Virginia betting handle jumps 7.4% in August to $315.6 Million

Finance News

The state’s 14 online sportsbooks and one retail location generated $315.6 million in handle (total amount bet) this past month, up 8.6% compared to July, according to the newest data from the Virginia Lottery. However, revenue fell 1.1% from $28.2 million in July to $27.9 million in August.

anDuel accounted for close to 38% of the state’s $315.6 million mobile handle, accepting $119.6 million worth of wagers. It finished with $14.8 million in gross revenue, good for a 12.4% hold as it topped 12% for the sixth consecutive month. It was also the 14th straight month showing a double-digit win rate for FanDuel, which cleared $500 million in all-time gross revenue in the Old Dominion.

DraftKings was a clear-cut but distant second in handle of $94 million and revenue of $7.6 million. Its 8.1% hold was its lowest since a 6.3% win rate attained in February, but DraftKings’ hold for the calendar year is just over 9% with $79.7 million in gross winnings from $883.3 million handle

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