“RICHMOND, Va january. — Sportsbooks actually lost money in Virginia in their January debut wagers that are taking athletic activities because of the aggressive promotions agreed to court clients.
As A result, the continuing state collected a paltry $40,000 in taxes.
The Virginia Lottery on released revenue and tax figures for sports gambling from its Jan. 23 launch through the end of the month monday. The lottery states $58.9 million ended up being wagered, with $55.3 million in winnings. But yet another $6.3 million in bonuses and promotions ended up being additionally paid.
As a total result, the sportsbooks lost more than $3 million and the state collected less than $40,000 in taxes. Lottery officials say the figures are expected by them to boost considerably in future months once the promotions for brand new clients disappear.”(*)