The Virginia Lottery has released its latest sports betting report for October and the state’s online and retail sports betting operators collected $696 million in wagers. It marks a 21.8% year-on-year increase. Last October, the handle was around $571 million.
Mobile operators accounted for more than 99% of the total handle, collecting $692.2 million, while bettors wagered around $3.9 million at retail casinos that offer sports betting in VA.
The operators collected more than $49 million in adjusted gross revenue in October, holding 7.8% of the total handle. This hold is down compared to 11.2% last October.
| October 2024 | Online | Retail |
|---|---|---|
| Sports betting handle | $692.1 million | $3.9 million |
| Adjusted gross revenue | $48.7 million | $232,925 |
The hold was also down from 11.5% in September. Handle rose 11.9% month-on-month, while revenue fell 25.6% from $65.9 million.
The operators contributed more than $7.3 million in taxes during the month, which supports the state’s General Fund and the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services.
Strong month for VA’s NFL team
The drop in hold comes amid mixed results in the 2024-25 regular NFL season from the Washington Commanders, the most popular team in Virginia.
Virginia is the most populous state in the U.S. that doesn’t have a major league sports franchise within its borders. However, both the Commanders and the NHL’s Washington Capitals are headquartered in Northern Virginia and are widely supported across the state.
So far this season, the Commanders have won seven games and lost five. However, October was a particularly solid month for the team, as they won three of four games, including against the Cleveland Browns, Carolina Panthers, and the Chicago Bears. The lower hold follows a national trend in which sports bettors profited from favorable NFL outcomes.
Virginia sports betting options
In Virginia, bettors have the choice of three retail sports betting operators and 12 legal Virginia sports betting sites. The online options include DraftKings, FanDuel, BetMGM, Caesars, Fanatics, BetRivers, bet365, ESPN BET, Hard Rock Bet, Bally Bet, Betr, and Sporttrade, which was the latest to launch in the state at the end of October. With this newest addition, the Virginia Lottery could be reporting an even higher handle next month.
After the U.S. Supreme Court overturned the Professional and Amateur Sports Protection Act in 2018, Virginia lawmakers eventually approved legal sports betting in April 2020, with online sportsbooks launching nine months later. 2020 was a busy year for the Old Dominion, as this was also when voters approved brick-and-mortar casino gaming in four cities – Bristol, Danville, Norfolk, and Portsmouth. Caesars Virginia, located in Danville, is the latest to open its doors on Dec. 12.
The state is now also set to start construction on its fifth casino. The $1.4 billion Live! Casino & Hotel Virginia was approved by Petersburg voters earlier this month.
