April's Sports Wagering Handle in Virginia Narrowly Fails to Reach $400 Million Mark
In the world of sports betting, Virginia has emerged as one of the fastest-growing and highest-volume markets in the United States. Since its launch, the state has surpassed $50 million in deductions, a testament to its growing popularity [1].
Compared to March, the deductions for April decreased by 19.2%, but they still represent a 68.2% increase over the same month last year. Interestingly, the total deductions outside of promotional credits amounted to slightly less than $4.3 million for April, marking a significant contribution to the state's revenue [1].
The state has also been levying its 15% tax on $61.2 million in adjusted revenue this year, generating a substantial amount of tax revenue [1]. It's worth noting that the adjusted revenue eligible for taxation in April accounted for 57.2% of the gross revenue, the first time since November that this figure was higher than 50% [1].
As of mid-2025, Virginia ranks among the leading U.S. states in sports betting handle, with a total annual handle of approximately $6.93 billion in 2024 and an expected continuation of strong performance in 2025 [1]. This robust growth is particularly impressive when compared to other states, such as Tennessee, which reported monthly handles ranging from approximately $400 million to over $590 million in late 2024 and early 2025 [2].
In terms of revenue, Virginia generated about $684.9 million in sports betting revenue in 2024, with a hold percentage close to 9.9% and tax revenue of approximately $92.3 million [1]. This steady growth is reflected in the national context, with the overall U.S. sports betting market seeing Americans wager $12.10 billion in May 2025 alone, and year-to-date commercial sports betting revenue through May 2025 at $6.50 billion nationwide [5].
Despite Virginia's impressive figures, it is not the largest market. Markets like New Jersey and Nevada, historically the largest, continue to lead the way. However, Virginia's rapid growth and high total handle (nearly $7 billion in 2024) show its rising prominence and strong revenue generation [1][5].
Combined claims among operators have topped $2 million in each of the 15 full months of wagering. Additionally, operators have reported $58 million in promotional credits in 2022. This is significant, as it marks the eighth consecutive month promotional credits surpassed $10 million and the 10th time overall since launch [1]. The distribution of promotional credits in April dipped 20.2% from March to more than $11.2 million [1].
In summary, Virginia's sports betting market has shown remarkable growth since its launch, placing it among the top-tier states in terms of handle and revenue. Its continued strong performance in 2025 further cements its position as a significant player in the U.S. sports betting landscape [1][5].
References: 1. Source 1 2. Source 2 3. Source 3 4. Source 4 5. Source 5
In the April comparison, the sports-betting deductions declined by 19.2% compared to March but still revealed a 68.2% increase over the same month last year. The line taxed in April accounted for 57.2% of the gross revenue, a first since November that this figure surpassed 50%.
