Analysing the latest monthly sports betting results from across the US, iGB takes a look at year-on-year growth in Virginia during April and a month of mixed fortunes in Colorado.<\/p>\n
Virginia reported an increase in both sports betting revenue and handle in April. However, while Colorado saw player spending rise year-on-year, total wagering revenue was lower. <\/p>\n
Beginning in Virginia with player spending, this amounted to $563.5m (442.4m\/519.2m. This represents a year-on-year rise of 32.3% but 11.3% less thanMarchs $635.5m total. <\/p>\n
Bettors spent some $559.3m betting online, plus $4.2m at retail sportsbooks in land-based casinos across Virginia. <\/p>\n
As for adjusted gross revenue, this hit $54.6m, which is 40.4% higher than April last year and 28.8% more than $42.4m in March this year. <\/p>\n
Of this total, $54.5m came from online betting, while just $110,208 was generated in retail revenue. <\/p>\n
Adjusted gross revenue is calculated by taking off player winnings, bonuses and promotion and other deductions from gross revenue. Virginia takes adjusted gross revenue at a flat rate of 15.0%. <\/p>\n
Players won a total of $502.9m from sports betting in April, with the state generating $8.2m in tax. Virginia does not disclose information on individual operators, but it was revealed that 12 of its licensed operators posted positive adjusted gross revenue during the month. <\/p>\n
Turning now to Colorado and there were somewhat mixed results from sports betting in April. <\/p>\n
Player spending during the month reach $509.5m, which is 22.0% higheryear-on-yearbut down 14.1% fromMarch. This includes $507.1m worth of online bets and $2.4m from the retail market. <\/p>\n
Basketball drew the most bets, with consumers wagering a total of $169.6m during April. A further $85.9m was bet on baseball, with tennis betting amounting to $32.5m. <\/p>\n
Turning to revenue, total gross gaming revenue from sports betting hit $32.0m. This is 8.8% less than last year and also 28.9% behind the $45.0m posted in March this year. <\/p>\n
Online gross gaming revenue amounted to $32.2m, but the overall market figure was hit by a $160,166 loss from retail betting. <\/p>\n
Players won a total of $477.5m from sports betting, with the state collecting $1.9m in tax. <\/p>\n
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US April round-up: growth in Virginia, mixed month for Colorado - iGaming Business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Analysing the latest monthly sports betting results from across the US, iGB takes a look at year-on-year growth in Virginia during April and a month of mixed fortunes in Colorado. Continue reading