Virginia Sports Betting Handle Jumps 8.5% to $689.7M in March 2025
The Virginia Lottery has released its sports betting figures for March 2025, showing a significant increase in activity. The total wagering handle reached \$689.7 million, an 8.5% rise compared to the same period in the previous year. This surge in betting is likely influenced by major sporting events that typically occur in March, such as the March Madness college basketball tournament and the commencement of the Major League Baseball season.
Alongside the increased handle, the Virginia Lottery also reported a rise in adjusted gross revenue (AGR) for sports betting operators. AGR for March 2025 came in just under $45.1 million, marking a 6.2% increase year-over-year. The majority of this revenue was generated by mobile operators, who reported \$44.4 million in AGR. Retail casino sports betting contributed the remaining $692,300 to the total revenue for the month.
Under Virginia state law, a 15% tax is levied on sports betting activity based on each permit holder’s adjusted gross revenue. Of this tax revenue, 97.5% is directed to the state’s General Fund, while the remaining 2.5% is allocated to the Problem Gambling Treatment and Support Fund. For March 2025, the operators’ AGR resulted in a total tax contribution of nearly $6.8 million. This included approximately $6.6 million deposited into the General Fund and an additional $168,900 sent to the Problem Gambling Treatment and Support Fund.
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Furthermore, the Virginia Lottery also released data on the state’s casino revenue for March 2025 from the three properties that report to the organization. This separate report, released on April 15th, indicated a substantial increase in casino revenue, which rose by 30.9% year-over-year to reach nearly $85.2 million. In terms of sports betting pay-outs, Virginia bettors won a reported total of $639 million in wagers during March 2025. This resulted in a hold percentage of 7.35% for all operators licensed to conduct business within the state.
