Virginians wagered $545M on sports in February

Virginians bet $545 million on sports in February, 25.6% more than in February 2023, according to data released Monday by the Virginia Lottery.

February’s handle was a 16.5% decrease from the $652.87 million Virginians bet in January. Virginia bettors won approximately $495 million in February and more than $587.5 million in January.

About $540 million of February’s gross sports gaming revenues came from mobile operators, and the remaining roughly $4.9 million came from casino retail activity. Virginia currently has three casinos: the temporary Bristol Casino: The Future Home of Hard Rock, the permanent Rivers Casino Portsmouth and the temporary Caesars Virginia casino in Danville. In February, Virginia’s gaming revenues from casinos totaled $57.3 million, according to the Virginia Lottery.

The licensed operators included in February’s reporting were:

• Betfair Interactive US (FanDuel) in partnership with the Washington Commanders
• Crown Virginia Gaming (Draft Kings)
• BetMGM
• Rivers Portsmouth Gaming (Rivers Casino Portsmouth)
• Caesars Virginia
• WSI US
• Twin River Management Group
• Penn Sports Interactive
• Unibet Interactive
• Colonial Downs Group
• Digital Gaming Corporation VA
• VHL VA
• HR Bristol
• Hillside (Virginia)
• DC Sports Facilities Entertainment
• Betr VA
• PlayLive Virginia.

Virginia places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue (total wagers minus total winnings and other authorized deductions). With 11 operators reporting net positive AGR for February, the month’s taxes totaled $6.3 million, of which 97.5% — about $6.18 million — will be deposited in the state’s general fund. The remaining approximately $158,570 goes to the Problem Gambling Treatment and Support Fund, which the Virginia Department of Behavioral Health and Developmental Services administers.