Virginia’s sports betting market had a strong end to 2024, with bettors wagering $734.4 million in December, a 16% increase from the same month in the previous year. Data from the Virginia Lottery showed that bettors won $684.8 million, resulting in an operator hold percentage of 6.75%. The adjusted gross revenue for December was $43.89 million, generating $6.6 million in state tax revenue.
Under Virginia law, sports betting revenue is taxed at 15%, with 97.5% allocated to the state’s General Fund and 2.5% to the Problem Gambling Treatment and Support Fund. In December 2024, the tax revenue amounted to $6,598,301, with $6,433,344 going to the General Fund and $164,958 to the Problem Gambling Treatment and Support Fund.
Mobile operators dominated the market, handling $729.5 million in total wagers and generating $43.9 million in AGR. Retail sportsbooks at Virginia casinos saw lower activity, with $4.89 million in bets and $12,883 in AGR. Virginia’s sports betting industry continues to grow steadily, driven by increased consumer participation and an expanding number of operators. The state’s sports betting market shows potential for further growth in the coming years.
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