Virginia’s sports betting market saw a strong close to 2024, with bettors wagering $734.4 million in December, a 16% increase compared to the same period last year, according to data released by the Virginia Lottery.
The report, which includes figures from 13 mobile operators and three retail casinos, showed that Virginia bettors won $684.8 million, resulting in an operator hold percentage of 6.75%.
Virginia’s adjusted gross revenue (AGR) for December totaled $43.89 million, with $6.6 million in state tax revenue generated from the month’s sports betting activity.
Under Virginia law, sports betting revenue is taxed at 15%, with 97.5% allocated to the state’s General Fund and 2.5% directed to the Problem Gambling Treatment and Support Fund.
December 2024 Tax Breakdown:
- Total tax revenue: $6,598,301
- General Fund allocation: $6,433,344
- Problem Gambling Treatment and Support Fund: $164,958
Mobile operators dominated the market, handling $729.5 million in total wagers and generating $43.9 million in AGR. In contrast, retail sportsbooks at Virginia casinos saw significantly lower activity, with $4.89 million in bets and just $12,883 in AGR.
Virginia’s sports betting industry has continued its steady growth, bolstered by rising consumer participation and an expanding number of operators.
Original article: https://www.yogonet.com/international/news/2025/02/03/93955-virginia-sports-betting-handle-hits-734-million-in-december
