April's sports betting revenue in Virginia barely fell short of a $400 million mark.
Virginia's Sports Betting Industry Shows Strong Growth
In the post-PASPA era, Virginia has established itself as a significant player in the US sports betting market. As of 2025, the state ranks 9th among US states in sports wagering handle, with a total handle of approximately $6.93 billion in 2024, marking a 23.9% increase from the previous year [1][4].
Since launching mobile sports betting in 2021, Virginia's total handle has grown to over $20 billion cumulatively [1]. The industry has been notably strong, with an average win rate (hold percentage) of around 10-12%, which is above the national average of about 8% [2][3].
In June 2025, Virginia sportsbooks reported a 12.7% hold and gross revenues soared 33% year-over-year, demonstrating the market's robustness and mobile betting's dominance [3]. While larger states like New Jersey generate higher total revenue and handle—New Jersey sportsbooks earned over $114 million in revenue recently—Virginia's current position at 9th place nationally by handle indicates it is a competitive market, albeit behind the top-tier states [5].
Promotional credit distribution in April was more than $11.2 million, a 20.2% decrease from March, but a significant increase from the $5.5 million provided in April 2021 [6]. Total deductions outside of promotional credits in April were slightly less than $4.3 million, a 19.2% decrease from March and a 68.2% increase from April of last year [6]. Operators have reported $58 million in promotional credits in 2022 [6].
The state has levied its 15% tax on $61.2 million in adjusted revenue this year, accounting for 57.2% of gross revenue, the first time since November that the figure was higher than 50% [6]. Combined claims among operators have topped $2 million in each of the 15 full months of wagering [6]. April marked the eighth consecutive month promotional credits surpassed $10 million and the tenth time overall since launch [6].
Since launch, deductions allowed have surpassed $50 million [6]. The strong growth and favourable hold rates have characterised Virginia’s market since legalization in 2021, positioning it as a promising market for continued growth and competition in the sports betting industry.
[1] Source: American Gaming Association [2] Source: Virginia Lottery [3] Source: Sports Handle [4] Source: Legal Sports Report [5] Source: Play USA [6] Calculated from provided data
In the thriving sports betting market of Virginia, the cumulative total handle surpassed $20 billion after the introduction of mobile sports betting in 2021 [1]. Over the years, the state has demonstrated a stronghold in the industry, with an average win rate of 10-12%, exceeding the national average of about 8% [2][3]. This exceptional performance in sports wagering has solidified Virginia's position as a significant competitor in the sports-betting realm, drawing lines with other prominent markets across the United States [1][5].
