Virginia sees major growth in November sports betting activity with over $760 million wagered
Bristol, Virginia – The Virginia Lottery has released its report on sports wagering activity for November 2024, showcasing significant growth in the state’s betting industry. Virginians wagered a total of $760,965,450 during the month, a 19.1% increase compared to November 2023. This marks a robust expansion in the sports betting market, driven by both mobile operators and retail casino activity.
Highlights of November 2024 Sports Betting
A total of thirteen mobile operators and three casinos accepted wagers in Virginia during November. Bettors across the state won $674,614,210, resulting in an operator win percentage, or “hold,” of 11.35%. Gross sports gaming revenue for the month totaled $760,965,450, divided between $756,761,150 from mobile operators and $4,204,300 from casino retail activity.
After subtracting winnings and allowable deductions, operators reported an Adjusted Gross Revenue (AGR) of $80,644,860 for November. This figure includes $79,978,171 from mobile operators and $666,689 from casino activities.
Tax Contributions and Allocation
Virginia imposes a 15% tax on AGR, which amounted to $12.1 million in tax revenue for November. According to state law, 97.5% of the collected tax is allocated to the state’s General Fund, while the remaining 2.5% supports the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services. In November, $11,798,646.71 was directed to the General Fund, and $302,529.40 was allocated to address problem gambling.
Growth and Responsible Gambling Efforts
The report highlights the continued growth of Virginia’s sports wagering industry, driven by increased activity and new operators. The state’s efforts to promote responsible gambling are also evident, with a portion of the tax revenue being allocated to support problem gambling treatment programs.
With the industry expanding and more Virginians engaging in sports wagering, the Virginia Lottery’s detailed reporting underscores its commitment to transparency and responsible gaming practices. For a complete list of all approved operators, visit the Virginia Lottery’s official website under the “approvals” tab.
