Virginia Sportsbooks Rebound To Over $500 Million In March Bets

Written By Cole Rush on May 10, 2023 - Last Updated on July 10, 2023
Virginia Sports Betting

Virginia exceeded $500,000,000 in March sports betting handle, a significant jump from both February and last March’s figures.

According to the Virginia Lottery, the state took a whopping $511,614,541 in bets in March. Of that number, $507,025,619 came from Virginia’s mobile sports betting operators while $4,588,922 came from retail casino activity.

Total Virginia sports betting revenue for March 2023 was $47,651,362.

Virginia sports betting handle increases

March handle for Virginia sports betting was up 9% compared to March 2022. It’s a 17.7% jump from February 2023, which saw $433.8 million in handle.

Virginia bettors won a total of $456.4 million; operator win percentage was 10.8%.

Retail betting saw a boost as well. Bristol Casino and Rivers in Portsmouth took $4.6 million, a $1 million jump up from February.

March’s $47.7 million in revenue is a large bump up from February’s $39.8 million.

These across-the-board increases make sense when you consider the sports betting landscape in March compared to February. Aside from the Super Bowl, February remains a relatively barren month for major sports. In March, the NCAA Tournament draws bettors of all sorts — seasoned gamblers and new bettors alike.

Virginia sports betting handle, revenue March 2023

March 2023 HandleFebruary 2023 HandleMarch 2023 RevenueFebruary 2023 Revenue
Online sportsbooks$507,025,619$430,252,600$47,106,308$28,345,175
Casino retail$4,588,922$3,554,508$545,054$40,074

$7.4 million in taxes paid by Virginia operators

Virginia sports betting law requires operators to fork up 15% of adjusted gross revenue (AGR) in tax contributions. AGR means total bets minus winnings. On AGR of $47.7 million, Virginia operators paid $7.4 million (7.5% of that payment goes to the General Fund. The remainder — about $185,000 — goes to the Problem Gambling Treatment and Support Fund.

Ten Virginia operators reported positive AGR for March, which means six operators did not make a profit and thus did not contribute to the state’s taxes during March.

Recent gambling developments in Virginia

Virginia’s gambling industry is on the rise. Betr Sportsbook is the state’s most recent sportsbook to earn a license and launch.

Meanwhile, on the land-based side, Danville’s Caesars Casino received its license on April 26 and could open this month.

Photo by AP / Wayne Parry
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Cole Rush

Cole Rush writes words. A lot of them. Most of those words can be found at gambling publications such as iGaming Business, Gaming Today,,, ICE 365, and IGB North America. Cole also covers pop culture and books for and Cole has more than 9 years of experience writing about gambling and entertainment.

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