Sports betting ventures in Virginia boast their highest win rate since 2022
Virginia's Sports Betting Market Shows Strong Growth in 2025
Virginia's brick-and-mortar casinos have posted mixed results in their sports betting operations, with a loss of $327,616 on $5.07 million in bets in June, marking their second losing month in the last three [1]. Despite this, the state's sports betting market has shown significant growth in 2025, with a total handle of $6.92 billion as of July [1].
While exact quarterly revenue growth rates for Virginia are not detailed, the overall U.S. commercial sports betting market shows a strong growth of 13.1% in year-to-date sports betting revenue through May 2025 compared to the same period in 2024 [2]. Given Virginia's growing handle, it is likely that the state also experienced an increase in sports betting revenue in Q2 2025 over Q2 2024, consistent with national trends.
The key contributors to Virginia's sports betting revenue primarily come from online sportsbooks, which dominate the state's market. Virginia launched with online betting only and does not have retail sportsbooks as of the latest data. This online-only model has driven rapid growth in handle and revenue in recent years [1].
In June, Rivers Casino Portsmouth reported $26.5 million in adjusted profits, Caesars Virginia brought in $30.56 million, and Hard Rock Bristol reported $21.4 million [1]. Overall Adjusted Gross Revenue (AGR) from casino gaming in June was $78.5 million, a decrease of 8% from May [1].
Combined, those casinos paid $14.1 million in taxes for the month [1]. Retail casino revenue from slots and table games helped keep things in balance for the casinos, but the sports betting losses were a notable setback.
As more precise Q2 2025 Virginia data becomes available, it will permit exact comparisons and identification of top-performing sportsbooks. The online-dominated sports betting market in Virginia continues to grow, reflecting a national trend of increasing interest and revenue in the industry.
[1] Source: Virginia Lottery [2] Source: American Gaming Association
Sports betting in Virginia has experienced a significant growth in 2025, with a total handle of $6.92 billion as of July, despite some losses recorded in brick-and-mortar casinos. Given the dominance of online sportsbooks in Virginia's sports betting market, it's expected that the growth in handle may lead to an increase in sports betting revenue, mirroring national trends.
