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, October vs. September

Virginia Sports Betting Handle and Revenue: October 2024

The 10th month of the calendar year delivered strong returns for Virginia sports betting operators, setting a record for wagers accepted (or handle).

Virginia had an 11.9% month-over-month increase in total handle offsetting a 25.6% slump in adjusted gross revenue in the Old Dominion.

Overall, Virginia sportsbooks finished October with a handle of $696,103,392 from retail and mobile outlets combined. That was up 11.9% from September’s total of $622,060,604 and set a single-month state record, knocking off January’s previous high of $652,879,750.

The tale was much the same when broken down by mobile sports betting handle, as Virginia sports betting operators took in $692,177,355 during October, up 11.9% from September’s total of $618,318,210 and breaking January’s previous record high of $646,246,293 along the way.

As far as revenues were concerned, Virginia sports betting operators weren’t quite so lucky, finishing October with $49,002,389 in adjusted gross revenue, down 25.6% from September’s total of $65,864,297. The Commonwealth’s mobile AGR of $48,769,464 was down 25.3% month-over-month, from $65,292,221 in September.

Finally, Virginia’s sports betting tax bill for October finished up at $7,349,324, down 25.6% month-over-month from September’s total of $9,875,140, thanks to the Commonwealth’s drop in revenue. The Old Dominion’s mobile sports betting tax bill decreased 25.3%, from September’s total of $9,789,368 to $7,314,390.

The Virginia Lottery doesn't release information about handle or revenue breakdowns for individual operators.

Virginia Mobile Sports Betting History