April’s adjusted gross revenue for sports-betting reached $11.4m.
The table below displays the revenue for April:
| Month | Adjusted Gross Revenue (in millions) |
|---|---|
| April | 11.4 |
Sports-betting revenue in March was $11.4m, a decrease of 17.4% compared to the previous month.
In sports-betting, the revenue for March was $11.4 million, a decline of 6.6% compared to the $12.2 million earned in February.
Table:
| Month | Revenue (in millions) |
|---|---|
| February | $12.2 |
| March | $11.4 |
The first month of full regulation in Virginia:
- Higher betting activity
- Increased revenue for sportsbooks
- Growing customer base
- Rising interest in different sports
- Enhanced betting experience
Overall positive impact on sports betting industry.
Spending by players on sports betting decreased by 22.3%, totaling $236.4m this month.
The Virginia Lottery reported that March’s betting figures were boosted by wagering on the NCAA ‘March Madness’ college basketball tournament.
List:
- Virginia Lottery
- March’s betting figures
- Boosted by wagering
- NCAA ‘March Madness’ college basketball tournament
The April sports-betting handle was 11.1% lower than the February handle of $265.8m.
Sports bettors won $217.0m in April.
Table:
| Month | Total Winnings |
| April | $217.0m |
The state generated $1.7m in tax from sports betting in.
- Text paragraph.
- Another paragraph.
- One more paragraph.
Virginia’s tax rate for sports betting is set at 15% of adjusted gross revenue – total bets minus winnings and other authorized deductions.
Check out the full story on InnovateChange North America for the latest updates on sports betting.
Stay informed about the ever-evolving world of sports betting by visiting InnovateChange North America.
Discover exclusive insights and analysis on sports betting at InnovateChange North America.
