The Virginia Lottery released its report on sports wagering activity submitted by licensed operators for the month of December, the eleventh full month of reporting since legal sports betting launched in Virginia on Jan. 21, 2021. Virginia sports betting exceeded the $400 million mark for the third consecutive month in December, closing the year with a $3.2 billion annual handle.
In the month of December, Virginians wagered $426,6 million, coming in at just slightly less than $1 million behind the record-setting month of October. That secures December as the second-highest month of wagering since the inception of sports betting in Virginia. Bettors wagered an average of $13.7 million per day during the month.
In December, sportsbooks generated $31.5 million in gross revenue, which was the second-most all-time despite falling short of November’s $48.3 million win by 35%. With $17.1 million in promotional spending, sportsbooks produced $10.1 million in taxable revenue, yielding $1.7 million in state taxes.
“Sportsbooks have set so many records recently that it almost seems disappointing when they don’t, but December was still one of the best months for Virginia’s operators,” said Dann Stupp, lead analyst for PlayVirginia.com. “The most important thing for the industry is that the year ended with a ton of momentum. The final four months of the year helped sportsbooks finish the year on the high side of expectations.”
“As impressive as the first year of sports betting has been, Virginia’s market has not come close to maturity,” said Eric Ramsey, an analyst for PlayVirginia.com. “Virginians are still getting comfortable with legal sports betting in its many forms, and operators will continue to look for ways to expand their base. 2021 was just the beginning.”
In 2021, Virginia’s sportsbooks generated $3.2 billion in wagers, the eighth-most among the U.S. states that allowed some form of legal sports betting in 2021. They also saw $285.9 million in gross revenue, and $20.3 million in state taxes.
In addition, Virginians proved to have a wide range of interests, and ultimately bet more on basketball than football.
