The Virginia Lottery reported $635.6 million in sports betting wagers in Virginia in March 2024, up 24.2% from a year earlier. Operators recorded $47.7 million in gross revenue, while adjusted gross revenue subject to the state’s 15% tax was $42.4 million; state tax receipts were $6.3 million.
Virginia’s reported wagers, taxable revenue and tax receipts help operators and policymakers track the market’s fiscal contribution.
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Nevada sportsbooks recorded $763m in wagers in March, down 11.3% from the same month a year earlier, according to the Nevada Gaming Control Board. Their $46m win was up 107%, with a 6.0% hold compared with 2.6% a year earlier; mobile wagers totalled $550.4m, down 10.1%.
New Jersey sportsbooks recorded more than $1bn in sports betting handle in March, reportedly ending a one-month lull. Revenue rose 23% year on year to $87.6m, while FanDuel led operators with $32.2m, up 37.3% from a year earlier.
US online betting handle fell about 3% year on year in March, while gross gaming revenue increased as hold rates approached 9.6%, according to an industry tracker compiled by Stifel analysts. The tracker also reported online casino revenue growth of around 20% year on year in February; analysts noted that state reporting differences limit comparisons.
Stifel’s March US Online Gambling Tracker reported that online sports betting handle fell about 3% year on year in March, following a roughly 2% rise in February. It said March gross gaming revenue increased as operator hold rates approached 9.6%, while February revenue declined about 4%.
South Dakota’s Commission on Gaming reported that casino handle across slots, table games and sports betting exceeded $134 million in March. The total was up 5.4% from $127 million a year earlier; sports betting handle at seven casinos rose nearly 27% to $1.58 million.