Virginia’s adjusted gross sports betting revenue nearly doubled in January compared to the previous month, despite a steady handle.
According to data from the Virginia Lottery published on February 28, revenue reached $81 million, marking an 84.5% increase from December and a 20% rise year-on-year.
Many states experienced lower revenue in December due to customer-friendly sports outcomes, but January saw a return to normal market conditions. Breaking down revenue, online betting contributed $80.2 million, while retail sportsbooks generated $830,102.
Total betting handle for January stood at $736.7 million, just 1% higher than December but 12.8% above the same month last year. Of this, $730.5 million was wagered online, while $6.2 million came from retail sportsbooks. The hold rate for the month was 10.99%.
In terms of taxation, Virginia collected $12.1 million from sports betting in January. Of this, $11.8 million was allocated to the General Fund, while $303,436 supported the Problem Gambling Treatment and Support Fund.
The Virginia Lottery does not provide operator-specific data, but in January, 14 online sportsbooks and three retail locations were active in the state.
