Virginia on Track to be Fastest State to Reach $1 Billion in Sports Betting

Sports Book Betting

Sports betting in Virginia launched January 21, and Virginians have already wagered $865 million, according to press releases from the Virginia Lottery. In April, Virginians wagered $236.43 million according to a May 28 press release.

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Virginia Betting Hits $265 Million in First Full Month, One of Fastest Growing in Nation

In Virginia’s first full month of legal gambling, the commonwealth’s sportsbooks took in about $265.8 million in wagers, which is the second largest sum for any state in its first full month.

Legalized gambling began in mid-January, taking in $58.9 million that month. In the 28 days of February, the state more than quadrupled that number. The per-day amount of money spent on wagers nearly doubled from $5.4 million in January to $9.5 million in February. The per-day jump is the largest any state has seen in one month.

“The enthusiasm from bettors will eventually settle down, and sportsbooks will pull back a bit from this heavy promotional period,” Jessica Welman, an analyst for PlayVirignia, said in a statement. PlayVirginia is an organization that provides analysis on the gaming industry in the commonwealth.

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Transcript of Tennessee Education Lottery Board Meeting Suggests Action 24/7 Suspension Made in Haste

Several members of the Tennessee Education Lottery (TEL) Corporation’s Board of Directors, while driving in their vehicles,  decided to temporarily take away Action 24/7’s operating license.

Some board members were on spring break.

And TEL board members took this action while taking the word of an investigator who said the company didn’t follow through on the necessary security protocols.

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