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Virginia Sportsbooks Hit $500 Million Mark in Betting Handle

Virginia Sportsbooks Hit $500 Million Mark in Betting Handle

In the latest news from the Bwager Blog, your best source for sports betting and gambling news, Virginia sportsbooks hit half a billion in wagers for the month of September. In what looks like a promising start to football season, sportsbooks in the state take in $520.3 million in bets, which is 63% higher than that of the previous month.

According to the latest report from the Virginia Lottery, both online and retail sportsbooks in the state accepted $520.3 million worth of bets for the month of September. The handle is also 26% higher than the same month in 2022. This indicates a better performance for a betting market that continues to grow.

Virginia Sportsbooks See Higher Handle and Revenue

Virginia Sportsbooks Hit $500 Million Mark in Betting HandleYou may see a similar trend in an increase in handle in your sportsbook. If you check your pay per head bookie software, there is a section where you can generate reports to see how much wagers you got in total, and how much you get to keep as revenue, and other relevant numbers. Online sports betting is very popular among bettors, so your sportsbook should be doing well if you have a similar customer base. For sportsbooks in Virginia, for example, $514.7 million, 99% of the total handle, came from online sportsbooks, with $5.6 million of wagers coming in from retail betting facilities.

Out of the handle, around 466.2 million was paid out as winnings, giving us a hold percentage of 10.4%. This gives us $45.6 million in adjusted gross revenue, which is much higher than August’s $27.9 million. And since we are only in the first month that offers football betting, this means we could see even better numbers in the months to come. And not only do we have the NFL and NCAA Football, but the NBA and NCAA Basketball season will also be starting in October and November, respectively. Thus, experts are optimistic at seeing a continuous increase in betting activity all over the country. You can also be part of this and earn from being a bookie. Use the best pay per head services to help you manage your own sportsbook business easily.


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