Virginia

Growing VA Sportsbooks Hit New Milestone As New Ops Enter

VA sportsbooks passed $4 billion in handle in the market’s 13-plus months of operation since launching last January. The $4.1 billion in handle ranks eighth in US sports betting but only for a bit. Virginia sports betting will drop to ninth once the March report is in for New York. Gross revenue since launch is […] Read More

A Year After Launch, Virginia Sports Betting Continues Growth

While legislators keep the Virginia sports betting landscape relatively stable, the state turned in a record month in January. Virginia sportsbooks took a record $485.5 million in bets, according to a Virginia Lottery release Tuesday. The figure is up nearly 14% from December’s $426.6 million total. Since Virginia sports betting launched in late January 2021, sportsbooks […] Read More

Betting On Virginia Colleges With VA Sportsbooks To Stay Off-Limits

Multiple members of the Virginia House made it clear no licensed VA sportsbooks would take bets on in-state colleges anytime soon. Sen. Monty Mason‘s SB 576 was tabled as expected by the House’s General Laws Committee after 9 p.m. Thursday following a brief discussion. A companion bill by Del. Schuyler VanValkenburg met a similar quick fate in […] Read More

Promo Flow A Go For VA Sportsbooks As Bill To Limit Deductions Dies

Last week proved was positive for VA sportsbooks as their promo dollars can continue to freely flow for at least another year. HB 1103 would have put an end date on the currently unlimited promotional deductions allowed for Virginia sportsbooks. Had the bill passed, operators could only deduct promos in their first 12 months live. […] Read More

VA Sportsbooks Bill To End In-State College Ban Alive In Senate

There is still a chance that VA sportsbooks could take bets on in-state colleges, though House support seems unlikely. HB 1127 from Del. Schuyler VanValkenburg was shot down in a House General Laws subcommittee Tuesday afternoon. Sen. Monty Mason‘s companion legislation, however, advanced Wednesday. The General Laws and Technology committee reported SB 576 and referred […] Read More

VA Sportsbooks See Handle Growth In December While Revenue Falls

VA sportsbooks closed out their first calendar year with near-record handle, though revenue was hurt by customer-friendly results. Sports betting in Virginia brought in $426.6 million in bets during December. That was up 6% over November and just missed the record of $427.3 million bet in October. That is significant since many US sports betting […] Read More

VA Sportsbooks Might Become First To Lose Promo Deductions

Virginia sports bettors might have more betting markets and operating VA sportsbooks might become more expensive if two pieces of legislation pass this session. The first bill, HB 1103, would limit sportsbook operators to just 12 months of promotional deductions from taxable revenue. Right now, those deductions are allowed in perpetuity. The second issue, which […] Read More