Virginia Sportsbooks See Huge September 2022 Revenue, Handle

Written By Giovanni Shorter on November 1, 2022
September 2022 Virginia Revenue

Virginia sports betting revenue saw a massive uptick in activity during the first month of NFL betting. The Virginia Lottery reported $411,273,323 in bets in September 2022. Of this total, $53,822,282 came in gross gaming revenue (GGR) with $48,392,691 in adjusted gaming revenue (AGR) after expenses.

The state saw $7,257,403.31 in tax revenue from the AGR. The Virginia sports betting revenue report shows growth.

Virginia Betting Grows

The report specified that Virginia saw a 40% increase year over year in betting activity. Virginia now has a total of 13 operators active whereas only nine were active in 2021. The total revenue came off of a 13.09% hold rate for the sportsbooks.

This accounts for local players winning a combined $357,451,941 in September. Virginia sportsbooks saw a larger hold rate in September compared to just 12.9% in August. In fact, September showed month-over-month growth in all aspects.

The total handle is up 30.7% compared to August’s $284,671,331 total. AGR is also up 35% month over month compared to the $31,442,959 in August. The increase in activity brought on by the NFL season plays a major role in the overall uptick in handle and revenue.

Virginia Totals Set Records

September marks the fifth highest betting handle month in Virginia since launch. Additionally, this is the highest hold rate in Virginia sports betting history, the highest AGR, and the highest taxes collected by the state. September is the most successful month of sports betting in the Old Dominion State.

Virginia sports betting continues a trend of growth across the nation with sports betting in September. currently, September 2022 is the highest betting revenue month in the US already surpassing $742 million in total revenue reported.

This is the record set since PASPA was repealed and states have been able to regulate their own markets. The total sports betting market has only grown each year as more markets go live. Virginia is only expected to continue this trend of growth in its market.

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Giovanni Shorter

Giovanni Shorter is a sports enthusiast and writer with a passion for the legal and industry side of the sports betting market. Giovanni got his education from Florida State University where he honed his writing style writing narratives and short stories. He has spent his professional career covering sports and entertainment through articles and blogs and continues to look at the industry from multiple angles.

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