Virginia's Sports Betting Exceeds May 2024 Totals by $89 Million
**Virginia's Sports Betting and Casino Revenue Soar in May 2025**
In a notable development, Virginia's sports betting and casino revenue have experienced a significant surge in May 2025.
### Sports Betting Trends
The sports betting market in Virginia has shown a robust growth, with the handle increasing by 17.7% compared to the same month last year, reaching a total of $595 million. The high-performing sportsbooks managed a hold rate of 12.17%, marking the highest rate in nearly three years [1]. Gross revenue from sports betting also saw a 20.7% year-over-year increase, benefiting from strong basketball events like the NBA playoffs [1].
Basketball bets played a significant role in May 2025, with the NBA Playoffs generating a lot of action. As a result, the three months of April, May, and May 2025 saw a combined gross revenue of $185.9 million, representing a 10.5% increase from the same stretch in 2024 [1]. Online sports betting in Virginia for May 2025 generated $589.8 million.
### Tax Revenue
The growth in sports betting revenue has positively impacted Virginia's state tax coffers. Since January 2025, Virginia has collected more than $46 million in taxes from sports betting alone, with $10.16 million collected in May 2025 [1].
### Casino Revenue
While the current trend focuses heavily on sports betting, the success of this sector suggests a vibrant gaming environment that could potentially influence or complement casino operations. In May 2025, the three casinos in Virginia - Rivers Casino Portsmouth, Caesars Virginia, and Hard Rock Bristol - reported combined adjusted revenue of $85.4 million, up from $78.7 million in April 2025 [1].
Rivers Casino Portsmouth had the second-highest adjusted revenue among the three casinos with $28.3 million in May 2025. Caesars Virginia took the lead with the highest adjusted revenue of $34 million, while Hard Rock Bristol had the third-highest adjusted revenue of $23 million [1].
### Conclusion
The sports betting market in Virginia has seen significant growth in revenue and handle, with basketball betting playing a significant role. The state's tax revenue has also benefited from this surge, reflecting a positive trend in the sports betting sector. The casino industry in Virginia has also shown promising signs of growth, with the three casinos reporting increased adjusted revenue compared to the previous month. This surge in both sports betting and casino revenue indicates a thriving gaming environment in Virginia.
[1] Source: Virginia Lottery Data Dashboard, accessed on June 10, 2025.
Sports betting events like the NBA playoffs contributed to the 20.7% increase in revenue from sports betting in Virginia, as revealed in May 2025. This surge in sports betting revenue, along with the growth in casino revenue for the same period, illustrates the thriving gaming environment in Virginia.
