Virginia sports betting action increased 8.5% year-over-year in March.
Key takeaways
- Virginia sports betting operators hauled in $50.7 million in gross revenue.
- 11 sportsbooks reported a positive adjusted revenue.
- Betting through the first three months of 2025 was up 8.2% from last year.
The Virginia Lottery reported online and retail sportsbooks generated $689.7 million in wagers during the month of college basketball’s postseason events. Despite commonwealth residents not able to bet on in-state college teams, operators still produced their best March handle since online wagering began in 2021.
Virginia online sports betting accounted for $683.1 million of the total handle while retail sportsbooks generated $6.5 million in March bets.
The combined $50.7 million revenue was up 6.3%. Favorites had a good run during the NCAA tournaments, which worked out well for bettors. The 7.3% hold was the lowest Virginia operators produced in 2025 and the third under 8% in the last six months.
Virginia Lottery reported 11 sports betting operators produced positive adjusted gross profit in March. Old Dominion hauled in $6.7 million in tax revenue for the month. Virginia’s year-to-date sports betting tax income total surpassed $28 million after March.
| March | Online | Retail |
|---|---|---|
| Sports betting handle | $683,133,146 | $6,531,898 |
| Adjusted gross revenue | $44,392,910 | $692,282 |
Big three months
Virginia’s year-to-date $1.8 billion handle is 8.2% ahead of 2024’s first three months, while a $204.9 million revenue jumped 19%.
March’s handle increased nearly 24% month-over-month, but an operator-friendly Super Bowl February produced $15 million more in gross revenue. Old Dominion operators only saw one month since Sept. 2024 generate under $50 million in profits.
Casino revenue increases
March also produced a significant increase in casino gaming. Virginia’s three land-based operators produced $85.2 million in revenue, a nearly $10 million increase from the previous month. The state collected $15.3 million in tax income from casinos, up from February’s $13.5 million haul.
Caesars Virginia had $36 million of the commonwealth’s total adjusted gaming revenue. River Casino finished with $27.9 million, while Hard Rock Bristol generated $21.3 million in adjusted income.
