December 2024 Betting Handle Reaches $734 Million in Virginia

Virginia Lottery has published the sports betting figures for December 2024. The report shows a total handle of nearly $734.4m, marking a 16% increase compared to the same month last year.

Online sports betting led the activity by generating almost $729.5m in wagers during December. In contrast, wagers placed at physical casino locations fell, with a reported handle of $4.9m—a drop of 36.4% compared to the previous year.

Adjusted gross revenue (AGR) for sports betting reached about $43.9m for the month, which is 23.1% lower than the prior year. Operators experienced a decrease in win percentage, dropping from 10% last year to 6% in December 2024. Such changes influenced the AGR and reflect shifts in betting outcomes.

Virginia imposes a 15% tax on sports betting activity based on each operator’s AGR. The tax collection supports two funds; 97.5% goes to the state’s general fund, while the remainder is deposited into the Problem Gambling Treatment and Support Fund. In December 2024, tax revenue from sports betting totaled nearly $6.6m and will be allocated according to these guidelines.

The report provides insight into betting trends in the state. The strong performance of online sports betting contrasts with the decline seen in retail betting at brick-and-mortar casinos. Stakeholders may review these trends as part of their planning for future operations.