<p>The rise in player expenditure on sports betting in Virginia during March contributed to a 6.4% increase in adjusted gross revenue compared to the previous year.</p>
<p>The adjusted gross revenue from sports betting for the month reached $45.1 million. This surpassed the $42.4 million recorded in Virginia in <a href=”https://igamingbusiness.com/finance/virginia-sports-handle-hikes/” target=”_blank” rel=”noreferrer noopener”>March of the preceding year</a>, although it was 27.1% lower than <a href=”https://igamingbusiness.com/sports-betting/virginia-sports-betting-hold-february/” target=”_blank” rel=”noreferrer noopener”>February’s</a> figures.</p>
<p>Mobile betting contributed to $44.4 million of the total revenue in March, with retail’s portion amounting to $692,282. These figures are based on <a href=”https://www.valottery.com/winnersnews/latestwinners” target=”_blank” rel=”noreferrer noopener”>information provided by the Virginia Lottery</a>.</p>
<p>In terms of wagering, the overall handle for the month came in at $689.7 million. This exceeded the previous year’s figure by 8% and February’s by 23.9%.</p>
<p>Out of this total, $683.1 million was bet through online and mobile platforms in Virginia. The remaining $6.6 million was placed at retail sportsbooks throughout the state.</p>
<p>This led to a statewide hold of 6.58%.</p>
<h2 class=”wp-block-heading” id=”h-virginia-players-get-back-639-million-of-their-bets”>Virginia bettors recoup $639 million from their wagers</h2>
<p>While the Virginia Lottery doesn’t disclose details on specific operators, it does release certain other data.</p>
<p>The monthly report indicates that players reclaimed $639 million from sports betting in March. An additional $5.6 million was also noted in unspecified ‘other deductions’.</p>
<p>Regarding tax, $6.8 million was gathered from sports betting in March. Of this, $6.6 million was allocated to the General Fund and $168,873 was directed towards the Problem Gambling Treatment and Support Fund.</p>
<p>In March, 14 mobile operators and three casinos were granted permission to accept bets in Virginia.</p>
