Virginia sets new sports betting revenue record in January
Sports betting revenue increased by 9 per cent year-on-year.
US.- Virginia’s sports betting handle was $736.6m in January, up 12.8 per cent compared to January 2024, and slightly ahead of December’s handle of $734m. Mobile wagers reached $730.5m while bettors wagered $6.1m at retail locations.
Virginia’s second-higher handle yet produced the highest gross revenue on record. Online and retail sportsbooks made $81m, surpassing the previous record from November 2024 by $1m. The figure was 63 per cent higher than December’s revenue and was up by 9 per cent year-over-year. According to the Virginia Lottery report, bettors won $649.2m and operators held 11.8 per cent.
The Virginia Lottery does not publish a full breakdown of operator performance. However, eleven of the 13 mobile operators and three casinos licensed for betting reported net positive AGR. Tax from the 15 per cent AGR levy on sports betting was $12.1m, with 97.5 per cent going to the state’s General Fund. The remaining 2.5 per cent goes to the Problem Gambling Treatment and Support Fund.
Casinos in Virginia
The Virginia Lottery‘s report on casino gaming activity at Hard Rock Hotel & Casino Bristol, Rivers Casino Portsmouth, and Caesars Virginia for January shows that casino gaming revenue totalled $72.3m, down 3.5 per cent from December 2024’s $74.9m.
Of the total adjusted gaming revenue (AGR), $53.7m came from slots and $18.5m from table games. Hard Rock Bristol generated AGR of $18.5m (slots $15.1m and table games $3.3m), Rivers Casino Portsmouth $25.2m (slots $17.2m and table games $8m), and Caesars Virginia $28.5m (slots $21.3m and table games $7.1m).
