Virginia August sports betting handle increases 12% to over $319m
The Commonwealth of Virginia reported a jump in handle, but an 11.3% decrease in adjusted gross revenue, though three more operators are now licensed in the state.
The Virginia Lottery has released its sports betting figures for August 2023, which showed that Virginians bet just over $319m and won a total of $286.6m. This shows a 12.1% increase in handle year-on-year, while total adjusted gross revenue (AGR) for the state reached $27.9m, an 11.3% decrease from August 2022.
Virginia law taxes sports betting at 15% and has 16 approved sports wagering permit holders, including BetMGM, Caesars Virginia, Betfair Interactive US (doing business as FanDuel), Penn Sports Interactive, Betr VA and Crown Virginia Gaming (doing business as DraftKings).
Of those 16 operators, 11 reported reaching net positive AGR, which led to $4.2m in tax payments. However, in August 2023, out of 13 sports betting operators, nine reported net positive AGR, which reached $4.5m.
Mobile sports betting generated most of the state’s total AGR, accounting for $27.5m of the total, while casino retail sports wagering activity brought in $410,354. Virginia’s three casinos were either not yet open or not yet providing retail sports wagering in August 2022.
Rivers Casino Portsmouth operates Betrivers Sportsbook, while the temporary Danville casino that will be Caesars Virginia, and the Bristol casino that will become a Hard Rock property, do not have retail sports wagering options on site as of yet.
The Virginia Lottery August casino gaming revenue report shows that the state brought in $55.1m. Gambling is currently permitted in five cities in Virginia with Bristol, Portsmouth, Danville operating gaming venues, while casinos for Norfolk, Richmond and Reston have been proposed.
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