{"id":102055,"date":"2023-04-04T10:41:28","date_gmt":"2023-04-04T13:41:28","guid":{"rendered":"https:\/\/igamingbrazil.com\/uncategorized\/2023\/04\/04\/sports-betting-in-virginia-posts-15-drop-in-february\/"},"modified":"2023-04-04T10:42:58","modified_gmt":"2023-04-04T13:42:58","slug":"sports-betting-in-virginia-posts-15-drop-in-february","status":"publish","type":"post","link":"https:\/\/igamingbrazil.com\/en\/sports-betting-en\/2023\/04\/04\/sports-betting-in-virginia-posts-15-drop-in-february\/","title":{"rendered":"Sports betting in Virginia posts 15% drop in February"},"content":{"rendered":"\n

The Virginia Lottery announced that it saw a 15% drop in sports betting<\/a><\/strong> revenue in February, totaling $433.8 million.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Super Bowl LVII accounted for 7.4% of total sports betting<\/h2>\n\n\n\n

State residents bet an average of $15.5 million per day, with Super Bowl LVII <\/a>accounting for 7.4% of total bets and generating $32.3 million during the event.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Mobile and online sports betting<\/a> accounted for $430 million in sports betting<\/a>, while Bristol Casino<\/a> and Rivers Casino<\/a> Portsmouth accepted $3.6 million in bets.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

In a report published in March, Virginia reported total gaming revenue of $38.4 million for Hard Rock Hotel & Casino<\/a> Bristol and Rivers Casino Portsmouth. Two more casinos, Caesars Virginia in Danville and HeadWaters Resort & Casino in Norfolk, are due to open in 2024.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

About the Virginia Lottery<\/h3>\n\n\n\n

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.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Virginia Lottery announced that it saw a 15% drop in sports betting revenue in February, totaling $433.8 million. 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