Among the top-line sports wagering numbers the Virginia Lottery published in its February revenue report Friday, the one that stood out the most was the $7.8 million in promotional deductions reported by operators.
It was more than 10 times the $768,221 reported for January. It was also the first time since September that the figure exceeded $1 million. Additionally, there was the mystery of who among mobile operators in the Old Dominion would be able to count promotional deductions against its gross revenue.
The Virginia Lottery does not disclose operator-specific figures in its monthly reports, but it was known that the state’s big players — FanDuel, DraftKings, and BetMGM –were not in the group that could claim such credits. The three were among seven operators that could no longer deduct promotional and bonus credits starting last July, when a budget amendment passed ahead of the start of Fiscal Year 2023 banning mobile books that had been in the state for more than 12 months from deducting promotional credits.