Virginia Gambling Scene Explodes as Sports Betting Investments Soar 10% in July

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Over the recent years, Virginia has experienced an unprecedented expansion in the gambling scene, with gambling forms delivering impressive returns. Since 2019, the state’s gambling portfolio has incorporated historical horse racing machines, sports betting, and full service casinos, expanding options for punters.

With these additions, Virginia’s gambling market has experienced a phenomenal growth trajectory. A case in point is the surge in sports betting. In July alone, Virginians invested over $293 million in the 14 approved sports betting providers currently operating within the state. Remarkably, this figure represents a substantial increase of over 10% from the figures witnessed in the corresponding period one year prior.

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Sharing his insights on the matter, Andrew Champagne, who oversees gaming affairs as the content manager for the Play Virginia website, depicted a promising picture. Champagne noted that although the July statistics might seem dwarfed compared to the high levels of January, February, and March, a 10% increase in the handle, and the associated revenue, is a significant mark of progress for any market.

Champagne expressed curiosity about unfolding events in Virginia following North Carolina’s anticipated introduction of sports betting in the forthcoming year. He also expressed interest in watching the continued growth of casino gambling in Virginia in the light of new establishments like the Danville and Bristol casinos. Champagne is particularly expectant of Norfolk’s casino once it overcomes the existing bureaucratic hurdles.

When the Danville casino opened, it quickly established itself as a major revenue contributor, observed Champagne, and he envisions a similar trajectory for the Norfolk casino once its operations commence. Even more so, he is intrigued by Richmond’s upcoming election in November which could potentially ratify the establishment of a casino in the state capital.

However, the future of one gambling format remains uncertain – skill games that are a common feature in many convenience stores, truck stops, and other businesses around the state. A pending court case battling the state’s prohibition on skill games could determine their existence, with a verdict expected in the December trial.