Virginia Sports Betting up by 26.5% During September

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The latest monthly revenue report from the Virginia Lottery shows that the state’s licensed sports betting providers reported accepting over $520.3 million in wagers throughout the month of September.
According to the report, the latest figures represent a 26.5% increase on September 2022’s figure of $411.2 million and a 61.3% increase on the previous month’s sports betting handle. It’s also the largest amount wagered in a single month for 2023 and the second largest handle of all-time. This brings the year-to-date total to $3.7 billion while the all-time figure is now $11.8 billion.
Virginia sports bettors won a total of $466,222,773 during the month. This gave licensed operators a combined win percentage of 10.39%. However, when allowable bonuses and other deductions of just over $8.4 million were taken into account, the actual win rate was 8.76%.
Revenues for the month came to $45.6 million, a year-on-year decrease of 15.2%. Of that figure $44.7 million was generated by online sportsbooks while the retail industry reported revenues of $834,675 for the month. So far in 2023, sportsbooks have generated $381.1 million in revenue while the all-time total now stands at $1.1 billion.
State taxes for the month came to just over $7 million, bringing the year-to-date total to $49.8 million. Since sports betting in Virginia launched in January 2021, the state has collected over $121.9 million in taxes.

Historical Sports Handle, Revenues & Taxes in Virginia

PeriodTotal HandleSportsbook RevenueWin %Adjusted Sportsbook RevenueAdjusted Win %State Taxes
Jan 2021$58,896,564$3,586,0786.09%-$3,235,612-5.49%$39,710Feb 2021$265,778,407$12,238,8804.60%-$3,231,752-1.22%$300,594Mar 2021$304,066,246$26,573,8798.74%$13,845,0124.55%$1,183,531Apr 2021$236,432,524$19,442,3188.22%$11,380,1374.81%$1,652,148May 2021$226,963,573$23,173,54910.21%$15,663,2016.90%$2,381,082Jun 2021$234,943,435$22,006,2969.37%$14,896,8986.34%$2,273,995Jul 2021$161,901,955$19,965,55612.33%$12,691,0207.84%$1,864,433Aug 2021$182,418,852$17,967,4279.85%$8,688,0644.76%$1,378,540Sep 2021$293,851,531$30,929,24310.53%$10,334,3953.52%$1,557,499Oct 2021$427,320,306$30,160,3857.06%$9,785,7002.29%$1,746,204Nov 2021$402,621,132$48,337,03712.01%$29,926,6977.43%$4,233,167Dec 2021$426,596,891$31,515,0157.39%$10,123,3982.37%$1,729,130Jan 2022$485,544,417$39,050,0678.04%$18,220,5673.75%$2,876,609Feb 2022$401,889,135$27,498,1336.84%$7,884,2501.96%$1,406,280Mar 2022$469,484,017$33,700,0167.18%$14,324,4413.05%$2,116,289Apr 2022$399,478,366$36,275,2649.08%$20,761,3815.20%$3,040,327May 2022$351,452,931$42,537,52412.10%$27,524,3277.83%$3,896,270Jun 2022$295,235,271$25,965,1828.79%$12,984,8844.40%$1,871,961Jul 2022$266,001,583$26,024,4089.78%$21,398,7768.04%$3,060,304Aug 2022$284,671,331$36,978,89712.99%$31,442,95911.05%$4,474,131Sep 2022$411,273,323$53,822,28213.09%$48,392,69111.77%$7,257,403Oct 2022$528,029,938$51,164,1999.69%$45,532,9998.62%$6,956,643Nov 2022$518,818,987$57,531,25511.09%$52,825,45010.18%$7,782,639Dec 2022$503,075,150$50,687,27810.08%$47,020,4979.35%$7,026,829Jan 2023$513,154,592$49,721,3279.69%$42,127,4928.21%$6,368,899Feb 2023$433,807,108$39,766,9089.17%$28,385,2496.54%$4,682,125Mar 2023$511,614,541$55,258,91010.80%$47,651,3629.31%$7,413,213Apr 2023$425,982,859$45,121,87810.59%$38,932,3679.14%$5,799,965May 2023$403,719,160$48,144,55011.93%$42,547,38010.54%$6,285,305Jun 2023$325,455,052$32,668,02410.04%$26,434,3308.12%$3,939,701Jul 2023$293,611,789$32,471,39611.06%$28,210,9279.61%$4,115,218Aug 2023$319,005,942$32,359,88810.14%$27,905,1448.75%$4,155,221Sep 2023$520,304,187$45,616,21910.39%$45,616,2198.76%$7,040,531Totals$11,883,401,095$1,148,259,2689.67%$806,990,8506.31%$121,905,896

Ciaran McEneaney Gambling industry analyst with over a decade of experience working with some of the biggest names in the sports-betting, gambling, poker & casino industry.

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