Virginia sportsbooks generated a sports betting handle of $760.9 million in November, a 19.1 percent increase over November 2023. Sportsbooks walked away with $80 million in revenues from that handle.
Online sports betting operators generated $756.7 million in handle, accounting for more than 99.4 percent of the handle. Retail sportsbooks added $4.2 million. Retail sportsbooks contributed more than $666,000 million in revenues, while online operators took $79.9 million in adjusted gross revenue.
The Virginia Lottery collected $12.1 million in taxes from this amount, and state law dictates that 97.5 percent of this is contributed to the General Fund. The remaining $302,000 is contributed to the Problem Gambling Treatment and Support Fund Allocation, which is overseen by the Virginia Department of Behavioral Health and Developmental Services.
While the sports betting industry in Virginia thrives, the casino industry has been stealing headlines recently. Caesars Virginia opened its doors in mid-December.
Meanwhile, national intelligence and security agency members warned against building a casino in Fairfax County. According to these experts, the casino’s proximity to nearby military and intelligence facilities will threaten national security.
