The Virginia Lottery reported gross sports wagering revenue of nearly $50.7 million for the month of December on Wednesday, capping an incredibly strong performance by operators in the second half of 2022.
It was the fourth consecutive month gross revenue cleared $50 million, the only occasions that has occurred in the 24 months of wagering in the Old Dominion. The $276.2 million in gross operator revenue generated from July through December nearly equaled the $285.9 million for all of 2021.
Handle surpassed $500 million for the third consecutive month as the 14 operators conducting business accepted $503.1 million worth of bets. That was 3% lower compared to November’s handle of $518.8 million but also 17.9% higher than December 2021, when three fewer operators were taking action.
The 10.1% hold for the final month of 2022 was the fourth time in five months it reached double digits, though it was also down one full percentage point compared to November, contributing to an 11.9% dip in gross revenue. Virginia operators posted win rates of 10% or higher in five months last year, cresting at 13.1% in September.