Virginians Are Gamblers

According to the latest numbers released by the Virginia Lottery as of February 1st, Virginians bet about $633 million on sports in December 2023, up 25.9% from December 2022. But December’shandle is a slight decrease… 0.88% to be exact… from November 2023, when Virginians bet $638.8 million on sports. About $625.5 million of December’s gross sports gaming revenues came from mobile operators, with the remaining $7.66 million coming from casino retail activity. Virginia places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue. With 10 operators, the month’s taxes came to approximately $8.46 million, of which 97.5% (about $8.25 million) will be deposited in the state’s general fund. The remaining roughly $211.6 million will be deposited in the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services.

Facebook Comments Box