In January 2025, the Virginia Lottery published its sports betting report, revealing an increase in statewide handle compared to December.
According to the most recent figures on sports betting in Virginia, the total amount wagered by residents between January 1 and January 31 reached $513.15 million. This represents an increase of approximately $10 million compared to the betting activity in December 2022.
Virginia operators reported a total hold percentage of 9.69% for the month.
In January, Virginia witnessed a total adjusted gross revenue (AGR) of $42.13 million. Ten sports betting operators contributed to this positive AGR. Let’s delve deeper into the current figures.
A look at Virginia sports betting taxes in January
According to the lottery, after everything is accounted for, 97.5% of AGR is allocated to the Virginia General Fund, while the remaining 2.5% is directed towards the state’s Problem Gambling Treatment and Support Fund.
Virginia sports betting generated a total of $6.37 million in taxes in January. Approximately $6.21 million was allocated to the general fund, while slightly over $159,000 was directed to the Problem Gambling Treatment and Support Fund.
VA sports betting handle ranks sixth nationally
In January, Virginia joined the national trend of mobile sports betting as it experienced significant growth. The residents of Virginia contributed to this trend by wagering an impressive amount of $510.98 million through their mobile devices. Additionally, retail sports betting also saw some activity, generating a handle of $2.17 million.
Compared to other states that have reported their numbers for the month, Virginia’s January handle is among the highest in the country.
With a staggering handle of $1.8 billion, New York takes the lead, setting an impressive example. Ohio and New Jersey closely trail behind, both surpassing the $1 billion mark. Nevada secures the fourth spot with a substantial $935.8 million, while Pennsylvania claims fifth place with a handle of $772.3 million.
In January, Virginia’s sports betting handle exceeded that of Michigan, Maryland, Indiana, and Tennessee, all of which recorded a handle of over $410 million.
Virginia’s year-to-year handle growth a positive sign
Virginia’s gambling industry is experiencing steady growth, with the opening of a second casino and ongoing debates surrounding new locations. Overall, the state is steadily progressing in the gambling sector.
Although the temporary Hard Rock Hotel & Casino Bristol opened last summer, sports betting is not as new in Virginia. In January 2021, Virginia introduced its first legalized sports betting apps, with FanDuel Sportsbook VA being the first to establish its presence in the state. Since then, 14 additional sportsbooks have joined in on the excitement.
Virginia’s January handle for this year reflects an impressive increase of almost 6% compared to the same month in 2022. This growth is indicative of the industry’s sustainability and positive trajectory, particularly noteworthy as it has been two years since its launch.
Betting numbers down from prime football season
In November 2022, the total amount of bets placed by sports bettors in Virginia reached nearly $519 million, which was approximately $6 million higher compared to January of the current year.
Despite the decline, November featured a busy schedule of college and professional football games, highlighting the unparalleled popularity of football in the realm of sports betting.
In January, football continued to be played, albeit on a smaller scale, both in college and professional leagues. The tail end of bowl season featured only a few New Year’s Day games and the College Football Playoff National Championship.
While the NFL postseason was in full swing, it did not offer as many betting opportunities as the month of November, despite its thrilling games on the professional front.
The main idea is that the numbers in January are consistent with the typical trend observed in most states.
Keep an eye out for February’s numbers next month
As previously stated, football continues to be a major catalyst for sports betting throughout the nation. Consequently, the Super Bowl stands out as one of the most significant national sports betting occasions.
When a local team reaches a major sports event, markets typically experience an increase. Nonetheless, it would be wise to monitor the Virginia sports betting statistics for February, regardless of the outcome.
In the previous year, the total amount of wagers made in February reached $401.89 million within a span of 28 days.
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