Adjusted gross revenue for July amounted to $12.7m (£9.2m/€10.7m), down from $14.9m in June and the smallest amount since $11.8m was generated in April.
Handle for the month reached $161.9m, which was 31.1% down from $234.9m and also the lowest amount since $58.9m was wagered in the first month of legal sports wagering in January this year.
Consumers won $141.9m from sports wagering during the month, while the state was able to generate $1.8m in taxes betting.
Virginia has a 15% tax on sports betting activity based on each license-holder’s adjusted gross revenue, which is defined as total bets minus winnings and other authorized deductions.
Read the full story on iGB North America.
Original article: https://igamingbusiness.com/va-sports-betting-revenue-drops-in-july-as-handle-hits-low/
