Virginia sports betting handle reaches $609.7 million in April despite retail losses

Virginia bettors placed a total of $609.7 million in sports wagers this April, an 8.2% increase over the same month last year, according to data released by the Virginia Lottery. Online sportsbooks were responsible for the vast majority of the action, accounting for $603.7 million of the handle, while retail sportsbooks contributed $6 million.

Despite a month-over-month decline from March’s $689.7 million in bets, adjusted gross revenue (AGR) for April rose to $56.1 million. This marked a 2.8% increase over April 2024 and a 24.4% jump from the previous month.

The revenue gain was attributed largely to strong online performance, with Virginia’s 14 online sportsbooks collectively generating $56.6 million in AGR. However, the retail segment posted a loss of $473,390, pulling down the overall figure.

Hold percentage across all operators stood at 9.2%, with consumers winning back $546.9 million in total. Of that, $6.4 million came from retail sportsbooks, resulting in a net loss due to the payout exceeding the handle. The Virginia Lottery noted $6.6 million in unspecified deductions but did not disclose figures by operator.

The state collected $8.5 million in taxes from sports betting activity in April. Most of the revenue, $8.3 million, was allocated to the General Fund, while $212,945 was directed to the Problem Gambling Treatment and Support Fund.

Over the last seven months, Virginia’s sports betting market has seen fluctuating win rates. March's 7.3% hold, one of the lowest in over a year, reflected the impact of a predictable NCAA basketball postseason.

In contrast, four of the past seven months saw win rates in double digits, including three months that surpassed 11%. As the state heads into the typically slower summer period, historical data suggests double-digit holds may continue even with reduced betting activity.

In-person casino revenue in Virginia also declined during April. The state’s three brick-and-mortar casinos reported $78.7 million in adjusted gaming revenue, down from $85.2 million in March. Caesars Virginia led with $32.4 million, followed by Rivers Casino Portsmouth at $25.3 million, and Hard Rock Bristol at $21 million. Altogether, the casinos contributed $14.2 million in taxes to the state.