Virginians wager $609M on sports in April

Virginians bet more than $609.71 million on sports in April, 8.2% more than they bet in April 2024, according to Virginia Lottery data released Friday.

Virginia bettors won more than $546.92 million in April.

About $603.71 million of April’s gross sports gaming revenues came from mobile operators, with the remaining roughly $6 million coming from casino retail activity. Virginia currently has three casinos: the Hard Rock Hotel & Casino Bristol, Rivers Casino Portsmouth and Caesars Virginia in Danville. In April, the state’s casinos reported a total of almost $78.76 million in adjusted gaming revenues.

Casino development continues in the commonwealth. Construction on the $750 million Norfolk casino began in February. In Petersburg, the $1.4 billion Live! Casino & Hotel Virginia held a groundbreaking in March. Rivers Casino Portsmouth and Rush Street Gaming have plans to begin building a $65 million hotel in Portsmouth this summer.

April’s sports handle was an almost 12% decrease from the $689.66 million that Virginians bet in March.

“Virginia’s handle dropped to just over $609 million in April, which is a typical post-March Madness slowdown. But the real story is in [adjusted gross] revenue — sportsbooks posted a 24.5% increase, despite the dip in betting volume,” Christopher Boan, an analyst with sports betting vendor BetVirginia.com, said in a statement.

May and June are typically quieter betting periods, Boan added.

The licensed operators included in April’s sports revenue 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
• Bally’s Interactive
• Penn Sports Interactive
• Colonial Downs Group
• HR Bristol
• Hillside (Virginia)
• DC Sports Facilities Entertainment
• Betr VA
• PlayLive Virginia
• Sporttrade 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 April, state taxes for the month totaled more than $8.5 million.

Of that, 97.5% — about $8.3 million — will be deposited in the state’s general fund. The remaining approximately $212,900 will go to the Problem Gambling Treatment and Support Fund Allocation, which the Virginia Department of Behavioral Health and Developmental Services administers.