The handle at Virginia sportsbooks was reported on Friday, and it tipped the nationwide total handle over a significant mark.
With Virginia’s $622 million-plus in handle, or wagers accepted, the national sports betting handle for 2024 cleared $100 billion. That’s just nine months into the year, and that’s before Illinois or Arizona report their September figures.
For perspective, in 2023, the national figure did not exceed $100 billion until the November numbers were reported.
Virginia Wagering Active In September
Virginia’s sports betting figures for September were released on Nov. 1 (The Virginia Lottery typically reports sports betting handle and revenue one day after the following month ends). The state reported $622,060,604 in wagers for September, and that put the U.S. cumulative handle in the nine-figure range for 2024 – at $100,338,913,850, to be exact.
BetVirginia.com updates our Virginia sports betting revenue and handle page each month; see that story for more details on the state’s current numbers and sports betting history.
We don’t have final September figures, with two states left to report. But the nationwide handle for the month has already surpassed September 2023, when Americans placed $11.592 billion on sports wagers at legal, regulated sites. For September 2024, including Virginia, that figure is at $11.975 billion. If Illinois and Arizona combine for $1.7 billion, which they did in September 2023, the national handle will smash last year’s comparable figure by more than $2 billion.
Most of the action comes via mobile phones, laptops or desktop computers. Virginia sportsbook apps operators offer those convenient methods, and 98% to 99% of sports wagers in Virginia are placed online each month.
National Sports Betting, 2024 vs. 2023
What are the factors what led to 2024 being a much bigger year for sports betting handle than 2023? See the chart below for year-over-year comparisons for each month, through September – again keeping in mind that September 2024 figures are incomplete without Illinois and Arizona. Below that, we offer some reasons for this growth.
| 2024 handle | 2023 handle | Change |
January | $13.885B | $11.493B | Up 21.4% |
February | $11.334B | $9.041B | Up 25.4% |
March | $13.924B | $11.258B | Up 23.7% |
April | $12.077B | $9.171B | Up 31.7% |
May | $11.039B | $8.149B | Up 35.5% |
June | $9.095B | $6.613B | Up 37.5% |
July | $7.924B | $5.901B | Up 34.3% |
August | $9.085B | $6.678B | Up 36.0% |
September* | $11.975B | $11.592B | Up 3.3% so far |
Cumulative | $100.339B | $79.896B | Up 25.6% so far |
* – Incomplete for September 2024; does not include Arizona or Illinois
Why Is Handle Up So Much?
The more sports betting markets mature, the more action they take on. States often add more operators after starting with a certain number.
Also, states often expand the types of wagers and number of sports that are approved for betting, even after they launch. Check out the current Virginia sports betting catalog, offered by the Virginia Lottery website, and you will see a vast array of leagues and events that are open for legal wagering in the commonwealth.
Another reason for the year-over-year increase is that there are simply more states offering legal, regulated sports betting. Neighboring North Carolina launched its online sportsbooks in March, vastly expanding a practice that had been available only at a few brick-and-mortar wagering outposts before then. After just six full months plus part of March, North Carolina has accepted more than $3.518 billion in sports wagers, becoming one of the states that consistently finishes in the top 10 each month for handle.
Ohio and Massachusetts, major hubs for sports wagering, both launched in January 2023. Again, a market reaching maturity produces more handle, so their rise this year is expected. And 2024 is the first full year for Kentucky, which launched in September 2023, plus two small New England markets (Maine and Vermont).
Another factor is that promotional offers, such as real money Virginia sports betting promos, are becoming more popular and more widely known among those signing up for the first time, or customers adding another operator to their list of wagering options.
In 2023, sportsbooks nationwide combined for more than $121 billion in handle. And don’t forget that, with no October figures for 2024 yet, we have barely scratched the surface of football wagering this year.
At the current pace, and accounting for about a 25% to 30% increase in monthly sports wagering compared to last year, we project that the national handle will exceed $155 billion and perhaps reach $160 billion by the time December figures are all reported, some time in February 2025.
There’s even more excitement in the DMV as the area’s NFL team has been one of the biggest surprises in 2024. Check out our Washington Commanders playoff chances page for more.
