As part of what is shaping up to be a historic rout of the sports wagering public nationally for August, operators in Virginia more than kept pace with a staggering 13% hold, according to figures released Friday by the Virginia Lottery.
It was the sixth time in 20 months of wagering the sportsbooks’ win rate reached double figures, with the previous record of 12.3% set in July 2021. It was also the second time in four months the hold exceeded 12% after the house posted a 12.1% win rate in May.
The $284.7 million handle for August was also enough to make the Old Dominion the ninth state to surpass $6 billion in total handle in the post-PASPA era, joining New Jersey, Nevada, Pennsylvania, Illinois, New York, Indiana, Colorado, and Michigan. Virginia is also less than $47 million shy of clearing $3 billion in wagers accepted for the calendar year.
Operator gross revenue totaled $37 million, the fourth-highest total overall and third best this year behind May ($42.5 million) and January ($39.1 million). The change in limiting operator deductions for promotional play contributed to a record adjusted revenue total of $31.4 million — the first time that figure surpassed $30 million in state history.