Virginians bet almost $761M on sports in Nov. 2024

Virginians bet more than $760.96 million on sports in November 2024, 19.1% more than they bet in November 2023, according to Virginia Lottery data released Tuesday.

Virginia bettors won more than $674.6 million in November.

About $756.76 million of November’s gross sports gaming revenues came from mobile operators, with the other $4.2 million coming from casino retail activity. Virginia currently has three casinos: the Hard Rock Hotel & Casino Bristol, the Rivers Casino Portsmouth and the Caesars Virginia in Danville. In November 2024, the state’s casinos reported $63.57 million in adjusted gaming revenue.

The permanent Hard Rock Hotel & Casino Bristol opened Nov. 14, 2024, after operating in a temporary casino since July 2022, and the permanent Caesars Virginia opened Dec. 17, 2024; its temporary facility opened in May 2023.

November 2024’s handle was a 9% increase from the approximately $696 million that Virginians bet in October 2024.

The licensed operators included in November 2024’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
• 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
• 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 10 operators reporting net positive AGR for November 2024, state taxes for the month totaled more than $12.1 million.

Of that, 97.5% — more than $11.79 million — will be deposited in the state’s general fund. The remaining approximately $302,500 will go to the Problem Gambling Treatment and Support Fund, which the Virginia Department of Behavioral Health and Developmental Services administers.

Future casinos in the state are expected in Norfolk and Petersburg.

The team behind the delayed Norfolk casino — which has had a change in ownership and has yet to announce its new name — held a groundbreaking ceremony for the casino Oct. 30, 2024. The Pamunkey Indian Tribe remains a partner, but Boyd Gaming replaced Tennessee investor Jon Yarbrough. The entities have scrapped the name HeadWaters Resort & Casino and now refer to it as the Norfolk Casino Resort.

In November 2024, more than 80% of Petersburg voters said yes to the city’s casino referendum.