Handle up 8.2% from October 2022
Published
December 1, 2023
Katherine Schulte
Virginians wagered $571 million on sports in October, up 8.2% from a year ago, according to data released Friday by the Virginia Lottery.
About $565.5 million in sports betting revenue came from mobile operators, and the rest, roughly $5.7 million, came from casino retail activity. Virginia’s current casinos are the temporary Bristol Casino: The Future Home of Hard Rock, the permanent Rivers Casino Portsmouth and the temporary Caesars Virginia casino in Danville. Virginia casino gaming revenues in October totaled $49.6 million, according to the Virginia Lottery.
October’s sports betting revenues were a 9.8% increase from September’s handle, which totaled about $520 million. Virginia sports bettors won about $507 million in October and approximately $466 million in September.
The licensed operators included in October’s reporting were:
- Betfair Interactive US (FanDuel) in partnership with the Washington Commanders,
- Crown Virginia Gaming (Draft Kings),
- BetMGM,
- Rivers Portsmouth Gaming (Rivers Casino Portsmouth),
- Caesars Virginia,
- WSI US,
- Twin River Management Group,
- Penn Sports Interactive,
- Unibet Interactive,
- Colonial Downs Group,
- Digital Gaming Corporation VA,
- VHL VA,
- HR Bristol,
- Hillside (Virginia),
- DC Sports Facilities Entertainment,
- Betr VA,
- and PlayLive Virginia.
Virginia places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue. With nine operators reporting net positive adjusted gross revenue for October, the monthly taxes totaled $8.55 million, 97.5% of which will be deposited in the state’s general fund. The remainder, about $213,750, will go to the Problem Gambling Treatment and Support Fund, which the Virginia Department of Behavioral Health and Developmental Services administers.