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Virginia Lottery releases record numbers for August

5 Oct 2022

(PRESS RELEASE) -- The Virginia Lottery released its report on sports wagering activity submitted by licensed operators for the month of August 2022.

Between 1 August and 31 August 31, Virginians wagered $284,671,331 ("handle") through 13 licensed operators, 56% higher than last August when only eight operators were active.

Virginia bettors won a total of $247,692,434 for a combined 12.99% operators win percentage ("hold"). Regulated sports wagering began in Virginia in January 2021.

State law places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue, which is defined as total wagers minus total winnings and other authorized deductions.

Of the state tax on sports betting adjusted gross revenue, the statute specifies 97.5 percent is to be deposited in the state’s General Fund and 2.5 percent is to be deposited into the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health.

Nine operators reported net positive adjusted gross revenue for August, leading to $4.5 million in tax payments for the month.
 
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