In March, the sports betting handle in Virginia witnessed a substantial increase, surpassing $500,000,000. This marks a significant leap when compared to the figures from both February and March of the previous year.
In March, the Virginia Lottery reported an impressive total of $511,614,541 in bets. Among this amount, Virginia’s mobile sports betting operators contributed $507,025,619, while retail casino activity accounted for $4,588,922.
In March 2025, the overall revenue generated from sports betting in Virginia amounted to $47,651,362.
Virginia sports betting handle increases
In comparison to March 2022, the handle for Virginia sports betting experienced a 9% increase. Furthermore, it marked a significant 17.7% surge from February 2025, where the handle amounted to $433.8 million.
Bettors from Virginia accumulated a whopping $456.4 million in winnings, while the operator enjoyed a win percentage of 10.8%.
Retail betting experienced a surge too, with Bristol Casino and Rivers in Portsmouth witnessing a $1 million increase in revenue, reaching a total of $4.6 million compared to February.
March saw a significant increase in revenue, with $47.7 million, compared to February’s $39.8 million.
When you take into account the sports betting scene in March versus February, these universal increases in betting opportunities become logical. Apart from the Super Bowl, February is generally a quiet month for prominent sports events. However, in March, the NCAA Tournament attracts all kinds of bettors, including experienced gamblers and newcomers.
Virginia sports betting handle, revenue March 2025
| March 2025 Handle | February 2025 Handle | March 2025 Revenue | February 2025 Revenue | |
|---|---|---|---|---|
| Online sportsbooks | $507,025,619 | $430,252,600 | $47,106,308 | $28,345,175 |
| Casino retail | $4,588,922 | $3,554,508 | $545,054 | $40,074 |
| Total | $511,614,541 | $433,807,108 | $47,651,362 | $28,385,249 |
$7.4 million in taxes paid by Virginia operators
Operators in Virginia are obligated by law to pay 15% of their adjusted gross revenue (AGR) as taxes. AGR is calculated by subtracting the total winnings from the total bets. For an AGR of $47.7 million, Virginia operators paid $7.4 million, with 7.5% of that amount allocated to the General Fund. The remaining portion, approximately $185,000, is directed towards the Problem Gambling Treatment and Support Fund.
In March, a total of ten operators in Virginia recorded positive AGR, indicating that six operators did not generate any profit and consequently did not contribute to the state’s taxes for that month.
Recent gambling developments in Virginia
The gambling industry in Virginia is experiencing significant growth, with Betr Sportsbook being the latest sportsbook to obtain a license and commence operations in the state.
On the other hand, Danville’s Caesars Casino, which obtained its license on April 26, may commence operations within this month.
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