Press Releases
PlayVirginia.com: Virginia sportsbooks extend historic start with $265 million in February
Virginia sportsbooks hauled in more than $265 million in wagers in what was the Commonwealth’s first full month of legal sports betting, extending one of the highest volume debuts in U.S. history, according to PlayVirginia, which provides news and analysis of the state’s gaming industry.
“Virginia’s debut has been overshadowed some by Michigan, but together the two states show just how far the U.S. has come,” said Dustin Gouker, analyst for PlayVirginia.com. “The nation’s major operators have the resources to engage bettors in new markets in ways that were impossible in the early days of legalization, which benefits later-comers like Virginia. Ultimately, that will mean a market that goes through fewer growing pains than some of the earlier adopters.”
Spurred by $19.6 million in Super Bowl betting, matching PlayUSA.com projections for the state, Virginia sportsbooks collected $265.8 million in wagers in February, according to official data released Thursday by The Virginia Lottery. That is up from $58.9 million in January. The per-day handle nearly doubled to $9.5 million per day through the 28 days of February from $5.4 million per day in January, easily the largest month-over-month per day gain in the U.S. during the month.
Launched on consecutive days in January, Virginia and Michigan have now combined to take in $741.7 million in online bets so far. And with Michigan’s $301.9 million in online bets in February, the two states represent No. 1 and No. 2 on the list of highest-volume first full months of legalized online sports betting in U.S. history.
Virginia’s sportsbooks won $12.2 million on February’s bets, up from $3.6 million in January. Promotional credits again sapped much of the win, pushing combined adjusted gaming revenue to a $3.2 million loss in adjusted gross revenue. The collective win yielded $300,593 taxes for the state.
Even more, new operators continue to enter the market, joining national heavyweights FanDuel, DraftKings, BetMGM, and BetRivers, which all launched in January. That includes William Hill, which launched just before the Super Bowl in February, and WynnBet, which opened ahead of March Madness, giving Virginians a more robust selection to choose from.
“The enthusiasm from bettors will eventually settle down, and sportsbooks will pull back a bit from this heavy promotional period,” said Jessica Welman, analyst for PlayVirignia.com. “Ultimately, the goal in these early days for sportsbooks is to engage sports bettors, introduce them to their product, and begin building relationships that will act as the foundation. So far Virginia’s operators are doing just that.”
The growth in Virginia should continue in March, which includes the NCAA Men’s Basketball Tournament. But Virginia may not be in as good a position as other states to capitalize on March Madness.
The Commonwealth had five schools reach the NCAA Tournament, but a state ban on wagering on in-state college teams and in-game wagering on college games in general could mute the results of what is traditionally the nation’s single-biggest sports betting holiday in the U.S.
“The NCAA tournament will bring significant interest in Virginia, but the restrictions will prevent a huge leap forward,” Welman said. “Removing those restrictions would really help get the most out of what still should be a big month next month. Regardless of what happens in March, Virginia is off to a great start by most any measure.”
For more information and analysis on regulated sports betting in Virginia, visit PlayVirginia.com/revenue.
About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over two dozen states, PlayUSA.com and its state-focused branches, including PlayVirginia.com, produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.
BETBY, an industry-leading sports betting provider, has announced a long-term partnership with Calímaco, a premium B2B sportsbook supplier with a strong foothold across Latin America. This collaboration aligns with BETBY’s expansion strategy in the LATAM market, reinforcing its commitment to delivering state-of-the-art sportsbook solutions in the region.
As part of the agreement, Calímaco will integrate BETBY’s award-winning sportsbook solution, including its proprietary esports feed BETBY Games, and comprehensive trading and risk management services. Additionally, by leveraging BETBY’s AI-driven technology, AI Labs, Calímaco’s partners will gain access to an unparalleled betting experience tailored to the needs of the LATAM market.
Known for its scalable and robust casino and lottery platform, Calímaco will significantly enhance its offering with an additional 300,000+ events, 8,000+ markets, 125+ sports, and 35+ esports provided by BETBY, cementing its position as a go-to supplier in the region’s competitive iGaming landscape.
Stefanos Karakidis, Head of Business Development at BETBY, commented: “We are excited to partner with Calímaco, a company that shares our vision for technological excellence and operator-focused innovation. Integrating our complete sportsbook solution into Calímaco’s platform will enable brands across LATAM to elevate their sports betting offerings and provide their users with an exceptional experience.”
Alejandro Serrano, Head of Business Development at Calímaco, added: “BETBY’s sportsbook technology is renowned for its flexibility, scalability, reliability, and comprehensive coverage. Incorporating their award-winning solution into our platform will empower our partners with world-class sports betting capabilities, further strengthening our presence in the Latin American market.”
To ensure the company keeps its global clients well ahead of the technology curve, Gaming Laboratories International (GLI®) has named Sangeeta Reddy as Vice President, Innovation. Previously, she served as Vice President of Engineering. Reddy will lead the company’s newly formed Innovation division.
“Technology is advancing at a breathtaking rate. Our mission at GLI is to advance with technology, while also constantly finding ways to do more to keep our clients informed and ahead of what’s next. In her new role, Sangeeta will continue to evolve our evaluation methodologies via her passion for R&D, her extensive experience both in and out of the gaming, and her strong academic background,” said President and CEO James R. Maida.
Reddy began her gaming industry career in 2001 as a PA Engineer at IGT, specializing in VLT, Slot games. She joined GLI in 2020. Prior to joining GLI, Reddy successfully managed Software QA and Development teams at Thomson Reuters and General Motors.
She holds a certificate from the Harvard Business Publishing’s Emerging Leaders program and a certificate in Associates Computer Information Systems. Her Postgraduate certification includes Chief Technology Officer Program, Business Analytics: From Data to Insights, and Driving Strategic Innovation: Leading Complex Initiatives for Impact from the Wharton School Aresty Institute of Executive Education and certifications in Cloud Computing, Artificial Intelligence and Machine Learning: Business Applications, Artificial Intelligence, and Data Science and Business Analytics from the Texas McCombs School of Business, Postgraduate Program.
Legendary motorsport racer and SOFTSWISS’ Non-Executive Director in Latin America Rubens Barrichello is taking the stage at SiGMA Americas 2025 with an inspiring keynote speech on 8 April, the opening day of the summit.
This will be Barrichello’s first major public engagement as an official SOFTSWISS representative at SiGMA Americas. In his speech, he will spotlight his vision of racing and iGaming – two worlds defined by speed, precision and passion. Attendees can expect a unique view of how these seemingly distant industries are more connected than it may seem.
In his keynote, Barrichello will share insights that bridge his personal racing journey with the opportunities presented by SOFTSWISS. The speech will also cover the cultural and human elements of doing business in Latin America, and the importance of timing, connections, and adaptability to achieve long-term success in this booming market.
“Latin America is a unique region filled with pure energy, emotion, and drive,” said Rubens Barrichello, Non-Executive Director in Latin America at SOFTSWISS. “The iGaming industry here is moving so fast, that for me it’s like stepping into a new race. But instead of cars, it’s technology, competition, and innovation pushing the progress forward, just like in Formula 1. I can’t wait to speak at the SiGMA Americas Summit and share what it takes to grow business on this continent.”
Barrichello’s active public engagement highlights SOFTSWISS’ strategic expansion into Latin America, one of the fastest-growing iGaming markets in the world. The company has already established itself in the region through certification in Brazil and Peru for its Game Aggregator and Jackpot Aggregator. In addition, SOFTSWISS recently partnered with rising talent Eduardo Barrichello for the 2025 FIA World Endurance Championship.
Rubens Barrichello will also join the SOFTSWISS team at Stand M85, where attendees can book meetings and explore how SOFTSWISS helps partners drive success across Latin America.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 27,800 casino games, the Affilka Affiliate Platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.
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