Virginians wager $433M on sports in February

Sports betting revenues up 7.9% from last year

Published April 3, 2023 by Katherine Schulte

Virginians bet more than $433.8 million on sports in February, according to data released Friday by the Virginia Lottery.

Virginia sports bettors won more than $394 million in February.

More than $430 million of sports betting revenue came from mobile operators, with the remaining roughly $3.55 million coming from casino retail activity out of the temporary Bristol casino and the state’s first permanent casino, Rivers Casino Portsmouth. February gaming revenues from Virginia casinos totaled $38.39 million, with about $24.66 million of that coming from the Portsmouth casino, according to Virginia Lottery data released in mid-March.

February’s sports betting gross revenues were a 7.9% increase from those reported in February 2022 but a 15% decrease from January’s $513 million handle. Bets on the Super Bowl comprised $32.3 million of Virginia wagers in February.

The 16 licensed operators included in February’s reporting were:

• Betfair Interactive US LLC (FanDuel) in partnership with the Washington Commanders,
• Crown Virginia Gaming LLC (Draft Kings),
• BetMGM LLC,
• Rivers Portsmouth Gaming LLC (Rivers Casino Portsmouth),
• Caesars Virginia LLC,
• WSI US LLC,
• Twin River Management Group LLC,
• Penn Sports Interactive LLC,
• Unibet Interactive Inc.,
• Colonial Downs Group LLC,
• Digital Gaming Corporation VA LLC,
• VHL VA LLC,
• HR Bristol LLC,
• Hillside (Virginia) LLC,
• DC Sports Facilities Entertainment LLC,
• and Betr VA LLC.

Virginia places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue. With nine operators reporting net positive adjusted gross revenue for February, the monthly taxes totaled $4.68 million, 97.5% of which will be deposited in the state’s general fund. The remaining 2.5% — about $117,000 — will go to the Problem Gambling Treatment and Support Fund, which the Virginia Department of Behavioral Health and Developmental Services administers.

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