Virginia took a gradual approach to launching sports betting, but gamblers were all-in right out of the gate.
During the first 11 days, as the services started to go online, gamblers wagered $58.89 million with four operators, winning $55.31 million.
Betting providers took a loss during the 11-day stretch, because they offered $6.3 million in promotional incentives to gamblers in an attempt to gain market share.
Those numbers don’t include the Super Bowl, which was expected to bring a major windfall in February.
In releasing the numbers, the Virginia Lottery said it “anticipates additional sports betting operator permits to be awarded in the coming days.” There are at least a dozen pending applications from companies who want to enter the market.
FanDuel was the first company allowed into the Virginia market, launching on Jan. 21. DraftKings, BetMGM and BetRivers all launched in the following days. Caesars, which will operate under the William Hill brand, launched in early February.
Most offered generous incentives to get new customers to try out the services, and establish themselves as the market leader. FanDuel paid out $1.5 million in promotional winnings during one event called “Spread the Love,” where gamblers were allowed to bet on the Washington Wizards basketball team and add more than 100 points to the Wizards’ score, essentially guaranteeing the bet would win.