After Nine Straight Months, Virginia June Sports Gambling Handle Drops Below $400M

Written By Katarina Vojvodic on August 1, 2023
Virginia June Sports Betting Revenue Report

Although Virginia sports betting handle and revenue in June increased from 2022, the numbers were down from May, according to the Virginia Lottery. It’s the first time the handle dropped below $400 million after nine months of topping that figure.

From June 1 until June 30, Virginia online and retail sportsbooks generated:

  • Gross Gaming revenue: $325,455,052
  • Gross winnings: $292,787,028
  • AGR (Adjusted Gross Revenue): $26,434,330

Virginia state law places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue (AGR). The number is calculated as total bets minus total winnings and other authorized deductions.

Virginia sports betting numbers decrease in June

According to Virginia lottery data reflecting June, players wagered $325.46 million, also known as the betting handle. The figure shows a 10.2% yearly increase from last June ($295.2 million). However, the number is a 19.4% monthly decrease from the $403.7 million wagered between May 1 and May 31, 2023. June also marks the first time after nine months in a row that the handle went below $400 million.

Throughout June, Virginia players won a total of $292.8 million for a combined 10.04% operators win (hold) percentage. The number is an 8.74% yearly increase from June 2022’s $269.27 million. At the same time, it is a 17.66% monthly decrease from the $355.6 million set in May.

Combined, Virginia sportsbooks and retail casinos generated $26.43 million in AGR. Although the number represents over 103% yearly increase from June 2022, it is still a 37.8% monthly decrease from May’s $42.5 million.

Virginia operators contribute to $3.9 million in tax payments

Twelve out of sixteen operators reported net positive AGR for June. That led to $3.9 million in tax payments for the month. Here’s a bigger scope:

  • General Fund Allocation: $3,841,208.48
  • Problem Gambling Treatment and Support Fund Allocation: $98,492.53
  • Total Tax: $3,939,701.01

Of the state tax on sports betting AGR, the statute requires 97.5% to be deposited in the state’s General Fund. The remaining 2.5% goes toward the Problem Gambling Treatment and Support Fund, administered by the Virginia Department of Behavioral Health and Developmental Services.

Photo by PlayUSA
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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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