{"id":7808,"date":"2024-09-03T06:24:35","date_gmt":"2024-09-03T06:24:35","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/09\/03\/virginia-lottery-reports-strong-july-sports-wagering-figures\/"},"modified":"2024-09-03T06:24:35","modified_gmt":"2024-09-03T06:24:35","slug":"virginia-lottery-reports-strong-july-sports-wagering-figures","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/09\/03\/virginia-lottery-reports-strong-july-sports-wagering-figures\/","title":{"rendered":"Virginia Lottery Reports Strong July Sports Wagering Figures"},"content":{"rendered":"
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The Virginia Lottery has released its July sports wagering statistics, which indicate that the state had a successful betting month. Nearly $377.6 million was wagered by players in Virginia, a significant 29% increase over the same time the previous year. Also, the revenue soared in June<\/a> this year.<\/p>\n

Sports betting businesses in Virginia held an 11.9% hold in July, when wagerers took home almost $332.6 million. The month\u2019s adjusted gross revenue (AGR) exceeded $40.4 million in spite of this. Retail sports betting locations added more than $0.2 million to the overall AGR, but mobile sports betting dominated the market, contributing $40.2 million.<\/p>\n

State law mandates that 15% of all sports betting activity is taxed. The Virginia Lottery provided a detailed breakdown of how these funds are allocated. According to the lottery, \u201cOf the state tax on sports betting AGR, the statute specifies 97.5% is to be deposited in the state\u2019s General Fund, and 2.5% is to be deposited into the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services.\u201d<\/em><\/p>\n

In total, the state collected $6.1 million in sports betting taxes during July. Of this amount, nearly $5.9 million was directed to Virginia\u2019s General Fund, with the remaining portion allocated to the Problem Gambling Treatment and Support Fund.<\/p>\n

Petersburg Casino Legislation Moves Forward<\/strong><\/h2>\n

In a related development, Petersburg lawmakers recently voted in favor of introducing a new casino to the city, following successful legislation passed in both the House of Delegates and the Senate. This decision marks a significant shift in the state\u2019s approach to expanding casino operations.<\/p>\n

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