August 2022 Virginia Sports Bets Bring in $284.7 Million

Written By Russ Mitchell on September 30, 2022 - Last Updated on July 27, 2023
August 2022 Virginia sports bets

After four consecutive months of lower numbers, August 2022 Virginia sports bets reflect the seasonal increase that comes with football season.

The state collected $284.7 million in sports bets in August, according to numbers released Friday by the Virginia Lottery. The total is a 7% increase from July.

Comparing August 2021 to August 2022, sports betting is 56% higher. Virginia sportsbooks took in $182.4 million a year ago.

State crosses $1 million mark for responsible gaming fund

Virginia sports betting operators cleared $31.4 million in adjusted gross revenue in August. That allowed the state to collect $4.5 million in taxes.

From there, the state taxes sports betting profits at a 15% rate. In August:

  • $4.4 million went into the general fund.
  • $111,853 went toward problem gambling.

The Virginia Department of Behavioral Health gets 2.5% of gaming profits. It’s used specifically for the Problem Gambling Treatment and Support Fund.

Virginia taxed sports bets beginning in January 2021, when customers placed the first game bets. Since its start, the state has collected $1.1 million for problem gambling treatment.

By the numbers: August 2022 Virginia sports bets

  • Customers at Virginia sports betting apps won about $248 million from the $284.7 million in sports bets. That’s a 13% hold for the companies that take in sports wagers.
  • Nine of the state’s 13 casinos finished the month with taxable profits.
  • Since sports betting debuted in Virginia, customers have placed about $6.2 million in wagers.
  • Virginia’s lifetime sports betting revenue comes in at $554 million.
  • The state has collected $43 million in taxes since sports betting began.

Bristol Casino – Future Home of Hard Rock is the only land-based sportsbook in Virginia. Customers placed almost all of the Virginia sportsbook bets online.

Which companies take Virginia sports bets?

Virginia has a sportsbook limit of “no more than 12 permits,” according to state code. But, the law includes some exceptions. Operators who partner with Virginia casinos or sports venues in the Washington D.C. area can add to the count.

SportsbookDate of First Bet
1.FanDuelJan. 20, 2021
2. DraftKingsJan. 24, 2021
3.BetMGMJan. 27, 2021
4. BetRiversJan. 27, 2021
5.CaesarsFeb. 3, 2021
6.WynnBetMarch 9, 2021
7.UnibetApril 28, 2021
8.BarstoolAug. 10, 2021
9.Golden Nugget
(no longer available)
Sept. 29, 2021
10.Bally BetNov. 24, 2021
11.PointsBetDec. 12, 2021
12.Hard RockMarch 31, 2022
13. SI SportsbookMay 9, 2022
14.BetwayMay 17, 2022
15. bet365TBD

The Virginia Lottery regulates sport betting and casino bets. They issue monthly reports for both industries.

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Russ Mitchell

Russ Mitchell covered news and sports in Iowa since 1997, including 11 years as managing editor for one of the most decorated community newspapers in the state. He joined PlayIA as a lead writer and managing editor in 2021. He anxious to explore the growing Virginia gaming industry.

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