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Virginia reports a 19% increase in GGR for the record month of May

Virginia reported a 19 percent increase in gross gaming revenue, an impressive month for the state also topping $ 1 billion in sports betting.

The bets in May yielded £ 23.2m in GGR, up from the $15.4m in April. The adjusted GGR also rose to 13.7m from 07.8m the previous month, bringing in £ 2.4m in state taxes, including a $31.527 for helping with gambling.

Since its introduction, bookmakers have generated $ 85 million in gross gaming revenue and $ 5.6 million in state taxes.

In addition, noting $ 1.1 billion in wagering just over four months after launch, PlayVirginia - which follows the state's gaming market - noted that the record was the "latest success" of sports betting for the Commonwealth of Nations.

Jessica Welman, PlayUSA.com analyst, which includes PlayVirginia, explained: “The launch of sports betting in Virginia has gone as smooth as could be expected.

“A launch just in time for the Super Bowl put the market on the right foot. However, the state of bookmakers still reached the billion dollars, mostly without the benefit of football and within the two months when sports betting usually slows down. It makes the record even more impressive. "

Virginia bettors placed $227.0 million bets in May, down from $236.4 million in April, according to figures published on Thursday by The Virginia Lottery. Corresponding to $ 7.3 million in wagers paid each day on May 31, compared to $ 7.9 million per day for 30 days in April.

The May decline in betting of four percent is in line with what most major US sports betting markets experienced in April and May, historically two of the slowest months of sports betting of the year.

"The best month in the state came in March, deepening the slowdown, but Virginia is doing out of season as well as the young market can hope," he said. Dann Stupp, PlayVirginia.com analyst. “The Washington Wizards and Capitals playoffs in May helped me. But without a significant local draw in the next few months, bookmakers will have to be innovative to keep players engaged. ”

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