Virginia Kicks Off NFL Season With Near-Record Sports Betting Totals
Sportsbooks in Virginia saw a significant surge in September compared to August, as anticipated for the commencement of the 2021 NFL season. The September sports betting figures marked the highest month-on-month growth ever witnessed in the state.
In September of this year, Virginian residents and visitors collectively wagered a staggering $293.8 million on sports. This impressive figure marks the second-highest amount ever recorded in the Old Dominion state. The trend echoes the nationwide pattern, emphasizing the NFL’s significant role as the primary source of revenue in the realm of US sports betting.
Virginia September sports betting numbers
In August, bettors contributed $182.4 million, but it appears they were gearing up to take things more seriously in September. The total amount wagered in September reflects a significant 61% increase compared to the previous month and falls just $10.2 million shy of the highest recorded total of $304 million achieved in March.
In addition, the daily average figure stands at $9.4 million, reflecting a notable 62% surge compared to August. Moreover, VA sportsbooks have achieved impressive results in terms of gross gaming revenue (GGR) and hold percentage, which are crucial indicators for their success.
Furthermore, the VA AGR experienced a significant increase to $10.3 million compared to the previous month’s $8.6 million. Although the hold percentage, which represents the portion of money retained by sportsbooks from unsuccessful bets, is currently at 10.5%, it falls second to July’s 12.3% as the highest recorded so far.
| Month | Handle | GGR | Hold % | Promos | Other deductions | AGR | Taxes |
|---|---|---|---|---|---|---|---|
| February 2024 | $401,889,135 | $27,498,133 | 6.8% | $15,816,234 | $3,797,649 | $7,884,250 | $7,884,250 |
| January 2024 | $485,544,417 | $39,050,067 | 8.0% | $16,850,981 | $3,978,519 | $18,220,567 | $2,876,609 |
| December 2021 | $426,596,891 | $31,515,015 | 7.4% | $17,051,709 | $4,339,908 | $10,123,398 | $1,729,130 |
| November 2021 | $402,621,132 | $48,337,037 | 12.0% | $14,993,073 | $3,417,267 | $29,926,697 | $4,233,167 |
| October 2021 | $427,320,306 | $30,160,385 | 7.1% | $15,805,261 | $4,569,424 | $9,785,700 | $1,746,204 |
| September 2021 | $293,851,531 | $30,929,243 | 10.5% | $17,422,068 | $3,172,781 | $10,334,395 | $1,557,498 |
| August 2021 | $182,418,252 | $17,967,427 | 9.9% | $6,868,639 | $2,410,724 | $8,688,064 | $1,378,539 |
| July 2021 | $161,901,955 | $19,965,556 | 12.3% | $4,375,872 | $2,898,664 | $12,691,020 | $1,864,433 |
| June 2021 | $234,943,435 | $22,006,296 | 9.4% | $4,983,544 | $2,125,855 | $14,896,898 | $2,273,995 |
| May 2021 | $226,963,573 | $23,173,549 | 10.2% | $5,168,732 | $2,341,616 | $15,663,201 | $2,381,115 |
| April 2021 | $236,432,523 | $19,442,317 | 8.2% | $5,529,294 | $2,532,886 | $11,380,137 | $1,652,147 |
| March 2021 | $304,066,245 | $26,573,877 | 8.7% | $10,340,533 | $2,388,332 | $13,845,012 | $1,183,487 |
| February 2021 | $265,778,306 | $12,238,730 | 4.6% | $13,187,560 | $2,282,972 | ($3,231,752) | $300,594 |
| January 2021 | $58,896,564 | $3,586,077 | 6.1% | $6,343,077 | $478,612 | ($3,235,612) | $39,710 |
| Total | $4,109,224,266 | $352,443,759 | 8.6% | $154,736,576 | $40,735,209 | $156,971,974 | $24,622,911 |
In September, Virginia achieved a new record for gross gaming revenue, reaching $30.9 million. This monumental achievement is not unique to Virginia alone, as many other states have also experienced record-breaking numbers during the same period. By considering the national figures, we can better understand Virginia’s position within the larger gaming landscape.
Virginia is an attractive market for operators
It is important to clarify that VA is unlikely to rank among the top five markets once the dust settles in September 2021. The complete situation will only become clear later this month when Illinois, Nevada, and Tennessee release their figures. In September, New Jersey bettors have already set a high standard by wagering over $1 billion on sports bets.
Operators cannot dismiss VA’s action as it exceeds the amount bettors placed in Washington, DC by more than 14 times in the same month.
It surpasses other markets that allow legal online wagering statewide, including:
- Iowa
- New Hampshire
- West Virginia
- Oregon
- Wyoming
The month of September presents the Virginia sports betting market with its initial opportunity to gauge its potential. Since legal wagering commenced in late January, this marks the first NFL season for sportsbooks in VA. However, it is important to consider these figures as preliminary for various reasons.
Moving ahead, there will be a transformation in the landscape. It is anticipated that by next September, retail sportsbooks within Virginia’s casinos will be accessible, which will undoubtedly bring about a change in the betting market. Additionally, neighboring Maryland might also have operational sportsbooks by then, which could potentially impact the betting activity in Virginia.
Despite the uncertainties, it appears highly likely that VA will establish itself as one of the top 10 markets for sports betting. This is why operators are eagerly seeking entry into the VA market, aiming to capture a portion of the market share from the leading sportsbooks. Given the way Virginians are expected to bet on the NFL, it is understandable why they would do so.
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