Virginia sports betting activity grows 17.7% in May while tax revenue tops $10M

Virginia sportsbooks reported $595 million in wagers for May 2025, up 17.7% year-over-year, according to data released by the Virginia Lottery.

The combined adjusted gross revenue (AGR) reached $67.91 million, following a 12.17% hold, the highest recorded since September 2022.

The gross revenue for the month totaled $72.4 million, reflecting a 20.7% increase compared to May 2024. The report includes figures from 14 licensed mobile operators and three retail casinos authorized to accept wagers.

Operator performance and State revenue

Thirteen licensed sportsbooks posted net positive AGR for the month. The state's 15% tax on AGR generated $10.16 million in May, bringing Virginia’s total tax collection for the first five months of 2025 to more than $46 million.

Of the May total, $9.91 million went to the state’s General Fund, and $254,000 was allocated to the Problem Gambling Treatment and Support Fund.

Virginia’s three land-based casinos also reported positive results in May, recovering from nearly $500,000 in losses in April. The retail sportsbooks posted $467,259 in AGR from a $5.16 million handle.

In addition to sports betting, the trio of casinos—Caesars Virginia, Rivers Casino Portsmouth, and Hard Rock Bristol—reported $85.4 million in adjusted revenue from table and slot games. That figure is up from $78.7 million in April, resulting in $15.4 million in state tax contributions. Caesars led the group with $34 million in AGR, followed by Rivers with $28.3 million and Hard Rock with $23 million.

Basketball drives betting trends

The NBA Playoffs contributed significantly to operator revenue. Industry trends suggest Virginia sportsbooks followed a national pattern of strong postseason results for operators, continuing a three-month stretch where gross profit reached $185.9 million. That represents a 10.5% increase over the same period in 2024, despite lower figures in March during the NCAA tournament.