Virginia shatters sports betting revenue, handle records in November

Virginia set new records in sports betting revenue and handle in November, according to the latest data published by the Virginia Lottery. Gross revenue hit $80.6 million in the month, 121.4% ahead of November 2023 and 64.5% above October 2024.

The figure also shattered the former adjusted gross revenue (AGR) record of $67.5 million, set in January 2024, by 19.4%. Almost all AGR came from online betting, with some $79.9 million of all revenue attributed to mobile and just $666,689 corresponding to retail revenue.

Sports wagering handle in the Old Dominion also reached a new all-time high for the second consecutive month in November, with player spending soaring to $761 million across both online and land-based betting. The figure eclipsed last year's handle by 19.1% and the previous record of $696.1 million, set in October, by 9.3%.

The month also marked the first time Virginia has surpassed $700 million in handle. Of the total, $756.8 million was spent online, while $4.2 million was wagered with sportsbooks at land-based casinos. Players won $674.6 million from sports betting during November, marking a hold of 10.60%.

November's record activity led Virginia to collect an all-time high of $12.1 million in taxes, of which the lion's share at $11.8 million went to the General Fund Allocation. The remaining $302,529 was allocated to the Problem Gambling Treatment and Support Fund Allocation.

The previous monthly high for sports betting taxes was January 2024, a month in which the activity led to a collection of $9.9 million. Virginia taxes sports betting at a rate of 15% on adjusted gross revenue.