{"id":820386,"date":"2025-01-16T10:12:53","date_gmt":"2025-01-16T16:12:53","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/16\/virginia-sports-betting-hits-record-696m-in-october\/"},"modified":"2025-01-16T10:12:53","modified_gmt":"2025-01-16T16:12:53","slug":"virginia-sports-betting-hits-record-696m-in-october","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/16\/virginia-sports-betting-hits-record-696m-in-october\/","title":{"rendered":"Virginia Sports Betting Hits Record $696M in October"},"content":{"rendered":"<section>\n<p><em><strong>Virginia\u2019s sports betting handle reached a record $696.1 million (\u00a3549.3 million\/\u20ac659.6 million) in October.<\/strong><\/em><\/p>\n<p><span>Despite this, a year-on-year drop in adjusted gross revenue shows that player-friendly NFL outcomes are beginning to impact operators\u2019 performance. October\u2019s handle was 21.8% higher than the $571.4 million wagered in the same month last year in Virginia. According to <a href=\"https:\/\/www.valottery.com\/winnersnews\/latestwinners?itemId=%7B91F87874-BA12-4360-9B26-42839BFB806E%7D\" target=\"_blank\" rel=\"nofollow noopener\">Virginia Lottery reports<\/a>, it also exceeded September\u2019s $622.1 million handle by 11.9%.<\/span><\/p>\n<p><span>Virginia\u2019s January record of $652.9 million was surpassed in October by 6.6%. Online betting contributed $692.2 million, while retail added $3.9 million.<\/span><\/p>\n<h3><strong>October hold rate reached 7.04%<\/strong><\/h3>\n<p><span>October\u2019s adjusted gross revenue (AGR) was $49.0 million, which showed a 13.1% decline year-on-year and 25.6% below September\u2019s $65.9 million. Online accounted for $48.8 million, and retail brought in $232,925. The Virginia Lottery doesn\u2019t release detailed operator stats, but 11 mobile operators and three casinos reported positive AGR. The hold rate dropped to 7.04% overall, with online at 7.05% and retail at 5.93%, compared to 11.5% in September and 11.2% last October.<\/span><\/p>\n<p><span>This follows reports from operators, including DraftKings, that highlighted how early Q4 NFL outcomes favored customers. In November, the 15% AGR tax on sports betting generated $7.3 million, with 97.5% allocated to the state\u2019s General Fund, and 2.5% directed to the Problem Gambling Treatment and Support Fund.<\/span><\/p>\n<\/section>\n<p> ani <br \/><a href=\"https:\/\/www.thegamblest.com\/virginia-sports-betting-hits-record-696m-in-october\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Virginia\u2019s sports betting handle reached a record $696.1 million (\u00a3549.3 million\/\u20ac659.6 million) in October. Despite this, a year-on-year drop in adjusted gross revenue shows that player-friendly NFL outcomes are beginning to impact operators\u2019 performance. October\u2019s handle was 21.8% higher than the $571.4 million wagered in the same month last year in Virginia. According to Virginia<\/p>\n","protected":false},"author":1,"featured_media":820387,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[192,4825],"tags":[6810,10841],"class_list":{"0":"post-820386","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sports","8":"category-virginia","9":"tag-sports","10":"tag-virginia"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/820386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=820386"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/820386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/820387"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=820386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=820386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=820386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}