PORTSMOUTH, Va. (WAVY) — Virginia Lottery says the dip in betting remained consistent across the country in a new wagering activity report.
Throughout the whole month of July, Virginia residents wagered a total of $161,901,955, a 31% drop compared to June, Virginia Lottery officials say. It’s been six months since legal sports betting launched in the Commonwealth.
Virginians also won a total of $141,936,399. State law places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue (AGR) which is the as total wagers minus total winnings and other authorized deductions. The total AGR for July is $12,691,020.
Local operators can deduct certain customer acquisition costs from AGR and reported nearly $4.4 million in bonuses and free-play incentives for the whole month.