Virginia Sports Betting Sees Significant Recovery in August

In August, Virginia’s sports betting market showed a remarkable resurgence, with a robust recovery in both revenue and player engagement. The state’s adjusted gross revenue from sports betting reached an impressive £58.3 million. The state’s betting revenue not only surpassed figures from August 2024 by 66.6%, but it also represented a 27.9% increase from July of this year.

A closer look at the revenue sources reveals that £57.3 million was generated from online betting platforms, while land-based sportsbooks contributed approximately £938,895.

The total handle for August reached £510.2 million, showing a 22.4% increase from the previous year and an 18.8% rise compared to July.

Online vs. Retail Betting

• Online Wagering: £506.3 million
• Retail Sportsbooks: £3.9 million

Monthly Hold and Payouts to Bettors

Virginia’s sports betting market maintained an overall monthly hold of 11.43%, which is indicative of a healthy balance between operator revenue and payouts to bettors. In total, consumers received back £447.3 million from their wagers, with the vast majority—over £444.4 million—coming from online betting.

Tax Contributions to the State

The state’s tax revenue from sports betting activities amounted to £8.7 million. Most of this revenue, approximately £8.5 million, was allocated to the General Fund Allocation, while £216,956 was directed towards the Problem Gambling Treatment and Support Fund Allocation. Virginia imposes a 15% tax on sports betting revenue, which is applied to each licence holder’s adjusted gross revenue.

While the Virginia Lottery does not provide a detailed breakdown of the active betting operators, it has confirmed that 14 mobile operators and three casinos were authorised to accept wagers in August.