Virginia’s sports betting operators and tax collectors were glad to see football return in September.
Like many U.S. legal sports betting states, the NFL’s start to the regular season and a full month of college football drove big action in the Commonwealth.
The Virginia Lottery reported that 12 online sportsbooks and three retail operators combined to produce $71.5 million in gross revenue, up 32.3% year-over-year. Adjusted revenue of $65.9 million rose even higher to 44.4% compared to Sept. 2023.
Behind an 11.5% hold on a September handle of $622.1 million, up early 20% year-over-year, the monthly revenue ranked second all-time. The amount wagered was the fifth-best since sports betting launched in Old Dominion over two years ago.
Virginia Lottery reported that 10 operators reached positive adjusted revenue, leading to $9.9 million of tax revenue for the state at a 15% rate.
| September | Online | Retail |
|---|---|---|
| Sports betting handle | $618,318,210 | $3,742,394 |
| Adjusted gross revenue | $65,292,221 | $572,075 |
Pigskin effects
The full effects of football were felt with online sports betting’s handle of $618.3 million, up from $414.8 million generated in August. September’s 11.4% hold was up nearly three points from the previous month, while gross revenue jumped 84% month-over-month.
Retail sportsbooks also felt a significant jolt, as the handle rose 94% compared to the previous month for Virginia sports betting. Gross revenue went from $415,000 in August to over $572,000 in the first month of fall.
Casino revenue decreases
Virginia Lottery recently reported that the three land-based casinos produced $56.6 million in adjusted gaming revenue, down 10.3% month over month.
Gaming profits still generated $11.4 million in taxes for Virginia. Rivers Casino Portsmouth hauled in the bulk of the revenue as the casino made $24.2 million from table games and slots.
Caesars Virginia brought in $18.3 million, while HR Bristol made $14.1 million — down from August’s figure of $15.9 million.
