Published: April 4, 2022

Virginia Lottery: Sports wagering tops $400M in February

RICHMOND, Va. (WFXR) – On Friday, The Virginia Lottery released its report on sports wagering in Virginia during the month of February 2022.

During the 28-day span, Virginians wagered $401,889,135 with bets on the premiere event of the month, The Super Bowl, coming in at $33.157 million.

A total of $374,391,002 was won by bettors for a combined 6.84$ operator’s win percentage.

Below are the official tallies:

Gross Sports Gaming Revenues

Feb. 2022: $401,889,135

Inception To Date: $4,109,224,266

Gross Winnings

Feb. 2022: $374,391,002

Inception To Date: $3,756,780,507

Bonuses and Promotions

Feb. 2022: $15,816,234

Inception To Date: $154,736,576

Other Deductions

Feb. 2022: $3,797,649

Inception To Date: $40,735,209

AGR (Adjusted Gross Revenue)

Feb. 2022: $7,884,250

Inception To Date: $156,971,974

Of Virginia’s tax on sports betting AGR, the statute specifies that 97.5% is to be deposited in the state’s General Fund and the remaining 2.5% is to be deposited into the Problem Gambling Treatment and Support Fund – administered by the Virginia Department of Behavioral Health.

Total Tax

Monthly Taxes: $1,406,280.24

Inception To Date: $24,622,911.12

General Fund Allocation

Monthly Taxes: $1,371,123.23

Inception To Date: $24,007,338.33

Problem Gaming Treatment and Support Fund Allocation

Monthly Taxes: $35,157.01

Inception To Date: $615,572.79

 

https://www.wfxrtv.com/news/regional-news/virginia-news/virginia-lottery-sports-wagering-tops-400m-in-february/

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