FanDuel Sportsbook remains the favorite of the seven live online VA sportsbooks, but it no longer takes the majority of action.
The Virginia Lottery provided its second sports betting update since sports betting in Virginia launched in mid-January. The top two positions for FanDuel and DraftKings Sportsbook are not exactly surprising considering they were the first two to launch.
The Virginia sports betting landscape has been pretty steady for the last three months despite only six months from launch. The state’s 10th sportsbook license was approved April 21 with Unibet launching a week later.
Three others approved March 15 still await launch:
- Bally Bet
- Barstool Sportsbook
- Golden Nugget
VA sportsbook leadership by handle
FanDuel Sportsbook still leads the state as it did through March, but its control has slipped slightly:
|Operator||Handle through June||Market Share through June||Market share through March||Promo spending through June||Promo spending share through June|
*Handle and promo spend by operator calculated from operator percentages and total amount provided by the Virginia Lottery, and might not be exact.
Both DraftKings and BetMGM added to their market share since March. DraftKings picked up 1.5 percentage points while BetMGM gained 2.4 percentage points.
Along with nearly doubling DraftKings’ handle, FanDuel also nearly doubled DraftKings’ promo spend to comfortably take that top spot. Interestingly, it is William Hill in third for promo spend with 16%, with BetMGM sitting in fourth at 14%.
Meanwhile, William Hill has 7.1% of handle share to show for the higher spending.
June handle ticks up
VA sportsbooks took $234.9 million in bets in June, up from $226.9 million in May, according to the totals in Wednesday’s update.
Virginia became the fastest US sports betting market to break the $1 billion threshold in handle during May.
Wednesday’s update did not include any sports betting revenue totals. Virginia should report official numbers for June around August 1.
No new VA sportsbooks yet
There are five more sports betting licenses that could be handed out in Virginia, but none were announced at Wednesday’s meeting.
The Virginia Lottery said there were 18 applicants for those up to five final licenses.
Those were approved through clean-up legislation this year to fix misunderstandings in last year’s implementation bill.