The sports betting market has been seeing an upward trend in activity, especially online. Any Bookie Pay Per Head provider will tell you that the increase in both bookie registration and player activity has been phenomenal. Despite the brief pause as the pandemic stopped pretty much the whole world, the bookie industry bounced back quickly, and quite well too. Sports betting in Virginia, for example, is one of the US sports betting markets that has grown since its launch back in January 2021.
The Virginia Lottery recently released their reports, and the outlook looks good. There is a year-on-year increase in both sports betting handle and revenue in May. Wagering for the month of May is $351.5 million, 54.9% higher than May 2021’s $227 million. While we are seeing a decrease on month-to-month handle, it is expected during this time of the year, as many who use a sportsbook pay per head solution may know.
Sports Betting in Virginia
Another interesting number we saw, is that the Virginia Lottery also reports since the local betting market launched back in January 2021, state sportsbooks have seen a total betting handle of $5.33 billion. If anything, these numbers should inspire you to start using a pay per head software to create your very own online sportsbook.
In May, Virginia sportsbooks also have an adjusted gross gaming revenue of $27.5 million. It is 32.2% higher than April’s $20.8 million. This is a whopping 75.2% year on year increase from %15.7 million back in May 2021. Meanwhile, the state was able to collect $3.9 million in tax from sports betting, a number that could increase even more as sports betting gains more popularity in Virginia in the next few years.