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November Sports Betting Topped $638M In Virginia, Up 23% Annually

The Virginia Lottery announced sportsbooks generated $638.8 million in total bets, leaving them with $36.35 million in revenue for November.

Virginia's Ryan Dunn Celebrates At NCAA Basketball Game
Photo by Michael Caterina / AP Photo
Katarina Vojvodic Avatar
2 mins read

Virginia retail and online sports betting operators combined to take $638.83 million in total bets in November, a month-over-month and year-over-year increase.

But the operators can’t benefit much from a betting handle if the revenue decreases, which happened to Virginia sportsbooks in November, according to the Virginia Lottery, the body responsible for gambling regulation.

As the state law imposes a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue (defined as total bets minus total winnings and other authorized deductions), Virginia operators made just $36.35 million in revenue.

Virginia’s betting handle is among the best in the country

Virginia’s November betting handle is a 23.13% increase from last November. The figure is also an 11.81% increase from October’s $571.35 million.

Of the $638.83 million in November betting handle:

  • $632.23 million came from online sportsbooks (an 11.79 % monthly rise)
  • $6.60 million came through retail operators (a 14.04% monthly growth)

Virginia was among the top-performing US gambling states during November, and here’s how its monthly handle compared to other states:

  1. New York: $2,109,294,400
  2. New Jersey: $1,623,072,184
  3. Pennsylvania: $934,130,152
  4. Nevada: $921,619,677
  5. Massachusetts: $654,857,014
  6. Virginia: $638,831,057
  7. Michigan: $584,142,443
  8. Maryland: $550,716,329
  9. Tennessee: $517,141,377
  10. Indiana: $513,672,424

Virginia gaming revenue declines in November

During November, Virginia operators’ revenue was $36.35 million of which online sportsbooks made $35.97 million, while $380,072 came from retail locations.

Despite an increase in sports betting handle, Virginia gaming revenue decreased from October and November of last year:

  • Month-over-month revenue dropped 35.50%
  • November revenue figure is also a 31.18% fall from the same time last year

Here’s how the monthly revenue figure fluctuated since the beginning of the year:

  • 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

Virginia tax payments dropped to $5.5 million in November

The total tax payments to the state of Virginia also declined from October’s $8.55 million to $5.48 million in November.

The statute requires 97.5% to go to the state’s General Fund and 2.5% to the Problem Gambling Treatment and Support Fund.

According to the Virginia Lottery’s monthly revenue report, in November:

  • $5.34 million went to the General Fund (a monthly decrease of $3 million)
  • $137,013.80 went towards Problem Gambling Treatment and Support Fund (over $76,000 monthly decline)
Katarina Vojvodic Avatar
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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 PlayCanada.com. 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.

View all posts by 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 PlayCanada.com. 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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