Share
December was a successful month for Virginia sportsbooks, which collected the highest gaming revenue since the beginning of 2023.
Virginians gambled $633.18 million on sports, a 25.9% increase from last December but a slight monthly drop of 0.88%.
Of the total betting handle (also known as total bets), players spent:
- $625.52 million using online sportsbooks
- $7.67 million through retail locations
After all the necessary deductions, Virginia operators took in $57.19 million in adjusted gross revenue (AGR).
Virginia sportsbooks set a new revenue record in December, going above $57M
As mentioned, the Virginia Lottery’s December report shows the operators generated $57.19 million in revenue last month. Of that amount:
- Online sportsbooks collected $56.27 million
- Retail locations took in $916,071
Despite a slight monthly drop in betting handle, Virginia’s December revenue total represents an impressive 57.30% month-over-month increase from VA’s November 2023 revenue of $36.35 million.
December was the best revenue month for Virginia sports betting this year, and here’s how the monthly revenue figure changed throughout the entire 2023:
- January: $42,127,492
- February: $28,385,249
- March: $47,651,362
- April: $38,932,367
- May: $42,547,380
- June: $26,434,330
- July: $28,210,927
- August: $27,905,144
- September: $45,616,219
- October: $56,364,083
- November: $36,354,936
- December: $57,187,962
With $63.61 million in gross gaming revenue, Virginia sportsbooks also showed their second-best month ever.
Virginia tax payments rise back up to $8.5 million
Per sports betting law, Virginia imposes a 15% tax rate of total AGR. As a result, the commonwealth collected $8.47 million in state taxes throughout December. The number is a 5.47% monthly increase from November’s $5.48 million.
Of the state tax on sports betting AGR, 97.5% goes to 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. So, from the total $8.47 million:
- $8,254,131.48 went towards the General Fund Allocation
- $211,644.40 went to Problem Gambling Treatment and Support Fund Allocation
In its monthly report, the Virginia Lottery does not disclose handle and revenue figures by operator. What is known, however, is that all ten operators finished the month with positive AGR, making them eligible to pay taxes.
