Virginia sports betting handle reaches $403.7m in May
Bets were up by 14.9 per cent year-on-year.
US.- Virginia’s sports betting handle was $403.7m in May, according to the Virginia Lottery. That’s a rise of 14.9 per cent compared to May 2022 but a 5.2 per cent decrease compared to $403.7m in April 2023. Virginia sportsbooks have accepted nearly $2.3bn in wagers in 2023.
Mobile operators took in $399.9m for May, down 5.3 per cent from April. Retail sportsbooks saw their handle rise from $3.5m in April to $3.7m. Virginia’s bettors won $355.6m, meaning sportsbooks kept just over $48.1m in gross revenue (and $42.5m in taxable revenue after deductions), a 11.9 per cent hold.
The state took in $6.4m in taxes for May, putting the state’s cut at over $30m for 2023. Virginia’s operators have surpassed $1bn in gross revenue since sports betting became legal in January 2021, joining New York, New Jersey, Nevada, Illinois, Indiana, and Pennsylvania.
See also: Virginia launches problem gambling treatment committee
Casinos in Virginia
The Virginia Lottery has also released its report on casino gaming activity from Hard Rock Hotel & Casino Temporary Bristol, Rivers Casino Portsmouth and Caesars Danville for May. Gaming revenue from the Virginia casinos totalled $45.5m, a new record for the state and $10m over April’s $35m.
Commercial casinos only opened in Virginia last year. There are three venues: the permanent Rivers Casino Portsmouth and two temporary casinos, Hard Rock Bristol and Caesars Danville. There are expected to be at least five Virginia casinos in operation within the next couple of years.
