Last updated on May 30th, 2021 at 08:34 am
Virginia sports betting handle dropped month-on-month since its launch in January, proceeding with a trend of reduced wagering handle in the US. The decrease in April betting to under $240 million was normal, a result of a slower sports schedule in spring and summer, according to Bwager.com Betting Software.
According to a sports betting platform analyst, April is the last slow month for sports betting. In the United States, April doesn’t offer any replacement for the NCAA basketball tournament and the NFL. The slowdown of sports betting will last until the start of the NFL season.
Virginia sportsbooks pulled in $236 million in wagers in April. That is down 22.2 percent from $304 million in March. Also, it was the lowest handle in a month for the state. With no significant games occasion to spike interest, sportsbooks got almost $8 million daily in April, down from nearly $10 million in March.
Virginia Sports Betting Handle
Sportsbooks won $19 million on April’s wagers, down from almost $27 million in March. The winnings led to $11 million in adjusted gross revenue. However, it was down from $14 million. The good news is that it earned a higher gross income than the previous month. Sportsbooks paid $1.7 million in taxes.
Each state with lawful games wagering has revealed a month-on-month decrease in April betting. Of the most significant US sports wagering markets that have effectively announced April information, Indiana, Iowa, and Michigan suffered more month-on-month declines than Virginia. New Jersey, Tennessee, Pennsylvania, and Colorado performed better.
Presently with $865 million in betting since its launch in January, Virginia is yet on the slope of turning into the fastest state to achieve the $1 billion milestone. Tennessee currently holds the record by reaching the milestone six months after its launch. If Virginia can get at least $135 million in wagers in May, it will achieve the milestone in five months. Thus, many people want to become an online bookie in the state.
