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, December vs. November

Total Handle Mobile Handle Revenue
December$633.182M$625.516M$57.188M
November$638.831M$632.233M$36.355M
Change Down 0.9% Down 1.1% Up 57.3%

Virginia Sports Betting Handle and Revenue: December 2023

Virginia compiled a solid handle to close out the calendar year. The handle was down slightly from November but revenue and taxes surged.

The total handle for Virginia sports betting was $633,181,758 in December, which was down 0.9% from November’s sum of $638,831,057, but up 25.7% year-over-year from the $503,075,150 the state took in last December.

For revenue, Virginia sportsbooks finished December at $57,187,962, which was up 57.3% month-over-month (from November’s total of $36,354,936).

That surge in sports betting revenue meant the state’s tax bill jumped 54.5% month-over-month, going from $5,480,552 in November to $8,465,776 in December. That total represented a 20.5% year-over-year increase from the $7,026,829 the operators took in during December 2022.

For the year at-large, Virginia sportsbooks finished with a total handle of $5,590,022,862, which was up 13.7% from a year ago ($4,914,954,449). The state’s mobile sports betting handle ($5,357,427) was up 12.7% from 2022’s total of $4,914,954,449.

The yearly sports betting revenue figure ($447,717,451) was up 28.5% from 2022’s total of $348,313,222, putting the finishing touches on a historic year for wagering in Virginia.  

Virginia Mobile Sports Betting History

Virginia Sports Betting Handle and Revenue FAQs

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The experts at BetVirginia who bring you the latest updates in Virginia sports betting. We pull together decades of experience to give you analysis as well as comparisons of the best VA online gambling apps.

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