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, July vs. June
| Total handle | Mobile handle | Revenue |
July | $429.272M | $427.155M | $45.590M |
June | $477.849M | $472.780M | $57.107M |
Change | Down 10.2% | Down 9.7% | Down 20.2% |
The July sports betting slump bit wagering operators in the Old Dominion this year, with a 10.2% drop in total handle and nearly double that percentage for sports betting adjusted gross revenue in Virginia during the seventh month of the year.
Overall, July’s sports betting handle was $429,272,340 in Virginia, down in a month-over-month comparison with June ($477,848,533). The Commonwealth’s mobile sports betting handle was $427,155,386 last month, a 9.7% decline from June’s $472,780,185, according to figures that the Virginia Lottery posted on Aug. 29.
The total sports betting adjusted gross revenue (AGR) in July was reported at $45,589,775, down 20.2% from June ($57,106,754). Mobile sports betting AGR fell 21.5%, from $57,434,370 the previous month to $45,067,322 in July.
Finally, Virginia’s sports betting total taxes in July were $6,781,017, a 21.8% dip compared to $8,674,412 in June, capping a typically rough summer month for sports betting operators in the Commonwealth.
Virginia Mobile Sports Betting History
Virginia Sports Betting Handle and Revenue FAQs
The Virginia sports betting handle in 2024 was more than $6.925 billion, a 23.9% boost from the 2023 figure of $5.59 billion.
Author
Christopher Boan has been covering sports and sports betting for more than seven years, including stops at ArizonaSports.com, the Tucson Weekly and the Green Valley News.
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