The Virginia Lottery has published its monthly sports wagering activity report containing figures submitted by licensed operators in the state
The Old Dominion State Lottery has published its monthly sports wagering activity cover containing figures submitted past licensed operators in the state.
In May 2022, operators recognized a number of $351.4m inward wagers from Virginian gamblers, a 55% ascend from May 2021 when just now sevener licensed operators were dynamic inwards the region.
As sports betting continues to reckon ontogenesis inward Virginia, the state now hosts 14 licensed operators. From 1 May to 31 May, bettors wagered a combined total of $5.3bn on a range of different sporting events, winning a add of $308.9m with a 12.10% operator's win percentage.
Virginia country law stipulates a 15% revenue enhancement on sports betting activity, strung-out on apiece licence holder's familiarised receipts revenue (AGR), defined as “total wagers minus tot win and other authorised deductions.”
State legislating permits operators to deduct “certain client acquisition costs” from their AGR, with some licence holders reporting almost $10m inwards bonuses and free-play offers for May 2022. The summate AGR for the month stood at $27.5m.
Legislation requires 98% of task on AGR to follow paid into the state’s superior general fund, with 3% to be paid into the Old Dominion State Department of Behavioral Health’s Problem Gambling Treatment and Support Fund.
Net prescribed AGR was reported past quint operators for May 2022, leading to $3.9m inward tax payments, $3.8m of which went into the General Fund and $97,406 into the Problem Gambling Treatment and Support Fund.
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