Overall, online sportsbooks saw their handle up 10% year-on-year, but down 8.8% on June’s $325 million in total wagers.
Tax Implications and Revenue Distribution
Virginia’s sports betting regulations mandate a 15% tax on the total AGR. For July, this translated to a tax revenue that was 4.3% higher than June, and a significant 25.6% increase compared to July 2022.
The distribution of this tax revenue is split between the state’s general fund (97.5%) and the Problem Gambling Treatment and Support Fund Allocation (2.5%). For July, the general fund received an allocation of $4 million, while the Problem Gambling fund was allocated $102,880.45.
In comparison, June’s tax revenue saw the general fund receiving $3,841,208.48 and the Problem Gambling Treatment and Support Fund Allocation getting $98,492.53, totaling $3.9 million. Cumulatively, for 2023, Virginia sports betting has generated impressive tax revenue exceeding $38.5 million.
Online sports betting dominated retail betting in Virginia in July, as is reflected nationally. However, despite — or maybe because of — being the state’s sole retail book, Hard Rock Bet at the temporary Hard Rock Bristol Casino did quite well. It accounted for 1.1% of the total handle, with $2.162 million in bets wagered during the month.
Operators and New Entrants
The Virginia Lottery’s report for July highlighted that 12 of the state’s sportsbook operators reported a net positive AGR, contributing to a total tax payment of $4.1 million. The remaining four operators, which reported negative AGRs, did not contribute to the tax revenue for the month.
Other than that, the state regulator does not reveal operator-by-operator statistics. Nationally, FanDuel and DraftKings dominate the scene, so a similar trend could be expected in Virginia.
One operator who won’t have been in July’s report, but will be in September’s future release, is Jake Paul- backed sportsbook Betr. The microbetting-focused sportsbook app finally debuted in Virginia this week after securing a license six months ago.
Its launch was delayed after regulators questioned why Paul didn’t declare an ongoing Securities and Exchange Commission filing against him at the time Betr was granted a license. The Lottery Board subsequently fined Betr $25,000.
It will be hoping its launch in Virginia won’t see it join one of the four sportsbooks that reported a negative AGR for the month. However, based on its last-place performance in Paul’s home state of Ohio in July, it could be tough for the new market entrant.
Euro 2024 will be held in Germany from June 14 to July 14, 2024. We’re in the early stages of qualifications with no more than two games being played per side.
In total 24 will participate in the tournament, and 23 of those sides will come through the qualification process. As hosts, Germany automatically qualifies.
We’re a year out from one of soccer’s most important tournaments – and with lots of qualifying matches left to play – but let’s take an early look at the odds board and who’s favored to win.
Odds to Win 2024 Euro
Odds to win Euro 2024
Odds as of June 13
Why Is France Favored to Win Euro 2024?
On an international level, the French are the second-best side. Les Bleus were runners-up at the 2022 World Cup. On that World Cup journey in Qatar, France took out some strong European opponents.
They bested Denmark 2-1 in the group stage (the Danish hold the ninth-best Euro odds), Poland in the Round of 16 by a score of 3-1 (Poland is at +5000 for Euro 2024) and then France dispatched the English 2-1 in the Quarter-Finals (England is third on Euro odds board).
Through the short qualification period, France is 2-0-0 with a +5 goal differential while keeping two clean sheets with wins over Ireland and the Netherlands.
Star power is another big factor to consider, and the Bleu-Blanc-Rouge have the biggest star of them all in Kylian Mbappe. The PSG forward has no flaws in his game and dominates at every level.
🇫🇷 Kylian Mbappe has only played in two World Cups in his illustrious career:
✅ 2018 World Cup: 👕 7 games ⚽️ 4 goals 🏆 Champions 🏅 Best YP
✅ 2022 World Cup: 👕 7 games ⚽️ 8 goals 🎯 2 assists 🥈 Runners-up 🥇 Golden Boot
In Qatar, Mbappe scored the most goals (8), lead the tournament in goal-creating actions with 11 (five more than the next best-player) and was third for goal-creating actions per 90 (1.74). When it comes to unlocking a game there’s no better player in Europe or even the world than Mbappe.
Euro 2024 Value
France enters the tournament as slight favorites, what sides have greater value and have a chance to win instead of the favorites?
The hosts are just behind France on the oddsboard at +550. Because of their host status, we don’t have any sense of the form their in. They haven’t played any games because they don’t need to qualify.
If not for a shock 2-1 loss to Japan in the group stage of the 2022 World Cup, Germany would have likely gone much further. They bounced back from that defeat to the Blue Samurai with a 1-1 draw with a strong Spanish side before dismantling Costa Rica 4-2 to close out their tournament.
The Germans will hope that youngster Jamal Musiala builds off a strong World Cup where he was credited with 7.67 shot-creating actions per 90 and an even better 22-23 Bundesliga campaign where he scored 12 goals and had ten assists for Bayern in his 19-year-old season. The kid is only going to get much better.
The English are the top-ranked side in Group C of Euro qualifiers with wins over Ukraine (2-0) and Italy (2-1).
Gareth Southgate’s side is winning games they should (against Ukraine) and those where they’re second best (vs Italy). Against the Azzurri, England only had 42% of the possession and 42% of the shots, they even went down a man in the 80th minute thanks to a Luke Shaw red card and still won 2-1.
With Southgate’s contract over in December of 2024, this will likely be his final major tournament. His sides have come close to glory a few times but never won a title. Sadly for the three lions, their returns have been diminishing for the last few years.
England Under Southgate
2018 World Cup
2022 Wold Cup
2019 UEFA Nations League
2021 UEFA Nations League
2023 UEFA Nations League
2024 Euro Dark horse
Every Euro tournament has its dark horse. A team comes out of nowhere and makes a deep run and upsets the landscape.
In 2020, that was the Swiss who finished third in Group A and made it to the Quarter-Finals after beating France in the Round of 16.
Who should you have your eyes on in 2024?
The Dutch are no strangers to this competition. They won it once in 1988 and placed third four times. That last third-place finish came in 2004.
At the 2022 World Cup, the Flying Dutchmen finished fourth with the third youngest squad in the competition. They had an average age of 26. Forward Cody Gakpo was a revelation with three goals in five matches for the Oranje in Qatar.
There’s a lot to like about Holland. At +1400, keep an eye on their qualifying.
The Croatians are at the top of Group D with four points in two qualifiers. Remember, they finished as runners-up at the 2018 World Cup and then third in Qatar. Never discount Croatia at a major international tournament. With +3500 odds you could make $350 on a $10 bet backing them this early. That’s very tempting.
Last Five Euro Winners
Last 5 Euro Winners
Favorites typically win this tournament. They have deep squads overflowing with some of the most talented players in all of Europe. But every few years a dark horse goes all the way and is crowned Kings of Europe.
At +15000 Greece, and those who bet on them, haven’t yet forgotten about that tournament in 2004.
Last Five Euro Runners-Up
Last 5 Euro Runners-Up
Lost 1-0 to Greece
Lost 1-0 to Spain
Lost 4-0 to Spain
Lost 1-0 to Portugal*
Lost 3-2 to Italy**
*After extra time **Game tied 1-1 after extra time, ended 3-2 in penalties
The Euro finals are a low-scoring affair. Over the last five tournaments, three or more goals have been scored only once. It’s worth exploring the UNDER when the Final comes up in July of 2024.
If you were to make a traditional straight-up bet, the favorite would be shown with the minus sign (-). In cases like these where there is no clear front-runner, the country with the lowest odds is the fave even if they’re all represented with the plus sign (+) which is generally used to demonstrate underdogs.
Let’s say you’ve looked at the group schedule and think Belgium is going to dominate and make it all the way to the top. A $100 bet would give you a payout of $650 – your original money is returned coupled with your winnings of $550.
Our Odds Calculator is a tool that will tell you how much you’d win based on the offered odds and amount bet.
What is a Futures Bet on the Euro Championship?
A futures bet is a wager made far in advance of a big event. Here, the bet is on the quadrennial Euro contest. It can be said that most bets are made prior to a sporting matchup, but futures can be placed weeks, months or even years in advance. In fact, as soon as the last championship is won, new odds will be released.
The odds will shift as the group stage gets closer and continue to move until right before the final is played on July 14, 2024, at the Olympiastadion in Berlin. If you see odds you like, take them to get the most value on your bets (should you win).