The Virginia Lottery announced that it saw a 15% drop in sports betting revenue in February, totaling $433.8 million.
According to a report by the Bristol Herald Courier, this marks the first time the state has not exceeded $500 million in betting in four consecutive months, despite taking in $30 million more in betting than it did in February 2022.
Super Bowl LVII accounted for 7.4% of total sports betting
State residents bet an average of $15.5 million per day, with Super Bowl LVII accounting for 7.4% of total bets and generating $32.3 million during the event.
However, half of the promotional deductions were reported in Virginia for the Super Bowl compared to the total amount of $15.8 million offered last year.
Mobile and online sports betting accounted for $430 million in sports betting, while Bristol Casino and Rivers Casino Portsmouth accepted $3.6 million in bets.
Gross winnings in Virginia totaled $394 million, with $3.46 million coming from casinos. Virginia is one of the few US states where residents themselves vote on whether land-based casinos should be built or not, with four cities voting in favor of them.
In a report published in March, Virginia reported total gaming revenue of $38.4 million for Hard Rock Hotel & Casino Bristol and Rivers Casino Portsmouth. Two more casinos, Caesars Virginia in Danville and HeadWaters Resort & Casino in Norfolk, are due to open in 2024.
The state of Virginia will receive $4.68 million in tax from sports betting revenue, compared to the $6.3 million it received in January.
About the Virginia Lottery
The Virginia Lottery is an independent agency of the Commonwealth of Virginia. It was created in 1987, when residents of the region voted in a referendum in favor of a state lottery. The first ticket was sold on September 20, 1988.
