Virginia gamblers spent $622.1 million (£481.5 million/€574.2 million) in September, the third biggest sum this year, while operators had double-digit hold for the sixth time in the first nine months of 2024.
According to a Virginia Lottery report issued on Friday (1 November), operators paid out $550.2 million in prizes, with a total hold of 11.5%. This was the third-highest hold of the year. Betting operators generated $65.9 million in adjusted gross revenue, the second most in 2024.
Operators paid the state a total of $9.9 million in tax income. Virginia taxes sports betting companies at a 15% rate.
Handle was up 19.6% from September 2023, when gamblers wagered $520.3 million. The handle increased by $206 million over August. Virginia does not provide individual operator information or a sport-by-sport breakdown. However, the start of the NFL season in September marks the beginning of the year’s busiest betting season.
See also:
- VBET collaborates with Mindway AI to improve responsible gambling and player safety.
- Betby offers betting markets for the US presidential election.
- Keith McDonnell of KMI Group: Approaching a ‘critical era’ for gaming in the Philippines
In September, Virginia operators wrote down a total of $5.7 million for promotional play.
Petersburg casino vote on Tuesday
Virginia now has 13 digital gambling platforms, down from a peak of 15 when SI Sportsbook and Betfred left the state earlier this year. Sporttrade launched in Virginia on October 24, providing gamblers a 14th digital alternative. The platform will provide its initial figures, covering eight live days in October, at the beginning of November.
Three casino sportsbooks are now accepting bets. In 2020, voters authorized five land-based casinos in the state. To date, casinos in Bristol (Hard Rock), Danville (Caesars), and Portsmouth (Rivers) have opened. Boyd Gaming and the Pamunkey tribe began ground late last week on a $750 million casino near Norfolk, set to open in late 2027.
After Richmond voters repeatedly rejected to authorize a casino in their city, Petersburg voters will decide whether or not to grant The Cordish Companies’ Live! Casino a license on Tuesday (5 November). State lawmakers decided in February to remove the proposed Richmond casino off the list of qualifying communities.
Join us on all our social channels and groups
Gameongazette is present on:
