Virginia Sports Betting Revenue And Handle

The experts at BetVirginia.com have assembled this guide to explain what we mean when we talk about revenue and sportsbook handle for Virginia sports betting that the state reports each month.

There is an active market with many online or mobile operators as well as a growing number of retail sports wagering options at brick-and-mortar casinos in the commonwealth.

The handle is simply the total dollars wagered on sports in the state each month. In Virginia, bettors wager hundreds of million of dollars each month. From the time legal sports betting launched in January 2021 to early 2023, legal, regulated sports bets were placed exclusively with online sportsbooks. Since then, physical casinos have begun taking retail wagers on sports, albeit in much smaller numbers.

The revenue refers to the amount that operators have left after they pay out winning bets. From there, bookmakers pay 15% tax to the state on the adjusted gross revenue. Those operators often offer Virginia sportsbook promo codes to their customers.

Virginia Sports Betting, November vs. October

Virginia sports bettors and operators established several records in November, according to data from the Virginia Lottery.

Licensed sportsbooks in the Old Dominion accepted $760,965,450 in wagers for November. That was 9.3% better than October’s $696,103,392, which was the state’s previous record for handle in a month.

Mobile wagering accounted for 99.4% of the handle, with the $756,761,150 bet through apps and websites in November. That was also a 9.3% increase from October’s $692,177,355, which was also the previous record.

Operators reported record adjusted gross monthly revenues of $80,644,860 – a number that was the linchpin of another batch of state records. November’s revenue topped the previous mark of $67,507,323 set in January 2024. November’s total was up 64.6% from the $49,002,389 operators earned in October.

Mobile revenues also set a record, with November’s $79,978,171 breaking the previous mark of $66,627,755 set in January 2024. It also was a 64% improvement from the $48,769,464 operators reported in October.

With revenues setting records, Virginia’s tax receipts derived from wagering in sports did as well. The $12,101,176 the commonwealth received in November topped the $9,932,122 from January 2024. State tax revenues were also up 64.7% from the $7,349,324 reported for October.

Taxes from mobile operators totaled $12,001,136 in November, which broke the record of $9,831,208 from the first month of 2024. That figure was also a 64.1% increase from $7,314,390 in the previous month.

The Virginia Lottery does not report handle or revenue figures by operator.

Virginia Mobile Sports Betting History