Virginia sports betting revenue jumps 39% in February despite shorter month

Virginia’s sports betting industry posted strong year-over-year growth in February, with both handle and revenue increasing despite the shorter month, according to figures released by the Virginia Lottery.  

Total sports betting wagers reached $556.8 million, marking a 2.2% increase compared to February 2024, which had an extra day due to leap year. Online betting dominated the market, with $553 million wagered via mobile operators, while retail sportsbooks accounted for $3.8 million in bets.  

Players won $490 million in payouts, while operators recorded a win percentage (hold) of 11.12%—the highest since September 2022, when it stood at 11.77%. Online hold topped 11.16% and retail 5.41%.

Virginia’s Adjusted Gross Revenue (AGR) for February came in at $61.9 million, reflecting a 39.1% year-over-year increase. However, revenue fell 23.6% from January 2025, aligning with a seasonal dip after the peak NFL playoff betting period.  

Mobile sports betting accounted for $61.7 million of total revenue, while retail sportsbooks generated $206,590.  

Under Virginia’s 15% tax rate on AGR, the state collected $9.3 million in tax revenue for the month.  

• $9.1 million (97.5%) was allocated to the state’s General Fund.  

• $232,599 (2.5%) went to the Problem Gambling Treatment and Support Fund, administered by the Virginia Department of Behavioral Health and Developmental Services.  

With 14 mobile sportsbooks and three retail betting locations operating in February, Virginia’s market continues to expand. The rise in hold percentage and revenue growth suggests operators are benefiting from increased betting activity and favorable results.