Virginia Sets New Sports Betting Handle Record in October

Virginia sports bettors set a new monthly wagering record in October, generating $831.6 million in total handle across mobile and retail sportsbooks, according to data released by the Virginia Lottery. The new high-water mark surpassed the previous record of $761 million, set in November 2024, by 9.3%. The jump reflects both seasonal momentum in the fall sports calendar and a broader expansion of the market’s user base. Year over year, the state’s handle increased 19.5%, while month-over-month activity grew 12.8%, illustrating sustained demand across both established operators and newer entrants. Most wagers—$824 million—came from online platforms, reinforcing the dominance of mobile betting, while retail sportsbooks inside the state’s casinos contributed $7.6 million.

 

Metric	October Value
Total handle	$831.6M
Online handle	$824.0M
Retail handle	$7.6M
Adjusted gross revenue	$75.3M
Statewide hold	9.05%
Monthly tax collected	$11.3M

 

Revenue figures also strengthened. Adjusted gross revenue rose to $75.3 million, the highest monthly total since January. The result was 53.7% above the level recorded in October 2024 and 16.7% higher than September’s $64.5 million. Even with this growth, the state did not break its all-time revenue record of $86.4 million, set in November 2024. The statewide hold rate ended at 9.05%, aligning with typical industry performance during active sports months. Online operators generated $74.6 million of October’s revenue, while land-based facilities posted $739,551. Operators returned $751 million to bettors for winning wagers, and the lottery listed $5.3 million in other deductions. No promotional credits or bonuses were claimed during the month, a factor that may have contributed to the stronger revenue performance.

The Virginia market remained competitive in October, with 14 mobile operators and three casinos authorized to accept wagers. Major national brands—including FanDuel, DraftKings, BetMGM, Bet365 and ESPN Bet, which recently rebranded as theScore Bet—were active throughout the month. However, the Virginia Lottery does not release operator-specific performance data, making it impossible to determine which sportsbook led the market in October or how market share may have shifted following recent rebranding or promotional strategies.

 

October’s results reflect sustained growth in both online and retail wagering, with the state setting a new benchmark for monthly betting activity.

 

Conclusions

Sports betting generated $11.3 million in state taxes for the month. Of that total, $11 million was directed to the state’s General Fund Allocation, while $282,793 went to the Problem Gambling Treatment and Support Fund Allocation. These allocations reflect the state’s established revenue distribution framework, which channels the bulk of tax receipts into core public services while reserving a portion for responsible gambling initiatives. With both handle and revenue rising sharply, Virginia heads into the final months of the year with strong momentum and the prospect of further records if seasonal sports activity continues to fuel betting demand.