Virginians bet more than $556M on sports in February

Virginians bet more than $556.83 million on sports in February, 2.2% more than they bet in the same month the year before, even though February 2024 was a leap year and offered an extra day for wagering.

Virginia bettors won more than $490 million in February, according to Virginia Lottery data released Tuesday.

About $553.02 million of February’s gross sports gaming revenues came from mobile operators, with the other $3.8 million coming from casino retail activity. Virginia currently has three casinos: Hard Rock Hotel & Casino Bristol, Rivers Casino Portsmouth and Caesars Virginia in Danville. Construction has started on Norfolk‘s casino, and in March, officials attended a groundbreaking ceremony for Petersburg’s casino.

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
• 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 10 operators reporting net positive AGR for February, state taxes for the month totaled more than $9.3 million.

Of that, 97.5% — more than $9.07 million — will be deposited in the state’s general fund. The remaining amount, about $232,600 will go to the Problem Gambling Treatment and Support Fund, which the Virginia Department of Behavioral Health and Developmental Services administers.