Virginia Handle Falls in February, Still Above $500M

Virginia sportsbooks saw a combined $545 million in wagers in February, more than $100 million less than in January.

Apr 2, 2024 • 13:20 ET • 4 min read
Virginia
Photo By - USA TODAY Sports

Virginia, like the other betting states, reported that bettors pulled back on their action in February, not surprisingly since there was less football, even if it was the Super Bowl. Quantity is great for sports bettors and March’s jam packed month should look better. 

The Virginia Lottery announced that sportsbooks in February saw a combined $545 million in wagers, more than $100 million less than January’s record-high $652.8 million. 

While Virginia sports betting monthly action is down, compared to last year it was 25.6% higher. Revenue came in lower versus the previous month as operators held 9.1% of their bets. Sportsbooks made $44.4 million in gross dollars, a 34% decline. 

After $9.9 million in taxes from January, February brought in just $6.3 million to the commonwealth’s General Fund. 

Online Retail
Gross sports gaming revenues $540,138,289 $4,930,140
Adjusted gross revenue $44,164,970 $289,548

Casino action reported 

Virginia’s casinos contributed less than 1% to the commonwealth's handle. The three physical locations together saw a total of $4.9 million in bets, making $289,000 in gross revenue. 

But these casinos saw success elsewhere, mainly in slots.  

Revenue-wise slot machines brought in more money as their table game counterparts. Rivers Casino Portsmouth saw more than twice as much money from slots. Caesars casino in Danville, enjoyed more than three-times as much money while HR Bristol reported nearly 10-times as much money made. 

Rivers Casino was the biggest earner of Virginia’s three casinos, ending February with $25.2 million in adjusted gross revenue.  

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