Despite Yearly Growth Virginia Sees Summer Revenue Dips

Virginia’s sports betting market recorded an adjusted gross revenue of $45.6 million in July 2025, according to data released by the Virginia Lottery. While this represents a 12.9% increase compared with July 2024, the figure is down 20.1% from June and marks the lowest monthly revenue since August 2024. Analysts point to seasonal fluctuations, including fewer major sports events in the summer, as key factors contributing to the month-to-month decline.

 

Metric	July 2025	June 2025	July 2024
Adjusted Gross Revenue	$45.6M	$57.1M	$40.4M
Online Revenue	$45.1M	$56.5M	$39.8M
Retail Revenue	$0.52M	$0.55M	$0.6M
Handle	$429.3M	$478.0M	$377.4M
Online Handle	$427.2M	$475.5M	$375.6M
Retail Handle	$2.1M	$2.5M	$1.8M
Tax Revenue	$6.8M	—	—

 

Online Betting Dominates Revenue

Online sportsbooks continued to drive the majority of Virginia’s sports betting revenue. Of the $45.6 million reported, $45.1 million came from online wagering, leaving retail locations inside casinos responsible for just $522,452. This dominance of online operators reflects a broader trend across U.S. markets, where digital betting channels increasingly capture the bulk of wagering activity.

Total betting handle—the amount of money wagered by customers—reached $429.3 million in July. While this was 10.2% lower than June, it still represented a 13.7% increase from the same month last year. Online wagering accounted for $427.2 million, with retail sportsbooks generating $2.1 million in customer bets. The monthly hold rate, or the percentage of total wagers retained by sportsbooks, stood at 10.62%, consistent with industry norms for Virginia. Virginia bettors received $379.8 million in winnings during July, according to the lottery, with an additional $3.9 million reported as other deductions, the specifics of which were not disclosed. Sports betting generated $6.8 million in tax revenue for the state, underscoring the sector’s growing contribution to public finances.

 

While July’s sports betting revenue in Virginia dipped to an 11-month low, the year-on-year growth demonstrates that the market remains on a steady upward trajectory, driven primarily by online wagering.

Market Structure and Operator Activity

As of July, 14 licensed online sportsbooks were active in Virginia, complemented by three retail betting locations. The market’s structure highlights a strong preference among bettors for digital platforms, though retail sites continue to play a smaller, yet stable, role in overall revenue generation.

The July slowdown aligns with broader seasonal trends observed in U.S. sports betting markets. Summer months typically see reduced betting activity due to fewer marquee sports events, particularly in professional football and basketball. Despite this temporary dip, Virginia’s year-on-year growth indicates a resilient market that continues to expand, fueled by online adoption and the gradual maturation of retail betting operations.