Summer tends to slow down the pace of sports bets, but June 2022 Virginia sports betting numbers show strong year-over-year growth as we wait for the start of football season.
Virginia sports betting operators collected $295.2 million in June 2022 sports bets, according to numbers released Monday by the Virginia Lottery. The 25% increase compares to $234.9 million a year ago in June 2021.
Virginia sports betting was just six months old in June 2021. Customers only had access to seven VA online sportsbooks last summer.
June 2022 was slower than May 2022 in Virginia, however. Virginia customers wagered $351.5 million on sports events in May 2022, so June’s betting volume was down about 16% compared to the previous month.
Those month-to-month decreases are a typical summer trend for sports bets. If Virginia follows national patterns, expect July numbers to see another dip. The return of football will mark the return of bigger numbers.
More numbers: June 2022 Virginia sports betting
- Virginia’s sportsbooks won about $13 million from the $295.2 million in June 2022 sports betting handle we mentioned earlier. That’s an 8.8% hold for the sports betting companies.
- The state collected $1.8 million in taxes from June 2022 Virginia sports betting. About $46,800 (2.5%) will go to the state’s gambling treatment and support fund. Virginia’s general fund gets the rest.
- The Virginia sportsbooks reported nearly $8 million in June free bet offers.
- Since legal Virginia sports betting began, customers have wagered more than $5.6 billion on events.
- Sportbooks have cleared about $232.6 million in revenue since sports betting began.
- And, the state collected more than $35.5 million since the start of 2021.
FanDuel leads 2022 market share
FanDuel VA continues to benefit from its early partnership with the Washington Commanders. The NFL franchise agreement helped FanDuel get through the door first in Virginia. Here’s a look at the market share from January to May 2022:
- FanDuel — 41%
- DraftKings VA — 22.2%
- BetMGM VA — 19.7%
- Caesars VA — 9.1%
- Barstool — 3.1%
- PointsBet — 2.3%
- BetRivers VA — 1.2%
Through May, the approved sportsbooks with less than 1% of the market share are Unibet, WynnBet, BallyBET, Hard Rock, Golden Nugget, Betway and SI Sportsbook.