The Virginia Lottery reported'on Friday $293.6 million in sports wagering handle for July, making it the 10th state to surpass $11 billion in all-time handle in the post-PASPA era.
Though the Old Dominion’s streak of $300 million-plus handles ended at 10 months, July’s handle represented an increase of 10.4% compared to July of last year. The $2.9-billion plus in wagers for the first seven months of 2023 is 8.9% higher than the same period in 2022.
One streak that did continue was operators posting double-digit holds, which reached five months after operators across Virginia combined to craft a hold of 11.1%. The house claimed $32.5 million in gross revenue winnings, up 24.8% from last year thanks to the hold being 1.3 percentage points higher. The gross revenue was just $200,000 shy of June’s $32.7 million.
Twelve of the 16 operators finished with positive adjusted gross revenue for July as the state was eligible to tax $28.2 million. The 15% rate resulted in an inflow of $4.1 million into state coffers, and the $38.6 million in receipts this year is running $20.3 million ahead of last year’s total in the same span.