The Booming Tendencies in Virginia's Sports Betting Revenues
Mobile Betting's Golden Rule
Record-breaking Virginia Sports Betting Income Surpasses 556 Million Dollars in February
Virginia's mobile sports wagering scene reigns supreme, accounting for an impressive 99.3% of all bets placed via online platforms during February 2025. This undeniably highlights the sheer convenience and apparent preference of Virginians towards mobile betting [1][4].
Ebb and Flow of Revenues
Handle Growth: The total handle for February 2025 hit $556.8 million, marking a 2.2% increase compared to the previous year. Although February 2025's handle was significantly lower than January's impressive $735.9 million, it showcases a steady upward trend in mobile betting activity [1][4].
Revenue & Hold Rate: The hold rate in February 2025 reached an impressive 11.12%, a figure not seen since September 2022. This boosted the adjusted gross revenue to a substantial $61.9 million, reflecting a 39.3% increase from February 2024 [1][4]. Keep in mind that revenue figures may fluctuate due to major sporting events.
Year-Over-Year Growth: Despite having one less day in February 2025 due to leap year effects, Virginia still managed to record significant year-over-year revenue growth [1].
Taxes: The Financiers
Although tax revenue specifics for Virginia are somewhat elusive, sports betting revenues undeniably contribute substantially to state funds. Most states apply taxes to both online and retail betting, with online taxation usually at a higher rate. However, the exact tax rates for Virginia remain undisclosed in the search results [1].
General Fund: A significant portion of the collected tax money flows directly into Virginia's General Fund, which supports various public services across the state.
Problem Gambling Support: A smaller portion, approximately $232,599, go into the Problem Gambling Treatment and Support Fund, administered by the Virginia Department of Behavioral Health and Developmental Services. This fund helps supply treatment and resources for those experiencing issues related to gambling [1][3].
In summary, Virginia's sports betting market persists in its growth trajectory, fueled by the allure of mobile wagering and the excitement of major events. However, the intricate details of tax revenue remain somewhat shrouded in mystery within the recent reports.
[1]: Source A[2]: Source B[3]: Source C[4]: Source D
- In 2025, over 99% of Virginia's sports betting via online platforms was conducted on mobile devices, highlighting the popularity of mobile wagering amongst Virginians.
- While tax specifics for Virginia's sports betting are yet to be clearly stated, it's clear that the revenues from sports betting significantly contribute to the state's General Fund, which supports various public services, and a smaller portion is allocated to the Problem Gambling Treatment and Support Fund.
- As a result of the booming sports-betting scene in Virginia, tax payouts in 2025 are expected to be substantial, with a substantial boost in adjusted gross revenue (reaching $61.9 million in February alone) due to the high hold rate and increased betting activity.
