Virginia’s March Sports Betting Handle Hits $689.7M as Revenue Climbs 6.4% YoY

Virginia’s sports betting market recorded a total handle of $689.7 million in March, marking an 8% increase from the same month last year and a 23.9% rise from February, according to data released by the Virginia Lottery.

The surge in wagering activity helped push adjusted gross revenue for the month to $45.1 million, representing a 6.4% year-on-year increase. However, the figure was still 27.1% lower than February’s total. Of the March revenue, mobile betting contributed $44.4 million, while retail sportsbooks accounted for $692,282.

Online and mobile platforms continued to dominate, with $683.1 million of the total handle placed through digital channels. Retail outlets generated the remaining $6.6 million in wagers. Across all formats, the statewide hold for March stood at 6.58%, meaning Virginia bettors received approximately $639 million in winnings.

The monthly report also showed $5.6 million in "other deductions," though specific details were not disclosed. As for taxation, $6.8 million was collected from sports betting activity. Of this, $6.6 million was directed to the state’s General Fund Allocation, while $168,873 went to the Problem Gambling Treatment and Support Fund Allocation.

A total of 14 licensed mobile operators and three physical casino sportsbooks were authorized to operate in Virginia during the month.