Virginia releases May sports betting figures

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

Between May 1 and May 31, 2024, Virginians wagered $505,594,450, 25.2% higher than last May.

Virginia bettors won a total of $445,627,451 for a combined 11.86% operators win percentage.

State law places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue, 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.