In August, the sports betting industry saw significant growth in Virginia, Colorado, and Rhode Island. In Virginia, sports betting revenue reached an all-time high, surpassing $25 million for the first time since its launch in January. The state saw a 5% increase in revenue from July, with some sportsbooks reporting their best month yet.
Colorado also experienced a surge in sports betting revenue in August, with a total handle of over $300 million. This marked a 1.3% increase from July and a 23% increase from August 2020. The state’s online sports betting market continues to thrive, with popular sportsbooks like FanDuel and DraftKings leading the way.
Rhode Island also saw a boost in sports betting revenue, with the state’s two casinos reporting a combined handle of $25.8 million. This marked a 13.3% increase from July and a 29.4% increase from August 2020. The growth in revenue can be attributed to a rise in online sports betting activity, as well as increased interest in sports betting following the return of major sporting events.
Overall, the sports betting industry in these states continues to show strong growth potential, with revenue reaching record highs and online sports betting becoming increasingly popular. As more states legalize sports betting and online gambling, the industry is expected to continue expanding in the coming months. Investors and industry experts are optimistic about the future of sports betting in the US, with potential for even greater revenue and market growth in the near future.
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