The Virginia Lottery reported'on Friday gross operator sports wagering revenue of $39.8 million for February, the first time the figure was below $40 million since August.
The 20% drop in revenue from January was not surprising, as handle is normally lighter in February due to it being a short month and the Super Bowl being the only NFL action. Operators did have a solid win rate, posting a hold of 9.2% as they collectively surpassed 9% for the 11th time in the last 12 months.'The Virginia Lottery did not disclose specific Super Bowl figures.
The $433.8 million handle for the month represented a 15.5% decline from January and ended a run of four straight months with at least $500 million in accepted wagers. February’s handle, though, was enough to make Virginia the ninth state to surpass $9 billion total handle in the post-PASPA era and represented an increase of 7.9% compared to February 2022.