-is-yohaig/wiki/The-Bet9JA-promotional-code-this-2026-is-YOHAIG) with promos they just can’t write it off like last year. September’s numbers will show whether promos are here to stay in 2024 or if operators continue to cut back.
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