Virginians bet $377.6M on sports in July

Virginians bet $377.6 million on sports in July, up 28.6% from July 2023, according to Virginia Lottery data released Friday.

July’s handle was a 9% decrease from the $415 million Virginians bet in June. Virginia bettors won $332.67 million last month and nearly $370 million in June.

About $376 million of July’s gross sports gaming revenues came from mobile operators, with the remaining roughly $1.63 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 July, the state’s casinos reported $59.3 million in gaming revenues.

The licensed operators included in July’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
• Twin River Management Group
• Penn Sports 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 10 operators reporting net positive AGR for July, state taxes for the month totaled $6.1 million.  Of that, 97.5% — about $5.9 million — will be deposited in the state’s general fund. The remaining roughly $151,000 will go to the Problem Gambling Treatment and Support Fund, which the Virginia Department of Behavioral Health and Developmental Services administers.

In early August, Virginia Lottery reported a record $5.5 billion in sales for fiscal 2024 and record profits of $934 million.