Sports betting continues to be a source of revenue for Virginia

HARRISONBURG, Va. (WHSV) – Sports betting was legalized in Virginia just over a year ago, and it continues to be successful in the Commonwealth.

“I love advanced analytics, so obviously my favorite sport is baseball because that’s just stats and analytics,” said Mathew Sherman, a Harrisonburg sports bettor.

Numbers got Mathew Sherman into the world of sports betting, but he took it to another level by creating his own sports betting website.

“I started this as a sort of content source for people who didn’t want to do hours of research every day and wanted to get the shortcut of player screenings and everything beforehand,” Sherman said.

In the first 11 days of live sports betting, Virginians wagered around $58 million.

Now, at the end of February, the Virginia Lottery reports bettors wagered a combined total of $4.1 billion, which generated more than $24 million in state taxes.

However, not all states have given the green light to sports betting yet.

Logan Phelps, a sports bettor from Virginia, recently moved to South Carolina where he can no longer place bets.

“One thing that’s always been interesting to me is like when we come home, say I’m driving, and he’s like, ‘Oh, let me see if I can place a bet’ or whatever. …is happening there it’s as quick as ‘Oh hey, you’re back in the state, place your bet’,” said sports bettor Logan Phelps.

With the evolution of sports betting in the United States, what you can bet on has also evolved and grown.

“You can watch tennis, UFC…I mean, it pretty much covers everything crazy these days,” Phelps said.

Even down to particular statistics one can bet.

“NBA, there’s a huge upside, especially in fantasy sports, because there are advanced stats like usage rate,” Sherman said.

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Virginia C. Taylor