Virginians bet nearly $653M on sports in January

Virginians bet more than $652.87 million on sports in January, up 27.2% from January 2023, according to data released Friday by the Virginia Lottery.

January’s handle is a 3.11% increase from December 2023, when Virginians bet about $633 million on sports. Virginia bettors won more than $578.5 million in January and more than $569.57 million in December.

About $646 million of January’s gross sports gaming revenues came from mobile operators, with the remaining roughly $6.6 million coming 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 January, Virginia’s gaming revenues from casinos totaled $52.86 million, according to the Virginia Lottery.

The licensed operators included in January’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. With 10 operators reporting net positive AGR for January, the month’s taxes totaled about $9.9 million, of which 97.5% — about $9.68 million — will be deposited in the state’s general fund. The remaining roughly $248,300 will be deposited in the Problem Gambling Treatment and Support Fund, which the Virginia Department of Behavioral Health and Developmental Services administers.