Virginia sports betting handle reaches record $652.9m in January

Revenue was $74.3m, a year-on-year increase of 49 per cent.

03/06/24

The sports betting handle was up 27.2 per cent year-on-year.

US.- Virginia’s sports betting handle was $652.9m in January, up 27.2 per cent compared to January 2023 and 3.1 per cent higher compared to December. The handle topped the previous record of $638.8m set in November 2023. Mobile wagers dominated the market, accounting for $646.2m.

According to the report from the Virginia Lottery, sportsbook revenue topped $70m for the first time at $74.3m, beating the previous revenue record of just under $64m set in October. January’s revenue represents a 49.5 per cent year-over-year improvement from January 2023 and is almost $11m better than the $63.6m posted in December. The hold rate for Virginia sports betting apps was 11.4 per cent, while brick-and-mortar facilities had a 14.1 per cent win rate.

Adjusted gross revenues were $67.5m, generating $9.9m in taxes.

Casinos in Virginia

The Virginia Lottery previously reported that Hard Rock Hotel & Casino Temporary Bristol, Rivers Casino Portsmouth and Caesars Virginia generated gaming revenue of $52.9m in January. Slots generated $37.9m and table games $14.9m.

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