As we await the start of football season, the sports betting numbers in June 2022 for Virginia indicate robust year-over-year growth, despite the usual slowdown in betting activity during the summer months.
According to data released by the Virginia Lottery on Monday, Virginia’s 13 sportsbooks amassed $295.2 million in sports bets in June 2022. This represents a 25% surge compared to the $234.9 million recorded in June 2021.
In June 2021, Virginia’s sports betting industry was only six months old, with customers having limited access to just seven operators during the previous summer.
In Virginia, June 2022 witnessed a decrease in pace compared to May 2022. Despite customers wagering $351.5 million on sports events in May, the betting volume in June experienced a decline of approximately 16% when compared to the preceding month.
The decrease in monthly sports bets is a common trend observed during the summer months. If Virginia aligns with national patterns, it is likely that there will be a further decline in numbers in July. However, with the comeback of football, we can anticipate a resurgence in higher figures.
More numbers: June 2022 Virginia sports betting
- In June 2022, the sportsbooks in Virginia made a profit of approximately $13 million from the $295.2 million in sports betting handle mentioned earlier. This translates to an 8.8% hold for the sports betting companies.
- In June 2022, Virginia sports betting contributed $1.8 million in taxes to the state. Out of this amount, approximately $46,800 (2.5%) will be allocated to the state’s gambling treatment and support fund. The remaining funds will be directed to Virginia’s general fund.
- In June, the Virginia sportsbooks disclosed free bet offers amounting to nearly $8 million.
- Ever since the legalization of sports betting in Virginia, customers have placed bets exceeding a staggering $5.6 billion on various events.
- Since the inception of sports betting, sportbooks have accumulated approximately $232.6 million in revenue.
- Since the beginning of 2021, the state has amassed over $35.5 million.
FanDuel leads 2022 market share
The Washington Commanders’ initial collaboration with FanDuel continues to bring significant benefits to the sportsbook. Thanks to their partnership with the NFL franchise, FanDuel gained a competitive advantage and secured an early entry into the Virginia market. Let’s examine the market share data for the period spanning from January to May 2022:
- FanDuel — 41%
- DraftKings — 22.2%
- BetMGM — 19.7%
- Caesars — 9.1%
- Barstool — 3.1%
- PointsBet — 2.3%
- BetRivers — 1.2%
Unibet, WynnBet, BallyBET, Hard Rock, Golden Nugget, Betway, and SI Sportsbook are the approved sportsbooks with less than 1% market share as of May.
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