Virginia Sports Betting Revenue Hits Record $95.3M in Q4

Virginia’s sports betting market reached a new milestone in November, posting its highest monthly revenue on record as operator winnings surged despite a slight pullback in overall betting activity from the prior month.

Adjusted gross sports betting revenue from both online and retail wagering totaled $95.3 million in November, according to data released by the Virginia Lottery. That figure exceeded the previous monthly record of $86.4 million, set in November 2024, by 10.3% and marked a 26.6% increase from October 2025.

 

Metric	November 2025
Gross Sports Betting Revenue	$95.3M
Online Revenue	$95.1M
Retail Revenue	$193,052
Gross Handle	$798.9M
Taxes Paid	$14.3M

 

The revenue growth was driven almost entirely by online wagering. Of the total, $95.1 million came from mobile sportsbooks, while just $193,052 was generated from in-person betting at Virginia’s three authorized casinos. The figures underscore the continued dominance of online betting in the state’s market nearly four years after legalization.

While revenue hit a new peak, betting volume showed more modest movement. Gross sports betting handle for the month reached $798.9 million, up 5% year over year but down 3.9% from October’s record $831.6 million. Players wagered $793.6 million online and $5.3 million at retail locations.

The divergence between handle and revenue suggests stronger operator hold rates in November, a trend commonly influenced by sportsbook-friendly results during the height of the football season. The Virginia Lottery reported that bettors received $699.7 million back in winnings during the month. The regulator did not release operator-specific results, though it confirmed that 14 licensed mobile sportsbooks were active during November, alongside the state’s three retail casino sportsbooks. No allowable bonuses or promotional deductions were reported for the month, although $3.9 million in other undisclosed deductions were applied.

 

November’s record revenue highlights the growing dominance of online sports betting in Virginia and its significant contribution to state tax collections.

 

The Future and Taxes

The record-setting revenue translated into a significant tax contribution for the state. Sports betting operators paid $14.3 million in taxes for November, with $13.9 million allocated to Virginia’s General Fund. An additional $356,865 was directed to the Problem Gambling Treatment and Support Fund.

Virginia joins a growing list of U.S. jurisdictions that have posted record sports betting revenues during the 2025 football season, reflecting both the maturation of regulated markets and the continued popularity of online wagering. The November results highlight how operator profitability can reach new highs even when betting volume does not, particularly during peak periods on the sports calendar.