Virginia Sports Betting Revenue Reaches Four-Month High

Virginia’s legal sports betting market saw strong performance in May 2025, with adjusted gross revenue (AGR) reaching $67.9 million—the highest monthly total since January. According to data released by the Virginia Lottery, this marks a 26% increase compared to May 2024 and a 21% rise from April 2025, signaling continued momentum in the state’s maturing sports wagering industry.

Online betting remained the dominant force, contributing $67.4 million of the total AGR. Retail sportsbooks added $467,259, underscoring the overwhelming consumer preference for mobile and digital platforms. In total, 14 licensed mobile operators and three retail locations accepted wagers during the month.

The total amount wagered—or handle—reached $595.0 million in May. This represents a 17.7% increase from the same month last year, though it dipped 2.4% from April’s $609.7 million. Online platforms accounted for $589.9 million in bets, while retail sportsbooks brought in $5.2 million.

The hold rate, or the share of wagers that operators retained as revenue, was 11.41%. This metric can vary month to month depending on betting outcomes, operator promotions, and bettor behavior. While handle fell slightly from the prior month, the increase in revenue suggests operators benefitted from more favorable margins or fewer promotional deductions.

 

Player Winnings and Payouts

According to the report, Virginia players won $522.6 million in May. The Virginia Lottery does not break down revenue by individual operators, but the aggregated data points to sustained consumer engagement and a high volume of betting activity. The distribution of winnings, combined with the hold rate, reflects a relatively stable market environment.

The state collected $10.2 million in taxes from sports betting revenue in May. Of this, $9.9 million was directed to Virginia’s General Fund, supporting a wide range of public services. An additional $253,998 was allocated to the Problem Gambling Treatment and Support Fund, which finances resources for individuals experiencing gambling-related harm.

Since legalizing sports betting in January 2021, Virginia has steadily grown its market. The majority of revenue now consistently comes from mobile operators, mirroring a national trend where convenience and access drive consumer preferences.

 

May's figures reflect a maturing and resilient sports betting market in Virginia, with online platforms continuing to drive growth,” said a Virginia Lottery spokesperson. “As mobile wagering becomes more entrenched, we expect consistent contributions to state revenue and support for responsible gambling initiatives.

Market Outlook

While seasonal betting patterns—such as the NBA and NHL playoffs—may have contributed to the strong May performance, the broader trend points to a stable and growing market. The continued year-on-year growth in both handle and revenue, combined with a healthy tax contribution, positions Virginia among the more robust sports betting markets in the U.S.

As competition among operators remains strong and the regulatory framework matures, future performance will likely hinge on the balance between aggressive promotions, bettor retention, and evolving consumer habits.