Virginia Lottery releases October 2024 sports betting report

(PRESS RELEASE) -- The Virginia Lottery released its report on sports wagering activity submitted by licensed operators for the month of October 2024.

Between 1-31 October 2024, Virginians wagered $696,103,392 (“handle”), 21.8% higher than last October. A complete list of all approved operators can be found here, under the “approvals” tab. For October, thirteen mobile operators and three casinos accepted wagers in Virginia.

Virginia bettors won a total of $641,830,139 for a combined 7.80% operators win percentage (“hold”).

State law places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue (AGR), which is defined as total wagers minus total winnings and other authorized deductions.

Of the state tax on sports betting AGR, the statute specifies 97.5 percent is to be deposited in the state’s General Fund and 2.5 percent is to be deposited into the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services.

Eleven operators reported net positive AGR for October, leading to $7.3 million in tax payments for the month.