Virginia welcomed a new sportsbook this week. Las Vegas-based SuperBook Sports announced its online sportsbook launch in Virginia, bumping up the number of mobile books in the state to 16.
The launch marks the ninth state in which SuperBook Sports operates an online app. CEO Mark Lipparelli said in a SuperBook Sports press release:
“We couldn’t be happier with our continued growth. We are thrilled to be live in Virginia and feel confident that we have a great product with a strong history that will become a fast favorite of sports bettors in the region.
Sports fans in the region can find all their favorite teams and get in the action with some of the best sports traditions in the country.” Bettors can download the SuperBook Sports app from Apple and Google stores, as well as from SuperBook.com.
What the Virginia launch means for SuperBook Sports
Growth has been SuperBook’s focus for the past year, and its debut in Virginia punctuates that mission.
Since October 2022, the company has entered four online sports betting markets: Virginia, Maryland, Ohio, and Iowa. Those four states added to the five in which SuperBook was already operating:
- New Jersey
SuperBook focus is on bigger markets
The Virginia launch is an important one because it adds another top-tier sports betting market to SuperBook’s portfolio. Every state the company operates in is in the top 15 markets for the all-time handle.
Every month, Ohio, New Jersey, Maryland and Nevada are consistently among the best states for handle and revenue. And while Virginia isn’t quite at the level of those states, it still generates healthy handle and revenue numbers.
For example, Virginia sportsbooks totaled more than $290 million in July handle and more than $28 million in revenue.
Those big markets are key for SuperBook. Because it’s not as well-known as brands like BetMGM, DraftKings, and FanDuel, it will have to fight harder for revenue share.
Entering larger markets like those in Ohio and New Jersey means that SuperBook’s smaller share will equate to, in theory, more revenue. The company doesn’t seem interested in smaller markets such as South Dakota, Montana, and Wyoming.
This year seems to punctuate that point, SuperBook Sports launched in Ohio and Maryland—both big revenue markets—before Virginia.
SuperBook Executive Vice President of Race & Sports Book Operations Jay Kornegay said:
“Going live in Virginia is a perfect complement to our quickly growing business in Maryland. With our heritage and the passion that fans bring in that area, it is sure to be a great fit.
We pride ourselves on our expansive menu and will have great offerings for everything from the Commanders to the Ravens and the Nationals to our proud partners, the Orioles.”