Virginians wager $433M on sports in February
Sports betting revenues up 7.9% from last year
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.