As you can see in the latest bookie news on reports in sports betting, many states in the US are reporting lower handles for the month of December. However, Virginia is seeing an increase in monthly sports betting handle for the last month of the year. In December 2021, the total monthly Virginia sportsbook handle is at $426.6 million. This is 6% higher than November’s $402.6 million.
Those who want to open a sportsbook can do so easily, and with confidence, seeing as the sports betting industry continues to grow steadily. Virginia is the perfect example, having a billion-dollar industry in just a year. This makes the state one of the most successful launches for sports betting in terms of betting handle in its maiden year.
Virginia Sportsbook Handle and 2021 Numbers
Sports betting launched in the state last January 21, 2021. Since then, the total handle for the state is at $3.2 billion. Aside from the current betting options available to residents, the state will also allow the opening of betting kiosks in sports stadiums, giving fans the chance to place their bets before watching the games live. However, unlike a sportsbook PPH, residents cannot bet on local college sports games, and in-play betting is not allowed for college sports games as well.
Looking at the 2021 numbers of the state, we can see that the $3.2 billion handle resulted in a total adjusted gross revenue of $130.9 million. Meanwhile, sports betting taxes are at $20.3 million. Again, these are amazing numbers for a state that has only opened its doors to sports betting for technically less than a year. And as more sportsbooks open, both retail and online, then the numbers can only go higher for Virginia this 2022.