Virginia Sports Betting Handle Erupts In First 11 Days

• Virginia rakes in almost $58.9 million in wagers in just 11 days of activity.
• The state also saw over $3.2 million in revenue.
• More sportsbooks are expected to launch with new bills making it to the governor’s desk.

RICHMOND, Va. – Sports betting in Virginia may have only been active for 11 days in January, but the state still managed to see major success.

The newly launched sports betting market has raked in strong numbers, and it seems this could increase with bills for potential sports betting expansion on the horizon.

A bulk of the wagers could be attributed to those betting on the Super Bowl towards the end of the month. Virginia was working to launch sports betting before the Big Game.

Virginia Sports Betting Strong Start

Sports betting in Virginia wasted no time and betting fans eagerly wagered on their favorite sports. The first 11 days raked in $58,896,564 in betting handle according to the Virginia Lottery report.

Sportsbooks collected $3,235,612 in sports betting revenue with the state seeing $39,710.31 in total tax generated.

Sports betting fans had access to FanDuel first as the sportsbook has a partnership with the Washington Football Team. Virginia law prioritizes sportsbooks that are allied with local teams.

Following suit, DraftKings and BetMGM were able to offer sports betting with William Hill expected to launch next.

More sportsbooks are expected to launch in Virginia, as new bills have passed that would expand the operator limit in Virginia.

Governor Ralph Northam will have two sports betting bills to review. The bills will allow land-based casino operations with mobile sportsbooks to not count against the cap for mobile sportsbooks in the state. The cap is currently 12 mobile-only licenses total.

If one of the new bills passes, then Virginia would be able to host a total of 18 licensed mobile operations, giving even more options to the Birthplace of a Nation.

Virginia’s early success is a good sign of things to come. The legal sports betting will not have more time to account for going forward, meaning the single-month betting handle won’t truly be understood until February’s reports are released.

News tags: BetMGM | DraftKings | FanDuel | Ralph Northam | Revenue | Virginia | Virginia Lottery Sports Betting | William Hill