Virginia Sports Betting Revenue 2025

Published: Dec 11, 2024, 6:14 PM

10 min read

Updated: Jul 22, 2025, 3:09 PM

By:

Sol Fayerman-Hansen

Virginia Revenue Insights

$430M+

Handle; nearly double April 2021.

$38.3M

Estimated GGR at a consistent hold rate (~8.9%).

$5.7M+

Tax revenue fueling schools, health, and addiction support.

11 operators

A mature, competitive market keeping innovation alive.

Overview of Virginia Betting

Virginia has become a major player in the sports betting market since online sports betting was launched in January 2021. Regulated by the Virginia Lottery, the state's sports betting industry has grown quickly.

By the end of 2023, Virginia’s sports betting handle was over $5.5 billion for the year, making it one of the top states in the country. The state taxes operators 15% of their adjusted gross revenue, which generated over $72 million in 2023. These funds are directed into the state’s General Fund, with 2.5% allocated to the Problem Gambling Treatment and Support Fund, administered by the Virginia Department of Behavioral Health. (Virginia Lottery 2024)

Virginia permits both commercial casinos and online sports betting operators. State legislation authorizes up to 12 online operators to conduct sports betting in the state. (American Gaming Association, 2024)

Restrictions on Betting

Virginia enforces specific restrictions on amateur and collegiate sports betting:

Youth Sports: Wagering on youth sports is strictly prohibited.
College Sports: Proposition bets (Prop Bets) on college sports are not allowed. Additionally, wagering on Virginia college sports is prohibited, except for multigame events or tournaments where Virginia teams are participating, as long as the bet does not directly involve a Virginia team.
Legal Age: Sports betting in Virginia is limited to individuals aged 21 years or older.

Interested in how different operators compare? Read our in-depth reviews of businesses in Canada.

Annual Sports Betting Growth in Virginia

All data is pulled directly from the Virginia Lottery annual reports.

Source:

RG

Embed Chart

Monthly Sports Betting Growth in Virginia

Taxes

All data is pulled directly from the Virginia Lottery monthly reports.

Source:

RG

Embed Chart

Virginia Sports Betting Revenue

Year / Month	Handle	Gross Gaming Revenue	Hold %	Tax Revenue
2020	$3,221,791,416	$135,600,220	4.22%	$20,340,033
2021	$4,914,954,449	$345,104,566.67	7.00%	$51,765,685
2022	$5,590,022,862	$481,978,026.67	8.69%	$72,296,704
2023	$6,925,832,328	$615,044,066.93	9.01%	$92,256,610.04
Jan 2025	$736,667,692	$80,916,171.80	10.98%	$12,137,425.77
Feb 2025	$556,836,877	$61,911,473	11.12%	$9,303,967.63
Mar 2025	$689,665,044	$45,085,192	6.54%	$6,754,928.21
Apr 2025	$236,432,523	$11,380,137	4.81%	$1,652,146.82
May 2025	$595,041,428	$67,912,656	11.41%	$10,159,914.09

Latest Updates in Virginia Sports Wagering

November 5, 2024: Voters in Richmond, Virginia, voted against a ballot measure for a proposed casino in the city by a margin of over 60% (Virginia Business, 2024)
October 27, 2024: The Virginia Lottery's October reports show an all-time high for monthly betting handle in the state ($691.1 million). (Virginia Lottery, 2024)
October 10, 2024: Betfred Sportsbook announced it will exit the Virginia market. (SBC Americas, 2024)
September 9, 2024: Spottrade gets a license to begin operations in Virginia. (Sporttrade, 2024)

Virginia Snapshot

Key Aspect	Details
Population	Approximately 8.75 million residents as of 2024. (World Population Review, 2024)
Political Affiliation	Virginia had a divided government with a Democratic governor but a Republican House and Senate. It has voted Democrat in every presidential election since 2008. (270towin.com)
Year Sports Betting Legalized	Sports betting was legalized in 2020, but online and mobile sports betting operations began for the first time in January 2021. (Virginia Department of Behavioral Health and Developmental Services, 2024)
Number of Sportsbooks Operating	There are 12 online sportsbooks: BetMGM, BetRivers, Hard Rock Bet, bet365, DraftKings, FanDuel, Caesars, Fanatics Sportsbook, Sporttrade, ESPN Bet, Bally Bet, and Betr Sportsbook.
Gross Gaming Revenue 2024	$615,044,066.93
Sports Betting Handle 2024	$6,925,832,328.00
Professional Sports Teams	Virginia has local NCAA teams but isn't represented professionally. Many fans support Washington D.C. teams like the Washington Commanders (NFL), Washington Wizards (NBA), Washington Capitals (NHL), Washington Nationals (MLB), Washington Mystics (WNBA), and D.C. United (MLS).

FAQs

General Information

When was sports betting permitted in Virginia?

Online sports betting was legalized in 2020, but online sportsbooks didn't accept wagers until January 21, 2021. (Virginia Department of Behavioral Health and Developmental Services, 2024)

How many sportsbooks operate in Virginia?

There are 12 online sportsbooks in the state: BetMGM, BetRivers, Hard Rock Bet, bet365, DraftKings, FanDuel, Caesars, Fanatics Sportsbook, Sporttrade, ESPN Bet, BallyBet, and Betr Sportsbook.

Market Data

What was Virginia’s total sports wagering handle in 2023?

According to the Virginia Lottery, the state had a wagering handle of $$5,590,022,862.00 in 2023.

How much revenue was generated in 2023?

Virginia's sports betting revenue in 2023 was $489.1 billion, and more than $72.2 million collected in taxes.

Trends and Insights

What are the most popular sports for wagering?

Football is the most bet-on sport driven by interest in the NFL.

What is covered on this page?

This page provides a breakdown of the Virginia sports betting market that includes handle, revenues, and operator updates, all backed by official reports. (Virginia Lottery, 2024)

This website uses cookies to ensure you get the best experience on our website. Read our

.