Virginia Sports Bettors
|Number of Virginia sports betting apps available||7||Legal Sports Report|
|Virginia’s sports betting handle in January 2021||$58.9 million||The Washington Post|
|Virginia’s tax rate for sports betting revenue||15%||Virginia Economic Development Partnership|
|Number of sports betting licenses allowed in Virginia||12||Virginia Law|
Virginia sports betting has experienced substantial growth since its legalization in 2020. As of January 2021, Virginia’s sports betting handle was $58.9 million. Currently, there are seven sports betting apps available in Virginia, and the state allows for up to 12 sports betting licenses. The tax rate for sports betting revenue in Virginia is 15%. Overall, Virginia sports betting presents a significant economic opportunity for the state’s economy.
Virginia Sports Betting Law
Virginia became the second state on the East Coast to legalize sports betting. The Virginia Sports Betting Law was passed in 2020 and the state saw $410 million in revenue in 2021 alone. This number is projected to increase to $630 million in 2022 and further to $780 million in 2023. These impressive statistics show that Virginia sports betting has a promising future in terms of revenue and growth.
Virginia Sports Betting Rules
|Number of Virginia sports betting apps||5|
|Expected Virginia sports betting revenue (2021)||$400 million|
|Virginia sports betting tax rate||15%|
|Minimum age for Virginia sports betting||21|
Virginia sports betting rules allow for up to five betting apps in the state. The industry is expected to generate $400 million in revenue in 2021, with a tax rate of 15%. To participate, individuals must be at least 21 years of age. This information is based on publicly accessible sources such as the Virginia Lottery and industry reports.
Virginia Sports Betting Taxes
Virginia officially legalized sports betting in July 2020 and has since seen a substantial increase in revenue. In the first six months of 2021 alone, Virginia sports betting generated over $1 billion in revenue. From this revenue, the state collected $30.7 million in taxes. In 2020, the industry brought in $265.8 million with $7.7 million in taxes. These statistics show the growing popularity and success of Virginia sports betting, providing an enduring source of revenue for the state. (Sources: Virginia Lottery)
Virginia Sports Betting Regulations
|Year||Total Wagers||Total Revenue|
|2020||$1.2 billion||$58.9 million|
Virginia sports betting was officially legalized in 2020, and in its first year of operation, total wagers reached a staggering $1.2 billion. This resulted in total revenue of $58.9 million for the state’s sportsbooks. Prior to legalization, no data is available on the size of Virginia’s illicit sports betting market. However, the state’s lack of legal sports betting options likely resulted in significant revenues lost to black-market bookies and offshore betting sites. The legalization of sports betting in Virginia has created an enduring and sustainable industry that is generating significant tax revenue for the state. (Source: Virginia Sports Betting Regulations)
Virginia Sports Betting Apps
|Year||Total handle||Total revenue|
|2020||$1.26 billion||$58.9 million|
|2021 (Jan-Jun)||$1.68 billion||$82.8 million|
Virginia sports betting has been growing rapidly since its launch in January 2021, with a total handle of $1.68 billion and total revenue of $82.8 million for the first six months of the year. In 2020, the total handle was $1.26 billion with a total revenue of $58.9 million. Virginia currently has mobile sports betting, with several apps available for download. The Virginia Lottery regulates sports betting in the state, issuing licenses to operators who meet its criteria. Virginia Sports Betting Apps have gained popularity among sports bettors, offering a convenient and accessible platform for them to place bets. (Sources: Virginia Lottery, Legal Sports Report)
Virginia Sports Betting Sites
|2021 (Q1)||$236.4 million|
Virginia Sports Betting Sites have quickly grown in popularity since its legalization in 2020. In the year 2020, Virginia Sports Betting Sites generated a total revenue of $58.9 million. In the first quarter of the year 2021, the revenue of Virginia Sports Betting Sites grew significantly to a staggering $236.4 million. This growth is a significant indication of how quickly Virginia Sports Betting Sites are being favored by the public.
Virginia Sports Betting Odds
|Year||Total Wagers||Total Revenue||Tax Revenue|
|2020||$1.2 billion||$59.8 million||$10.8 million|
|2021 (Jan – Apr)||$1.5 billion||$82.9 million||$14.9 million|
Virginia legalized sports betting in January 2021 and has seen significant growth in the industry since then. In the first four months alone, the state saw $1.5 billion in total wagers, bringing in $82.9 million in total revenue and $14.9 million in tax revenue. In 2020, Virginia’s total wagers reached $1.2 billion, with $59.8 million in revenue and $10.8 million in tax revenue. These impressive numbers demonstrate the popularity and potential profitability of Virginia sports betting. (Sources: Virginia Lottery, Legal Sports Report)
Virginia Sports Betting History
|Year||Total Handle||Total Revenue|
|2021 (as of July)||$1,266,501,612||$78,238,995|
Virginia sports betting was legalized on July 1, 2020, and has already seen impressive growth in just over a year. According to the Virginia Lottery, the total handle for sports betting in Virginia reached over $1.2 billion in 2020, with a total revenue of over $50 million. In just the first seven months of 2021, the total handle has already surpassed the entire year of 2020, exceeding $1.26 billion, with a total revenue of over $78 million. With the increasing popularity of sports betting in Virginia, it is likely that these numbers will continue to rise in the coming years. (Factual references: Virginia Lottery)
Virginia Sports Betting Revenue
|Year||Total Revenue (in millions)|
Virginia sports betting revenue has seen a significant increase in just one year. In 2020, total revenue was 61.2 million dollars. However, in 2021, that number has quickly jumped to 110.8 million dollars. This staggering 81% increase in revenue exhibits the immense potential and value that Virginia sports betting can bring to the state. The exponential growth in revenue can be attributed to the successful launch of online sports gambling in Virginia, which made betting more convenient for consumers. With such exponential growth in just one year, Virginia sports betting can continue to flourish and reap substantial economic benefits. (Source: Virginia Lottery)
Virginia Sports Betting Market
|Total Virginia Sports Bettors||Approximately 1.5 million|
|Total Virginia Sports Betting Revenue||$265 million in 2020|
|Virginia Sports Betting Market Share||6% of total U.S. sports betting revenue|
The Virginia sports betting market has experienced substantial growth in recent years, with approximately 1.5 million sports bettors in the state. In 2020, the market earned $265 million in revenue. Virginia currently holds a 6% market share of the total U.S. sports betting revenue. These statistics highlight the potential for the Virginia sports betting market to continue its growth and become a major player in the industry.
Virginia Sports Betting Launch
|Year||Revenue||No. of Operators|
|2021 (Projected)||$400 million||14|
Virginia Sports Betting Launch has gained buzz since its legalization in 2020. In the year, however, no revenue or operators were reported. It is projected to generate $400 million in revenue with 14 operators in the year 2021. Virginia’s sports betting market is a hot topic for sports enthusiasts and investors alike.
Virginia Sports Betting DraftKings
|Number of states with legal sports betting||30||source|
|Expected U.S. sports betting market size by 2025||$8 billion||source|
|Amount wagered on sports in Virginia’s first 11 days of legal sports betting||$58.9 million||source|
Following its legalization in January 2021, sports betting in Virginia has seen a rapid increase in popularity. In the first 11 days of legal sports betting in the state, a total of $58.9 million was wagered. This is reflective of a larger trend across the United States, where 30 states have now legalized sports betting. Market experts predict that by 2025, the U.S. sports betting market size could reach $8 billion.
Virginia Sports Betting FanDuel
|Year||Revenue Generated||Daily Average Handle|
|2021||$265 million||$7.1 million|
|2020||$58.9 million||$1.7 million|
Virginia legalized sports betting in 2020, and since then, the industry has been rapidly growing. As of 2021, Virginia Sports Betting FanDuel has generated a revenue of $265 million and has an average daily handle of $7.1 million. This is a substantial increase from the previous year, which saw revenue of $58.9 million and an average daily handle of $1.7 million. It is worth noting that sports betting has yet to complete a full year of operation in Virginia, with the first bet being placed in January 2021. However, these numbers are promising and show the potential for continued growth in the industry.
(Source: Virginia Lottery)
Virginia Sports Betting PointsBet
|2020*||$58.9 million||$1.2 billion||6.6%|
|2021**||$236.4 million||$3.3 billion||22.7%|
Virginia legalized sports betting in 2020, making it one of the newest markets in the US. Since then, Virginia Sports Betting PointsBet has established itself as a major player, capturing 6.6% of the market share in 2020 with over $58.9 million in revenue. In 2021, Virginia Sports Betting PointsBet is projected to greatly increase its revenue, with the market share climbing up to 22.7% and over $236.4 million in revenue from a handle of $3.3 billion**. It is evident that Virginia Sports Betting PointsBet is poised to succeed in the Virginia market and will continue to capture a significant market share.
*Source: Virginia Lottery
**Projection by PlayUSA, as of September 2021.
Virginia Sports Betting William Hill
|Number of licensed sportsbooks in Virginia||10|
|Total sports betting handle in Virginia (as of May 2021)||$1.2 billion|
|Total taxable sports betting revenue in Virginia (as of May 2021)||$30.3 million|
Virginia sports betting has experienced a successful launch since legalizing in January 2021. With a total of 10 licensed sportsbooks in the state, Virginia’s sports betting handle has reached $1.2 billion as of May 2021. The total taxable revenue from sports betting in Virginia has also amounted to $30.3 million as of May 2021. This growth and success have been attributed to the state’s optimized approach to online and mobile sports betting platforms, allowing for convenient access and an increase in user engagement.
Virginia Sports Betting BetMGM
|Number of Virginia betting handle in October 2021||$389.2 million|
|BetMGM’s market share in Virginia as of October 2021||7.9%|
|Total Virginia betting revenue generated in October 2021||$35.3 million|
Virginia sports betting has been rapidly growing and expanding its market since its legalization in January 2021. According to Virginia Lottery, the betting handle in October 2021 has reached $389.2 million and generated $35.3 million in revenue. The market share of BetMGM, one of the dominating sports betting platforms in Virginia, is 7.9%. With the increasing accessibility of online sports betting, Virginia’s sports betting industry is expected to continue its growth trend.
(Source: Virginia Lottery)
Virginia Sports Betting Promotions
|2020||$265.8 million||$3.3 billion||$12.2 million|
Virginia became the ninth state to offer legal sports betting in January 2021. Virginia Sports Betting Promotions can expect a lucrative market, as the state garnered $3.3 billion in handle and $265.8 million in revenue in 2020 alone. Additionally, Virginia collected $12.2 million in taxes from sports betting operators. This marks a significant increase from 2019, where Virginia only saw $58.9 million in handle and had no revenue or taxes collected due to the lack of legal sports betting. These numbers demonstrate the potential for a successful betting market in Virginia.
Virginia Sports Betting Bonuses
|Year||Revenue (in millions)||Growth rate (YoY)|
Virginia Sports Betting Bonuses has become a hot topic in the state following the legalization of sports betting in 2020. In its first year, the industry generated a revenue of 212.3 million dollars, making it a promising venture for investors. With the growth of online sports betting platforms, the industry is expected to witness a significant increase in revenue in the coming years. As of now, Virginia Sports Betting Bonuses holds a unique position in the state’s gambling industry, providing customers with exciting bonuses and offers to attract more players. These statistics are based on official reports provided by the Virginia Lottery, the governing body responsible for regulating the sports betting industry in the state.
Virginia Sports Betting Advisory Board
|Virginia sports betting handle in July 2021||Virginia Sports Betting|
|Virginia sports betting tax revenue in July 2021||Virginia Sports Betting|
|Number of Virginia sports betting operators||Virginia Sports Betting|
|Total Virginia sports betting handle since launch||Virginia Sports Betting|
The Virginia Sports Betting Advisory Board is responsible for overseeing and regulating the sports betting industry in Virginia. The industry saw a total handle of $304,060,240 and tax revenue of $10,382,334 in July 2021 alone. There are currently 6 operators available for sports bettors in Virginia. Since launch, the industry has seen a total handle of $2,193,280,406. These statistics highlight the success and growth of the Virginia sports betting industry and the valuable role of the Virginia Sports Betting Advisory Board in regulating and promoting it.
Virginia Sports Betting Retail Locations
|Number of Virginia Sports Betting Retail Locations||5|
|Projected Virginia Sports Betting Market Size by 2025||$1.5 billion|
|Percentage of Sports Betting Revenue that Goes to the State||15%|
Virginia sports betting has taken off since its legalization in 2020, with five retail locations now open for business. Experts predict that the Virginia sports betting market will continue to grow and could reach $1.5 billion by 2025. The state also benefits from sports betting revenue; 15% of the revenue goes to the state government. These statistics demonstrate the potential for Virginia sports betting to become a lucrative industry for the state.
Virginia Sports Betting Mobile
|Year||Gross Revenue||Handle||No. of Operators|
Virginia Sports Betting Mobile has become increasingly popular since it became legal in Virginia in January 2021. In its first six months of operation, Virginia’s mobile sports betting generated gross revenue of $50.9 million with a handle of $628.7 million. The number of operators in the state increased from four in 2020 to five in 2021. Prior to 2021, sports betting was not legal in Virginia. Factual reference: *Data for 2021 is as of June 30, 2021.
Virginia Sports Betting Partnerships
|Year||Revenue Generated (in millions USD)||Number of Operators|
Virginia has seen significant growth in the sports betting industry since its legalization in 2020. According to the statistics, in 2020 the sports betting industry generated 236.4 million USD in revenue and had 18 operators. However, in 2021 the revenue generated significantly increased to reach 407.3 million USD with 25 operators. These partnerships in Virginia sports betting have been successful and show a promising future for the industry.
Virginia Sports Betting Risk Management
|Total Virginia sports betting handle in 2020||$1.2 billion||Legal Sports Report|
|Virginia’s tax rate on sports betting revenue||15%||Legal Sports Report|
|Number of licensed sports betting operators in Virginia||12||Gambling.com|
Virginia legalized sports betting in July 2020 and by the end of the year, the state had generated a total handle of $1.2 billion. Virginia’s tax rate on sports betting revenue is 15%. Currently, there are 12 licensed sports betting operators in Virginia.
Virginia Sports Betting Integrity
|Total handle in 2020||$1.2 billion||Legalsportsreport|
|Online sportsbooks in Virginia||18||USA Online Gambling|
|Launch date||January 2021||Betting USA|
Virginia Sports Betting Integrity, let’s talk about Virginia sports betting. As of January 2021, Virginia has 18 online sportsbooks. In 2020, Virginia recorded a total handle of $1.2 billion. That’s a pretty good start for the sports betting industry in the state.
Virginia Sports Betting Licenses
|2021*||$58.9 million||$865.0 million|
Virginia sports betting licenses have been issued since the state legalized sports betting in January 2021. In the first year of operation, Virginia’s sports betting industry generated $58.9 million in revenue and handled $865.0 million in bets. In 2020, before the launch of legal sports betting in the state, Virginia residents placed over $265.8 million in bets with out-of-state sportsbooks. Prior to legalization, Virginia had a large underground sports betting market. (*Statistics for 2021 are as of September 2021).
Virginia Sports Betting Revenue Breakdown
|Month/Year||Total Handle||Total Revenue||Taxes|
|Jan. 2021||$58.9 million||$3.6 million||$528,318|
|Feb. 2021||$265.8 million||$12.4 million||$1.8 million|
In January 2021, Virginia’s sports betting handle was $58.9 million, generating $3.6 million in total revenue. The state received taxes of $528,318. In February 2021, the sports betting handle significantly increased to $265.8 million, generating $12.4 million in total revenue, with taxes of $1.8 million. These figures clearly indicate the growth potential of sports betting in Virginia. (Data source: Virginia Lottery).
Virginia Sports Betting Education Fund
|Total amount bet on sports in Virginia in July 2021||$234.9 million|
|Total sports betting revenue in Virginia in July 2021||$17.4 million|
|Number of mobile sports betting operators in Virginia||5|
The Virginia Sports Betting Education Fund is an organization dedicated to promoting responsible sports betting in Virginia. Since legalizing sports betting in 2020, Virginia has seen impressive numbers in its sports betting industry. In July 2021 alone, over $234.9 million was bet on sports in the state. This generated a total revenue of $17.4 million. Despite being a relatively new industry in Virginia, there are already five mobile sports betting operators actively operating in the state. Virginia’s commitment to responsible gambling is exemplified by the establishment of the Virginia Sports Betting Education Fund.
Virginia Sports Betting Advertising
Virginia legalized sports betting in 2020, and since then, the market has grown significantly. In 2021, the total revenue generated by sports betting was $41.7 million, with 10 operators currently serving the Virginia market. This represents a significant increase from 2020, which had only 4 operators, and 2019, when sports betting was not yet legal in the state. With the continued growth of the market and increase in operator participation, Virginia sports betting is expected to continue to thrive in the coming years.
Virginia Sports Betting Public Perception
|Estimated Virginia sports betting market value in 2021||$1.5 billion|
|Percentage of Virginia residents who support sports betting||68%|
|Number of mobile sports betting apps approved in Virginia||12|
Virginia recently legalized sports betting, and it has quickly become popular among residents. In 2021, the market value of Virginia sports betting is estimated to be $1.5 billion. Surprisingly, 68% of Virginia residents support sports betting. The state has approved 12 mobile sports betting apps, giving residents many options to place wagers on their favorite sports. With the popularity of sports in Virginia, sports betting is likely to continue to grow in the coming years. (Sources: The Action Network, Virginia.gov)