July 2022 Virginia sports bets continue to reflect some seasonal ebbs and flows. Numbers are down compared to June, but the $266 million in sports bets is way up compared to the same month a year ago.
- June 2022 Virginia sports betting — $295.2 million
- July 2022 Virginia sports betting — $266 million (down 10% from last month).
The Virginia Lottery released the lowest sports betting amounts of the year on Thursday.
That’s not a surprise. July was the slowest full month for betting in Virginia a year ago as well.
- 2021 July sports bets — $161.9 million
- 2022 July sports bets — $266 million (a 64% increase from last year)
Summer sports can’t keep up with gridiron action, but the 2021 and 2022 trends are a harbinger for a huge fall.
VA sports betting pace should rebound
July continues a four-month dip in Virginia sportsbook handle. But, sports bets should tick up over the next seven months.
Look for mild gains when August numbers are released by the Virginia Lottery a month from now. Football leads a betting surge that should continue through the Super Bowl and into the heart of 2023 March Madness.
January 2022 holds the record for sports bets for a single month at $485.5 million.
More numbers: July 2022 Virginia sports bets
- Customers at Virginia’s 13 sportsbooks won about $240 million from the $266 million in July 2022 sports bets. That’s a 9.8% hold for the sports betting companies.
- That left casinos with $21.4 million in revenue once payouts and other authorized deductions are factored in.
- Eight of the state’s 13 casinos finished the month with taxable profits.
- The state collected $3.1 million in taxes from July 2022 Virginia sports betting. About $76,500 (2.5%) will go to the state’s gambling treatment and support fund. Virginia’s general fund gets the rest.
For the first time, Virginia Lottery sports totals included numbers from a retail sportsbook. Bristol Casino – Future Home of Hard Rock is a temporary casino at the Bristol Mall. A retail Hard Rock sportsbook is among the offerings there.
